Suburban Market Office Vacancy Trending Down

A recent article in Crain's Chicago Real Estate Daily highlights suburban Chicago office buildings' vacancy at its lowest level in more than seven years. "Overall vacancy fell to 21.3 percent during the period (first quarter 2015), the lowest since the end of 2007...vacancy was down from 22.6 percent int he previous quarter and 24.4 percent a year earlier," notes the article on April 6, 2015.

Our firm has personally seen this vacancy decreasing in the office market.

Oswego, Illinois slated for Growth

Recently we read two articles discussing two DIFFERENT commercial developments proposed in Oswego. One discussed changes to the riverfront/downtown area, while the other focused on a 534.6 acre MEGA mixed-use/residential development. Read on for more information on both proposed developments.

Electric Vehicle Sales on the Rise; Impact on Commercial Real Estate

Back in June of 2012 our firm posted a blog about Electric Vehicle Charging stations (EVCs).  You can refer to that blog here.  In it we argue that landlords and developers should consider installing EVCs to attract tenants.  We mainly discussed the need for these stations in retail developments, however there is a stronger need for EVCs in office and multi-use facilities lately which is outlined in a new article published by the Business Ledger.

Possible Issues of Mixed Use Developments

A Proposed Mixed Use Development in Naperville, Illinois
As promised, this blog will cover the possible issues of Mixed Use Developments.  To refresh your memory, a Mixed Use Development, in our perspective, is a real estate development that includes two or more sectors of real estate.

The Facts of Mixed Use Developments

First Street, St. Charles

Since the 1920’s, “Mixed Use” developments have been a key to downtown growth.  The thought behind the original idea is that by putting together two or more sectors of real estate (retail, office, and multi-family for example) traffic to this one destination will increase.

How to Find Individual Offices

As a commercial real estate company, we often get calls for 2-3 offices equating to roughly 700-900 square feet. Although this would seem like an easy requirement, it is actually much more difficult than finding a 3,000 square foot office suite. Many times landlords do not build small office suites deliberately as the cost is quite high.

IPO? What’s that and is it for me?

The shared office concept has gained much popularity over the past few years, both by landlords and tenants.  Also called Individual Private Offices, IPO’s, these small suites offer leasing options for tenants seeking 100 to 1,000 square feet with a variety of amenities.

Historic Homes Can Provide Alternative Commercial Real Estate Sites

Many of the suburban towns of Chicago feature quaint downtown, historic districts where century old homes and their unique craftsmanship line cobblestone sidewalks. The attraction to these houses has risen in the commercial market as retailers and office users seek alternative real estate sites.

Out of the Box Real Estate Options

Recently the Daily Herald’s Business Ledger published an pertaining to a hotel in Palatine being transformed into a senior living facility. The plan is to take the current 191 room hotel and renovate it to offer 168 senior resident units. It is this “out of the box” thinking that often transforms into ideal real estate transactions.

5 Reasons to Leave the Home Office

 Impress your clients: A typical office building, whether multi or single story, not only has the space to meet your clients, but also an address that will show them you mean business.  Unlike a home address, or a P.O. Box, an address that includes a suite number or floor, indicates your business is not a “fly by night” organization and that you have been established for years.