Solutions Newsletter
February 2016
From Bruce Bossow's Desk

Enterprise Zones Approved in McHenry County

Harvard and Woodstock were approved for enterprise zones in January. This is a proactive government effort to financially promote new construction and expansion of commercial and industrial properties. The program offers various tax incentives to stimulate economic activity and create jobs. Tax credits are available toward income tax, sales tax, and real estate taxes. Local governments are also offering to fast track processing of permits and some reductions on fees for permits and tap-in fees.

If you are looking to expand your business, this is an excellent time to build a new facility or purchase a building that needs expansion or improvement. Asking prices for properties and interest rates on financing are both still low. Contact any of my professional agents  for opportunities.
Featured Properties
1309 North Ave., Crystal Lake
Convenience store business, owner's apartment, garage, and 2-flat for additional income. Across from West Beach in Crystal Lake.
4704 Three Oaks Road, Crystal Lake
Just off Rt. 31, 7,590 SF single story building on 3.64 acres. Modern buildout with handicap accessibility.
$899,000 or $12 PSF Gross   click here for more information
8609 Hwy. 12, Richmond
Former Platek's Restaurant with owners' apartment on Rt. 12. Bank owned. Fairly priced.
501 W. Peterson, Libertyville
1,805 SF office condo in private, park-like setting. 3 private offices, conference room. Minutes from downtown Libertyville.
6217 Factory Rd., Crystal Lake
5,000 SF freestanding industrial flex building. 2,870 SF office/showroom, 2,130 SF warehouse. Minutes from the Randall Rd. corridor.
$305,000  ($61 psf)  click here for more information
1500-1540 Carlemont Dr., Crystal Lake
Single-story retail/office condos. 1,200 - 3,717 SF. Sold in cold shell condition with buildout allowance if leased. On Randall Rd. corridor.
$70-90 psf sale, $13 psf NNN with allowances
Recently Sold and Leased
1.8 Acres, 301 N. Randall Rd., Lake in the Hills
Sold for $375,000 by Joe Billitteri and Bruce Kaplan
2300 Esplanade, Building G, Unit 3, Algonquin
2,317 SF office condo.
Sold for $248,000 by Joe Billitteri and Bruce Kaplan.
1925-47 Huntley Rd., West Dundee
6,680 SF leased to Centegra for urgent care facility.
Leased by Joe Billitteri and Heather Schweitzer
820 Terra Cotta Ave., #106, Crystal Lake
1,250 SF office condo.
Sold for $120,000 by Heather Schweitzer
More Gains in Commercial Sector to Come
Daily Real Estate News

All major sectors of commercial real estate will continue to improve, but widely-anticipated increases in short-term interest rates could complicate market growth in the year ahead.

That was the forecast from NAR Chief Economist Lawrence Yun at the commercial real estate outlook session last week at the REALTORS® Conference & Expo in San Diego. He said that vacancy rates in the office, retail, manufacturing, hotel, and multifamily housing sectors are likely to continue their decline in 2016, even as new projects come online to expand capacity.

Q3 2015 Apartment Trends
Victor Calanog, Reis Reports

After holding steady at 4.2 percent for the first two quarters of 2015, the national vacancy rate rose by 10 basis points to 4.3 percent during the third quarter. We have been expecting that vacancies would rise given the amount of new supply coming online. Vacancies have been bouncing around at these levels for the last two years, with a similar 10 basis point increase in the third quarter of 2014 (only to fall once again at the start of 2015). Overall, market fundamentals remain tight.

2015 Best Year for US Office Sales Since 2007
Randyl Drummer, CoStar

U.S. office net absorption topped 100 million square feet for the first time since the Great Recession and the national office vacancy rate declined another half-percentage point in 2015 as broadening demand and constrained levels of construction contributed to tightening space availability in virtually every metro area. 

The U.S. office vacancy rate declined from 11.3% in 2014 to 10.8% at the end of 2015, continuing its downward trend from the 13.2% vacancy rate at the worst of the economic downturn, according to data presented at CoStar's recent State of the U.S. Office Market 2015 Review and Forecast. 

Premier Commercial Realty
 industrial  | retail  | office | land 
business  | investment

 9225 S. IL Rt. 31 | Lake in the Hills, IL 

Bruce Bossow, x 12 847-732-3462
Bruce Kaplan, x 20  847-507-1759
Heather Schweitzer, X 15  815-236-9816
Joe Billitteri, x 21  847-833-5004
Joe Heffernan, x 18  847-302-5550
Kevin Kaplan, x 13  309-261-0920
Tina Kropke, x 14  815-970-0546
Melissa Hubley, x 22  312-320-5987
Mike Williamson, x 25  847-732-0504