Dear Real Estate Enthusiasts, What a year this has been! Hardly any of us have escaped the ravages of the economy. Commercial real estate values have been destroyed and many of us have seen our personal net worth plummet as equity in our properties seemed to vanish before our eyes. We expect the blood-letting to continue into 2011 until the unemployment figures top 200,000 net new jobs per month for a few consecutive months. We've been postulating that if every business just hired ONE new person, we would be out of this quagmire. The Office of Advocacy claims there were 27.5 million businesses in the US in 2009. About 6 million of those had employees. So, if you take only the firms with employees and each firm hired only one more...PRESTO! 6 million new jobs and we are back in business! Now you know how we're getting through this period...a lot of dreaming! All kidding aside, we have sold or leased 75 properties this year in spite of all the obstacles. Not too many local commercial real estate firms can say that. We fought thru reluctant lenders, poorly informed appraisers, vultures, scavengers, opportunists and we got 75 deals DONE. We firmly dedicate ourselves to getting closure for approximately 180 current sellers and landlords who have entrusted us to professionally market their properties in 2011. We are especially thankful for the LOYALTY of those clients who have stuck with us for 2,3 and 4 years. They obviously believe that if Premier can't sell or lease the property, NOBODY CAN! Let me take this opportunity to wish you, your family and your employees a most joyous holiday season.
Sincerely,
Bruce Bossow
Bruce Bossow
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Online Auctions Provide New Age Option For Marketing Commercial Real Estate - by Bruce Kaplan
Public outcry auctions have been around for centuries and some big auction houses have made their name marketing commercial real estate using an auction format. The theory has been that
by using their marketing prowess, the auction firm can identify prospects for your property, entice them to attend an auction, whip them into a frenzy and motivate one of the frenzied mass to outbid everybody else. Getting someone caught up in the excitement and exploiting the notion that you might "lose" the property if you don't keep "upping the bid" can lead to a potential positive outcome for the property seller and a nice brokerage fee for the auctioneer.
Most auctions of this nature allow the seller to put a "reserve" price on the property being auctioned which is a number below which the seller will not entertain. If the highest bidder does not go above the reserve price, the property is "pulled" from the auction. You will occasionally see an "absolute" auction which means the top bidder gets the property no matter how low the top bid is. In this event, there is no "reserve." Continue Reading Article |
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10 Most Influential Online Commercial Real Estate People
We came across an interesting article about one person's opinion of the 10 most influential online commercial real estate people all over the country. We thought you would like to see this. We were disappointed that none of our agents were on it (just kidding!). The social media LinkedIn is getting to be a better and better source of information. Check it out...
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Absolutely Lowest PSF Price!
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30,000 SF freestanding steel industrial building with 1,200 amps, 875 SF re-decorated offices, 15-16' ceilings, 2 docks, 5 DID's. Excellent condition. Priced below every other building on the market. $998,500 ($33.28 psf).
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Sports Bar Buffs!
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McHenry area - Popular sports bar seating 180 including private dining room and separate party room and outdoor seating. Business only for $100,000. Real Estate available for $699,000.
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Christmas Laughs. . .
One of our dear clients sent us the following comics that relate to the season. Hope you enjoy them. Click on photo for more laughs!
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Premier Commercial Realty
9225 S IL Route 31
Lake in the Hills, IL 60156
T: (847) 854-2300
F: (847) 854-2380
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Medical Clinic Steal!
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7404 Hancock
Wonder Lake-
2,150 SF surplus corporate owned former medical clinic with 4 exam rooms, 2 offices, lab, breakroom, clerical area and waiting room. Partial basement. Price slashed to $140,000!
Click to learn more |
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Bank Foreclosure - Price Reduced!
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820 W. Terra cotta, 138-140, Crystal Lake- 1,250 SF single story office condo with 3 private offices and 2 baths. 2 private entrances. Divisible into 2- 625 sf units. Buy both, rent out one. Only $125,000!.
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Deal Of The Month
Sold! Union - 16,800 SF truck terminal on 8 acres. Sold for $725,000. |
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Recruiting Corner
Being a commercial real estate broker is not all "glitter and glamour" these days. Why would anyone want to get into real estate brokerage as a career choice? The answer is simple - FREEDOM. Freedom to run your own business the way you see fit; freedom to spend your time on the activities most important to you, freedom to buy and sell for your own account and the ability to know about deals before they hit the market. Yes, it is a bit slow right now, but that makes it a great time to learn the business. We are actively looking to expand our sales staff. Call Bruce Bossow, Broker-Owner, for an interview. |
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