September 2024 Market Update
In August, the U.S. economy added 142,000 jobs, which was slightly below the expected 161,000 jobs. This suggests a slowdown in the labor market but could also lead to the Federal Reserve lowering interest rates later in the month. The unemployment rate dropped to 4.2% as the labor force expanded by 120,000, maintaining a 62.7% [...]
3001 N York St, Martinsville, IL – Development Land
We are pleased to announce the sale of 7.6 acres of the prime development site, located mid-way between Indianapolis and St Louis on Interstate 70, in the city called Martinsville. After a few months of aggressive marketing campaign, the firm was able to secure above asking offer from a large private multi-state cannabis company with [...]
101 N Washington St, Hanover, IL – Turn-Key Cannabis
We are pleased to announce the sale of 2 adjacent vacant industrial buildings in Hanover, IL totaling 109,380 square feet sitting on approximately 30 acres of land. The property was rebuilt as a turn-key cannabis manufacturing and distribution business. The current owners were growing hemp with anticipation to convert the production into cannabis but failed [...]
October 2023 Market Update
U.S. commercial property prices resumed their decline in Q3 as interest rates once thought to be inconceivable have become the norm, and will likely continue for at least the next 24 months. Retail rent has increased 11% since the end of 2019 and 4% over the past year as retailers enjoy surging sales amid limited [...]
2239 N Rand Rd, Palatine, IL – Development Land
We are pleased to announce the sale of 3.3 acres of land, zoned B-5 and suitable for a variety type of industrial uses like: self-storage, car dealership, car wash, senior housing, restaurant, hotel or retail. 2239 N Rand Rd, Palatine is located in a prime Palatine TIF District along a busy retail corridor. The property [...]
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 [...]
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 [...]
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 [...]
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