 BEYOND BELIEF! Crystal Lake - 11,000 SF 2-level elevator office building with contemporary Frank Lloyd Wright flair. Lots of wood and natural light. Seller giving it away for $800k less than they bought it. $1,099,000.
Call for specs. |
 HOT RETAIL CORRIDORCrystal Lake - 7,500-30,000 SF retail space/building on Rt. 14 just listed. Great exposure. High traffic counts. Superb demographics. Competitive rents at $13-$16 psf gross (lease) or $2,950,000 (sale). Click photo for specs |
 GIVEAWAY RENTS
Spring Grove - 51,000 SF industrial building on 4.66 acres. Plenty of office, 20'+ ceilings in warehouse, 800 amps, 2 docks, 1 DID. Only $1.99 psf net rent (yr. 1). Also for sale at $1,938,000.
Click photo for specs |
 VIDEO GAMING BUSINESSFar N.W. Suburbs - Popular mom & pop business buying and selling new and used video games including hot retro gaming units. Great location. Offers tournaments and parties. $70,000.
Click photo for specs |
 TRANSACTION OF THE MONTH
Hoffman Estates- 1,953 SF retail space in Fountain Crossing on Barrington Rd. leased to Krave Hair Salon. Leased for $13 net. |
|
5 MOST COMMON MISTAKES IN COMMERCIAL LEASING
By Bruce Kaplan
Let's face it. Most of our clients don't seek space to lease all that often. Consummating a lease is unfamiliar territory and the process is fraught with potential pitfalls. Since occupancy expenses are usually the second highest expense next to personnel, this subject is worth some time researching.
Here are 5 mistakes companies often make when leasing space:
1. TIMING THE SEARCH PROPERLY
Some companies plan ahead. Many don't. Waiting too long to start your search can cause you grief. Timelines will differ from business to business but 4-10 months lead time is not an unusual time frame to begin the process. The larger the business, the more advance time you will require. Waiting too long could limit your valid options. This is not like shopping for a loaf of bread! You first have to search out your options. Then you need to negotiate your best deal. The attorneys need time to create a mutually agreeable lease. Frequently time is needed to complete tenant improvements. Not to mention other hurdles. Give yourself adequate lead time so you don't get stuck paying expensive "holdover" rents to your previous landlord. Discuss your planned move with your broker and avoid the anxiety and stress of being in a crunch.
2. MISCALCULATING YOUR SPACE REQUIREMENTS
You move for a reason. Many times that reason is you have too little space. The business is growing and you need more room. The opposite can also be true. Downsizing in the current economy is a common event. Whether you need 1000 or 100,000 square feet, it's a good idea to work with a professional space planner or architect to create a plan of how you will function and where all the employees will sit.
Continue Reading |
| RETAIL VACANCY IMPROVES, BUT IT'S STILL A TOUGH GO
(Crain's) - The local retail leasing market continued to pull out of its slump in the second quarter, but landlords face an uncertain future amid a stalling economy.
The vacancy rate for Chicago-area retail properties fell to 9.7% in the quarter, down from 9.9% in the first quarter and 11.9% a year earlier, according to CB Richard Ellis Inc. It was the fifth straight quarterly decline since the rate peaked at 12.1% in early 2010.
"After so many (retailers) sitting around for two years and thinking about it, you're finally seeing some activity," says Paul Bryant, principal at Mid-American Real Estate Corp., an Oakbrook Terrace-based brokerage.
The most active tenants include value-oriented chains like Five Below, Charming Charlie and Dress for Less, which are expanding rapidly in the Chicago area, taking advantage of rents that remain well below pre-recession levels. The average asking rent at local retail properties was $15.79 a square foot in the second quarter, about a third lower than it was in 2008, according to CB Richard Ellis.
Continue Reading
|
|
TALKING REAL ESTATE FUNDAMENTALS AND FAITH IN THE FUTURE *shared from the Oakstone/LAX Morning Minute July 31, 2011
Long before the mortgage mess and the credit crunch that led us to where we are today, a broker was telling me that office rents didn't come close to justifying the prices being paid for some buildings in Los Angeles. Either the buyers were counting on rents to rise significantly, which he didn't expect to happen, or the buyers were counting on the greater-fool theory of investing. Either way, he had been working the market for 20 years or more and didn't expect rents to zoom to the levels required to support the high prices-and they didn't.
Continue Reading |
COMMERCIAL SALES JUMP LOCALLY IN FIRST HALF
(Crain's) - Local commercial real estate sales soared in the first half of the year, as Chicago was tops among U.S. cities in retail and industrial sales volume while the area's apartment building sales were more than six times higher than the year-ago period.
Overall, Chicago was the third-most active market nationwide, with commercial sales of $3.7 billion, compared with $1.1 billion in the first half of last year, according to data from New York-based research firm Real Capital Analytics Inc. that includes apartments, hotels, industrial, office and retail.
Continue Reading |
|
S&P DOWNGRADE: IMPLICATIONS FOR COMMERCIAL REAL ESTATE
*Shared by Izzy Eichenstein on The Oakstone/LAX Morning Minute
To understand the implications of Standard & Poor's lowering the credit rating of U.S. government debt by one notch to AA+, we first have to understand why U.S. debt was downgraded, and maybe more importantly what was not part of the reason for the downgrade. Let's start with the latter.
The title of the statement on the downgrade is very revealing, especially the word order, "United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden." In reading the S&P statement on the downgrade, the U.S. debt wasn't downgraded because it didn't have the ability to pay its debt obligations today; the U.S. does.
Continue Reading |
|
|
| |
Premier Power Team
9225 S. IL Route 31
Lake in the Hills, IL 60156
847-854-2300 |
A FOOD INGREDIENT THAT CAUSES NERVE DAMAGE
(Beware of MSG)
Following the Second World War food companies discovered monosodium glutamate (MSG), a food ingredient the Japanese had invented in 1908 to enhance food flavors.
Unfortunately, MSG is extremely toxic, especially to your nervous system.
The fast food industry could not exist without MSG and other artificial meat flavors to make their sauces and spice mixes. The sauces in processed foods are basically MSG, water, thickeners and some caramel coloring.
MSG tricks your tongue into thinking that it is getting something nutritious when it is getting nothing at all except some very toxic substances.
Almost all canned soups and stews contain MSG. Salad dressings, Worcestershire sauce, rice mixes, dehydrated soups, all of these as well as anything that has a meat-like taste has MSG in it.
Most processed vegetarian foods contain these flavorings. The list of ingredients in vegetarian hamburgers, hot dogs, bacon, baloney, etc., often includes "hydrolyzed protein" (another name for MSG) and other "natural" flavorings. Almost all soy-based foods contain large amounts of MSG.
Continue Reading |
As the summer winds down and we look forward to a 3-day Labor Day weekend we are happy to have the debt ceiling crisis behind us (for the time being) and hope the volatility is getting shaken out of the stock market.
Kohl's broke ground in Woodstock, one of our favorite retailers.
We are getting more and more requests for help from clients who have bankers breathing down their necks because of vacancies, late payments, loans expiring, etc. With our new associate, Linda Kost, we have been able to assist cients in working out solutions with some of the lenders. If you know someone who needs this type of help, please call us. Learning how to protect your assets from foreclosures is something that only a skilled professional can help you with. Don't wait till it's too late!
|
|
