September 2023 Market Update
The challenges facing the office market are broad, and especially pronounced at high-profile buildings in the largest urban markets. National office vacancy hit a record 13% in Q3 2023. Downtown office attendance is at half of its pre-pandemic level, based on keycard data. On a bright note, suburban office properties showed exceptionally robust net cash [...]
August 2023 Market Update
In the industrial market, net absorption is 30% below pre-pandemic levels. New construction will likely outpace tenant demand for at least another two or three quarters. Industrial rent growth has begun to decelerate from a peak rate of 12% in mid-2022 to 8.5% as of mid-2023. Still, the industrial market remains strong in nearly all [...]
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 [...]
300 Gardner Expy, Quincy, IL – Hotel Redevelopment
We are pleased to announce the sale of originally Ramada Inn and recently Eagle’s Nest Hotel in Quincy, IL. Quincy, known as Illinois’s “Gem City”, is located in west central Illinois on a bluff overlooking the Mississippi River. The hotel was originally built as a 129-room Ramada Inn in 1974 with 51 rooms in the [...]
1000 Essington Rd, Joliet, IL 60435 – Multi-Tenant Office Investment
We are pleased to announce the sale of a 100% occupied, high NOI multi-tenant investment opportunity located in the city of Joliet, Illinois which is 35 miles southwest of Chicago. 1000 Essington Rd is a +/- 15,861 square foot one-story office property with a basement, siting on +/- 1.96 acre of land and constructed in [...]
22900 S Center Rd, Frankfort, IL – Development Land
We are pleased to announce the sale of 68 acres of land, zoned I-1 and suitable for a variety type of industrial uses. The site is located at 22900 S Center Rd, Frankfort, IL, in the Frankfort Industrial Park. It has easy access to I-57 and in the close proximity to downtown Frankfort, IL. The [...]
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 [...]
15330-15350 Cicero Ave, Oak Forest, IL 60452 – Industrial Portfolio
We are pleased to announce the sale of a 2-building industrial portfolio located at 15330-15350 Cicero Ave, Oak Forest, IL. A larger building of 9,000 SF was formerly used as an auto body shop. A smaller building of 2,500 SF was used as a retail auto sales business. The parking yard is 33,000 SF. Besides [...]
3033 Ogden Ave, Lisle, IL – Multi-Tenant Medical Office Investment
We are pleased to announce the sale of Midway Center, LLC. It is an 83.88% occupied, multi-tenant investment opportunity at 9.6% cap rate. This is a +/- 24,000 square foot three-story elevator office building, sitting on +/- 1.15 acres of land and constructed in 1978. The property is occupied by 15 strong and reliable mostly [...]
206, 210-212 E Irving Park Rd, Wood Dale – 4-Building Retail Portfolio
We are pleased to announce the sale of a great value-add investment opportunity: a portfolio of four adjacent retail buildings at 206, 210-212 E Irving Park Rd and adjacent apartment/restaurant building in Wood Dale, IL. The firm represented a seller in this sale-leaseback offering. The portfolio generates a high net operating income from nine apartments, [...]
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