May 2023 Market Update
Rising interest rates, low rent growth, and banking turmoil have dramatically slowed CRE investment volume. Commercial real estate investment decreased by 57% YOY in Q1. As a result, commercial prices have declined by 15% Year-over-Year as of May. Large players with cash on hand, however, have enjoyed the luxury of continuing to invest via all-cash [...]
Guzel Lubinski Recognized as a Top Performing Broker
Guzel Lubinski Recognized as a Top Performing Broker in Crexi’s Annual Platinum Broker Awards LOS ANGELES, CA, March 6, 2023 -- Crexi, the commercial real estate (CRE) industry's fastest-growing marketplace, data, and technology platform, today announced Guzel Lubinski as a winner of its annual Platinum Broker Awards, an awards program recognizing the highest performing [...]
November 2022 Market Update
Warehouse demand is cooling down from red hot to medium hot. Industrial vacancy ticked up in the third quarter from 3% to 3.2%, as developers completed a record 148 million square feet. Warehouse tenants occupied 108 million square feet in the quarter, down 18% from the prior three months, in the first national quarterly decline [...]
May 2022 Market Update
The industrial sector is booming. 40 million SF more space has been leased than vacated over the past year in the Chicago industrial market, nearly double the previous record for absorption. Chicago-area vacancy is just 4.4% overall. From Q1 2020, industrial prices are up 30% and industrial rents are up 20%. Retail monthly leasing activity [...]
March 2022 Market Update
The multifamily market appears poised for another solid year in 2022, although it’s unlikely to match 2021’s exceptional performance. Some $166 billion of multifamily transactions were completed in 2021, up 75% from 2020. After asking rents rose 13.5% nationally in 2021, rent growth will probably be closer to 5% in 2022. With occupancy rates near [...]
October 2021 Market Update
Strong demand for apartments has driven rent back up to pre-pandemic levels in Chicagoland. In the second quarter, tenants rented 10,000 additional units, the most in ten 10 years. The rental activity was concentrated in the suburbs, as households continued to seek larger, lower-cost apartments. The average rent in Chicagoland is $1,550/month, and the average [...]
September 2021 Market Update
There is no end in sight for the post-COVID industrial real estate boom. Chicagoland industrial vacancy fell to 6.2% in Q2, as tenants leased more than 15 million SF - the most ever in a single quarter. Net absorption and new construction have also surpassed all previous market records. Nationally, the average asking price for [...]
August 2021 Market Update
Chicago's industrial market is hot, primarily due to the exponential growth of e-commerce. Over 28 million SF of space has been filled over the past year alone, a historical high. Market rents increased nearly 6% year over year. Average industrial values in Chicago rose to $80/SF, an annual increase of more than 6%. The apartment [...]
July 2021 Market Update
Office leasing is still at 70% of pre-pandemic levels; demand should recover in early 2022. The total number of leases signed is now close to pre-pandemic levels, but fewer tenants are leasing large blocks of space. Chicago saw a reduction in office sublease space in the second quarter. Office investment activity is about half of […]
June 2021 Market Update
Demand for office space in Chicago has increased by 150% since the beginning of the year, but demand is still 20% below its 2018-2019 average. One in four are back to working at the office in Chicagoland; one in three are now working from the office nationally. Office space available for sublease has roughly doubled […]
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