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 [...]
1104-1120 E Oak St, DeKalb, IL 60115 – Industrial Portfolio
We are pleased to announce the sale of 3 industrial buildings portfolio totaling 64,400 SF, located at 1104-1120 E. Oak St, DeKalb, IL. Here is what the Seller Mr. Tom Edwards of T & T Properties, LLC has to say about his experience working with us: Asking your firm to represent T & T Properties, [...]
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 [...]
Confidential Listing – Gas Station With Convenience Store
We recently sold a well-established gas station and convenience store in the South-East of Illinois. The sale included both commercial real estate assets and a thriving business with $3 million in gross sales. The firm secured multiple offers from local and out-of-state buyers in just a few weeks of marketing. The seller accepted a full [...]
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 [...]
3100-3104 S Homan Ave, Chicago – Industrial Portfolio
We are pleased to announce the portfolio sale of 2 industrial buildings in the Little Village neighborhood of Chicago: 3100-3104 S Homan Ave, Chicago. The portfolio included a 12,000 SF vacant building and a 7,000 SF building occupied by an MPE-owned manufacturing steel business. The next day after putting the properties on the market, the [...]
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 […]
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