With many retail stores, malls and shopping centers facing changes in consumer buying habits and the convenience of online shopping, many landlords and owners of commercial retail properties are looking at the best use of vacant spaces.
Commercial
The biggest locally owned residential real estate firm in Chicago plans to move this month out of the main office its founding partners opened on Fulton Street more than 16 years ago.
For residential properties, inventory throughout the city is low, with sales and under contract properties on the rise. With all three categories, detached, attached and multi-units seeing a months supply of inventory at about three months, properties are moving off the market quickly as demand in key markets pick up. […]
The Home Builders Association of Greater Chicago (HBAGC) presented “Navigating the New ARO” on May 28th to a packed room at the Dream20 Showroom in the Merchandise Mart. The City of Chicago’s Affordable Requirements Ordinance requires residential developments that receive city financial assistance or involve city-owned land to provide a percentage […]
Wilmette-based real estate firm Terraco has recently purchased the Megamall site on Milwaukee, north of Fullerton. The building which housed an indoor flea market, is going to be razed with potential plans of retail spaces, anchor stores and potential apartments. This is the same site that the city and local […]
The statistics have been updated for the month of August 2014. Sales of businesses with real estate and commercial properties have slowed, along with attached housing as we go into the fall market. Single family properties as well as multi-units are still in demand and prices are surging significantly for […]
The Chicago City Council has passed a controversial ordinance requiring landlords to show how much energy their buildings use. The new law requires the owners of around 3,500 commercial, residential and local government buildings in Chicago to track energy consumption and report the findings to the city, according to a […]
With the economy in recovery, many of the storefronts that went vacant are slowly being filled with new tenants, new businesses and helping spur growth. The average vacancy rate at U.S. retail property in the second quarter fell to its lowest level in more than three years to 10.5%, down […]
With the noticeable changes in the residential market in the past few months many are now looking at the commercial segment for a similar change. Typically, the commercial sector follows the residential trend and the general economy by roughly 18 to 24 months. But the supply and demand, and price […]
The year over year statistics for November has been published. One common trend occurring in several market segments, including all residential and commercial properties are the lowered months supply of inventory, which all seem to be hovering over the four month mark. What the months supply of inventory (MSI) tells […]
The South Side Builder’s Association has scheduled their next meeting this Wed., October 3rd at 11:30a at The Parthenon in the West Loop (314 S Halsted). John Petrovski, currently the Chief Operating Officer of the Commercial Real Estate lending team in the US for BMO Harris Bank and formerly, up […]
(Crain’s) — An Arizona man was sentenced Tuesday to three years in federal prison for his role in defrauding 48 Chicago condominium associations of about $2 million. Jay Strauss, 76, of Scottsdale, Ariz., also was ordered to pay $2 million in restitution, according to a spokesman for the U.S. Attorney […]
As we enter a new year, I am finding myself guiding clients in this market, formulating strategies and guiding expectations. It’s no surprise that the real estate market has been difficult for the past few years and many economists are expecting more of the same for this year. But even […]
Chicago area real estate statistics for residential and commercial properties have been updated for the past twelve months ending in Oct 2011. https://realtyevolved.net/residential-commercial-distressed-chicago-real-estate/ Contracts written is up for both residential and commercial properties. Months supply of inventory is also lower, although for several property types the drop has been […]
Chicago area real estate statistics for residential and commercial properties have been updated for the past twelve months ending in Sept 2011. https://realtyevolved.net/residential-commercial-distressed-chicago-real-estate/ Sherwin L. Sucaldito, REALTOR®, GREEN, ABR, CRPM @properties The Institute of Luxury Home Marketing Green REsource Council, GREEN Accredited Buyer’s Representative , ABR Certified Residential […]
Today marked the end of an era, which for a short time initially was an idealized vision of a vibrant new development which soon came to be controlled by gangs, drugs and violence. The Cabrini-Green Housing Project as of yesterday will be relegated to history one last time. The final […]
Monthly statistics through February have been posted! Supply seems to be lessening for residential. Lots of activity for commercial and industrial properties as contracts written and sales are up. Activity in vacant lots is heating up earlier as well than last year. View the residential real estate market dynamics analysis […]
Monthly statistics for Chicago area residential and commercial sales.
Commercial property developers took advantage of soaring property values at the market’s peak, using cash-out loans to pocket millions of dollars. Now lenders are left holding the bag.
Many investors have started considering commercial properties as a way to diversify their portfolio. Originally published at https://realtyevolved.net by Sherwin Sucaldito