eXp Commercial | Chicago Multifamily Brokerage: 2024

Friday, October 4, 2024

Price Reduction – 1270 McConnell Rd, Woodstock, IL
Now $1,150,000 (Reduced from $1,200,000)

This fully occupied 16,000 SF industrial property in Woodstock, IL is a great investment opportunity with stable tenants and excellent flexibility for future use.

Property Details:
📐 16,000 SF industrial building
📏 Lot size: 1 acre
🏢 Zoning: M1
💰 NOI: $86,552
📊 Cap Rate: 7.53%
✅ Fully occupied with established tenants

Key Features:
🏗️ Steel construction / steel roof
⬆️ 14′ clear heights
🚪 2 dock-high doors
🚪 1 grade-level door
🔥 Fully sprinklered and monitored

Located 50 miles from downtown Chicago with easy access via US-14 and Route 47.

View Full Listing https://www.creconsult.net/occupied-industrial-property-woodstock-sale/

#PriceReduction #IndustrialProperty #WoodstockIL #CRE #eXpCommercial #InvestmentProperty

Thursday, October 3, 2024

🚨 Price Reduction! 🚨

For Sale: Industrial Property | 1150 McConnell Rd, Woodstock, IL 60098
💰New Price: $4,450,000 (was $4,750,000)

📏 Building Size: 73,245 SF
🏞 Lot Size: 5.2 Acres
⚡️ Zoning: M1
🔌 Heavy Power: 2400Amp/480V/3-Phase

eXp Commercial is excited to present this versatile industrial manufacturing and distribution facility. This property offers rail access, newly renovated offices, and exceptional power capabilities for high-demand industries. Whether you need space for manufacturing, storage, or repair, this property has it all.

Located just 50 miles from downtown Chicago with easy access via US-14 & Route 47, this is a prime opportunity for owner-users or investors.

✨ Features include:
* 5 Dock-High Doors
* 1 Grade-Level Door
* 14-foot Clear Heights
* Fully Renovated Offices (10,000 SF)
* Heavy Floor Load (9” Concrete)
* Rail Spur Access

Don't miss out on this incredible deal! Contact us for more details or visit the link below:
🔗 https://www.creconsult.net/industrial-property-for-sale-73245-sf-in-woodstock-il/

#IndustrialRealEstate #ForSale #PriceReduction #eXpCommercial #WoodstockIL #InvestmentOpportunity #ManufacturingFacility #RailAccess #CRE

Wednesday, September 25, 2024

Hobard Auction

🚨 Auction Alert 🚨
** Bidding Closes TODAY 12:20 PM CST**

I’m excited to announce that a prime 17.25-acre residential development property at 150 Harbor Club Dr, Hobart, IN, is going to auction! 🏘️ This is a rare opportunity to acquire land within The Brickyard of Hidden Lake Subdivision, featuring 48 platted lots, including coveted lakefront property. 🌊

Key Highlights:
* Mixed Neighborhood Residential Zoning: Perfect for low- to medium-density housing.
* Prime Location: Just 39 miles southeast of Chicago.
* Thriving Market: Hobart is experiencing strong demand and growth, with a median home price of $237,300.

📅 Auction Bidding Starts: September 23 at 11:00 AM.

Don’t miss out on this incredible development opportunity! Click the link to learn more and register to bid.
https://www.crexi.com/properties/1646245/indiana-the-brickyard-of-hidden-lake

Contact Information:
Randolph Taylor, CCIM
Commercial Real Estate Broker
eXp Commercial-Chicago
📞 630-474-6441
📧 rtaylor@creconsult.net

#realestate #auction #developmentopportunity #HobartIN #investment #commercialrealestate #eXpCommercial

Hobard Auction

Friday, September 20, 2024

Hobard Auction

🚨 Auction Alert 🚨

I’m excited to announce that a prime 17.25-acre residential development property at 150 Harbor Club Dr, Hobart, IN, is going to auction! 🏘️ This is a rare opportunity to acquire land within The Brickyard of Hidden Lake Subdivision, featuring 48 platted lots, including coveted lakefront property. 🌊

Key Highlights:
* Mixed Neighborhood Residential Zoning: Perfect for low- to medium-density housing.
* Prime Location: Just 39 miles southeast of Chicago.
* Thriving Market: Hobart is experiencing strong demand and growth, with a median home price of $237,300.

📅 Auction Bidding Starts: September 23 at 11:00 AM.

Don’t miss out on this incredible development opportunity! Click the link to learn more and register to bid.
https://www.crexi.com/properties/1646245/indiana-the-brickyard-of-hidden-lake

Contact Information:
Randolph Taylor, CCIM
Commercial Real Estate Broker
eXp Commercial-Chicago
📞 630-474-6441
📧 rtaylor@creconsult.net

#realestate #auction #developmentopportunity #HobartIN #investment #commercialrealestate #eXpCommercial

Friday, September 13, 2024

Hobard Auction

Monday, September 9, 2024

Multifamily Mortgage Rates – September 2024 Update

Staying on top of multifamily mortgage rates is critical for real estate investors seeking to optimize their investments. As of September 2024, notable adjustments in rates present both challenges and opportunities in the multifamily market. Understanding these changes can help property owners make informed decisions, whether they are looking to refinance, acquire new properties, or reassess their current financial strategies.

Key Rate Changes for September 2024

Bank Rates for 5-year terms have decreased by 12 basis points, now at 6.80%. This presents an opportunity for investors to secure favorable terms for refinancing or new acquisitions.
Agency Rates have fallen by 7 basis points, now at 5.12%. These rates are typically advantageous for larger properties, providing stability and competitive terms for long-term investments.
Agency SBL Rates (Small Balance Loans) have increased by 20 basis points, now at 5.89%. These loans target smaller properties and offer an efficient solution for investors dealing with properties under specific loan amounts.
CMBS Rates dropped by 40 basis points, now at 6.62%. This decrease makes CMBS loans attractive for larger, more complex multifamily deals that require flexible repayment structures.

These shifts in multifamily mortgage rates are important to monitor, as they influence the cost of borrowing and ultimately the profitability of real estate investments.

Understanding Your Loan Options

Agency loans offer stability with long-term, fixed rates. These are ideal for institutional investors or those looking to hold onto larger properties for extended periods.
Agency SBL loans target smaller multifamily properties, typically offering competitive rates for properties under certain loan balances. They are designed for more modest-sized assets, but with the same benefits of Agency loans.
CMBS loans (Commercial Mortgage-Backed Securities) are an excellent choice for investors looking for more flexibility in repayment terms, especially when dealing with larger, more complex deals. These loans are structured through securities and can offer unique advantages for certain financial strategies.

How This Affects Investors

The current changes in multifamily mortgage rates provide an excellent opportunity for investors to review their financing strategies. Whether you’re considering refinancing an existing loan or purchasing a new multifamily property, now might be the time to lock in favorable terms. Given the recent adjustments, working with a knowledgeable capital partner can ensure you make the most of these market conditions.

Next Steps: Schedule a Call

At eXp Commercial, we are committed to helping our clients navigate these market shifts with expert advice and tailored solutions. In partnership with CommLoan, we provide a wide range of financing options suited for multifamily investments. Whether you’re looking to refinance, expand your portfolio, or simply assess your options, we’re here to assist you every step of the way.

Contact us today or schedule a call to discuss your financing needs. Let us help you secure the best terms and maximize the profitability of your multifamily investments.

https://www.creconsult.net/market-trends/multifamily-mortgage-rates-september-2024/

Friday, September 6, 2024

Hobard Auction

Thursday, September 5, 2024

Chicago Multifamily Market Q2 2024: Key Insights for Property Owners

The Chicago multifamily market in Q2 2024 remains stable, offering property owners opportunities for strong rental performance, low vacancy rates, and sustained investor demand. Whether you’re considering refinancing, holding your property, or exploring a potential sale, these insights will help you understand the current market conditions.

Key Metrics for Chicago Multifamily Properties

1. Consistent Rent Growth

Rents in the Chicago metro market have continued to grow steadily. In Q2 2024, average asking rents rose to $1,780 per unit, marking a 3.6% increase year-over-year. This sustained growth reflects strong tenant demand across the metro area. Projections suggest rents will continue to rise, reaching $1,796 per unit by the end of 2024, offering further potential for income optimization.

2. Low Vacancy Rates Support Cash Flow Stability

Vacancy rates across the Chicago metro market have improved to 4.7%, ensuring steady occupancy and cash flow for property owners. The lower vacancy rate in Class B/C properties (at 2.9%) indicates particularly high demand for mid-tier assets, while Class A properties experience slightly higher vacancies at 8.6%. This difference highlights opportunities to maximize returns in properties catering to the broader rental market.

3. Investment Activity and Sales Trends

The Chicago multifamily market continues to attract significant investor interest. In Q2 2024, total transaction volume reached $442.79 million, with notable deals in key metro locations. The average cap rate for multifamily properties is 5.9%, indicating competitive bidding for quality assets. Major transactions include 1326 S Michigan Ave ($144 million) and 850 N Lake Shore Dr ($79.75 million), reflecting strong market confidence.

4. Limited New Construction Prevents Oversupply

New construction in the Chicago multifamily market remains restrained, with only 0.3% annual inventory growth. This minimal growth helps maintain a healthy balance between supply and demand, ensuring that existing properties face less competition from new developments. This trend supports rent increases and maintains occupancy stability, providing property owners with a favorable market environment.

Market Outlook for the Rest of 2024

Looking ahead, rental demand in the Chicago metro market is expected to remain strong, with projected rent growth pushing average asking rents to $1,796 by year-end. Vacancy rates are likely to stay stable at around 5%, creating a favorable outlook for property owners. Investors remain active, providing opportunities to assess your asset's value for refinancing or potential sale.

For more in-depth insights, download Moody’s CRE report here. A partner of eXp Commercial, Moody's CRE, has provided this report.

How We Can Help

At eXp Commercial, we provide tailored guidance to multifamily property owners in the Chicago metro area. Whether you’re considering buying, holding, refinancing, or selling, we offer the insights you need to make the most of your property. Schedule a discovery call or contact us to discuss your property’s next steps.

https://www.creconsult.net/market-trends/chicago-multifamily-market-q2-2024/

Tuesday, September 3, 2024

Sequence 8

MARKET UPDATES
View our Blog To Keep Up To Date On
The Multifamily Market
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/blog/

Friday, August 30, 2024

Hobard Auction

Wednesday, August 28, 2024

Essential Insights for Chicago Multifamily Investors: Q2 2024 CRE Webinar

The Q2 2024 CRE webinar hosted by Moody’s and eXp Commercial is a key event for Chicago multifamily property owners. This webinar will dive into crucial insights about the current commercial real estate landscape, emphasizing how economic shifts impact the multifamily sector. Attending this event will equip you with the knowledge needed to navigate these changes effectively.

Why Attend the Q2 2024 CRE Webinar

This CRE webinar will feature industry experts from Moody’s and eXp Commercial, discussing the latest trends affecting the real estate market. Whether you're dealing with shifting vacancy rates, assessing rent growth opportunities, or understanding broader economic impacts, this session provides the essential information you need to make informed decisions about your investments.

Key Takeaways from the Webinar

Vacancy Rates and Rent Trends: Learn how current market shifts affect your Chicago multifamily investments.
Economic Impacts: Understand how changes in interest rates and other economic factors influence your properties.
Strategic Opportunities: Discover opportunities for acquisition, disposition, or refinancing to optimize your portfolio.

This session isn’t just about data; it’s about delivering insights that can directly impact your investment strategy.

Align Your Strategy with Market Trends

Moody’s, a trusted research provider, and eXp Commercial bring their expertise to this CRE webinar. The information shared will be vital for aligning your investment strategy with the latest market intelligence. You’ll gain actionable insights to better manage your multifamily investments in Chicago.

Curious about how these insights apply to your properties? After the webinar, schedule a call with us to discuss your investment goals and how we can assist with your acquisition, disposition, and financing strategies.

Reserve Your Spot Today

Don’t miss this opportunity to gain insights that can influence your investment strategy. Register now to secure your spot in the Q2 2024 CRE webinar and stay ahead in the competitive Chicago market.

https://www.creconsult.net/events/q2-2024-cre-webinar-chicago-multifamily/

Sequence 7

CHICAGO MULTIFAMILY BROKERAGE
No Matter Where You Are In The Investment Cycle
with Your Multifamily Property
We Can Help You!
Buy | Sell | Hold | Finance
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/

Tuesday, August 27, 2024

Sequence 6

PROPERTY TAX EVALUATION
Expert Property Tax Evaluation to Estimate The
Potential to Appeal Your Property Taxes
REQUEST: https://www.creconsult.net/resources/
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net

Friday, August 23, 2024

Hobard Auction

Wednesday, August 21, 2024

Sequence 5

RENT ANALYSIS
Current Market Rents For Your Multifamily Property
Estimate Potential Rental Income
REQUEST: https://www.creconsult.net/resources/
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net

Tuesday, August 20, 2024

Sequence 4

MARKET REPORT
Metro Chicago Multifamily Market Report
Providing Key Investment Metrics
REQUEST: https://www.creconsult.net/resources/
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net

Monday, August 19, 2024

Optimize Multifamily Property Value for Top Market Price

Introduction:
In multifamily real estate, Multifamily Property Value Optimization is essential to securing a top market price. By optimizing your property’s value, you can maximize your return on investment and attract premium offers.

How to Optimize Your Multifamily Property Value

Why Optimize Your Multifamily Property Value?

There are numerous reasons why property owners decide to sell their multifamily assets. These reasons generally fall into three categories: problems, opportunities, and changes. However, no matter the reason for selling, ensuring your property is operating at its optimum level will maximize your return on investment.

Common Reasons for Selling:

Problems:
- Management Challenges: Difficulty in managing the property or dealing with problematic tenants can lead to burnout.
- Vacancy Issues: Persistent vacancies can drain resources and reduce income.
- Maintenance Costs: Aging properties often require expensive repairs, impacting profitability.
- Neighborhood Decline: Changes in the surrounding area can decrease property value.
- Interest Rate Increases: Rising interest rates can impact your mortgage payments, squeezing your cash flow.
Opportunities:
- Strong Market Values: A booming market might present an ideal time to sell.
- Alternate Investments: You may want to diversify your portfolio or move into other investment types.
- Tax Savings: Taking advantage of tax incentives or 1031 exchange opportunities can make selling advantageous.
- End of Hold Period: If you’ve reached the end of your intended hold period, it may be time to realize your gains.
Changes:
- Life Events: Divorce, retirement, or the passing of a partner can necessitate a sale.
- Relocation: Moving to a different area might prompt you to sell your property.
- Partnership Splits: Disagreements or changes in partnerships often lead to property sales.

Key Strategies for Multifamily Property Value Optimization

Enhance Curb Appeal: First impressions matter. Invest in landscaping, exterior paint, and lighting to make your property more attractive to potential buyers.
Increase Operational Efficiency: Implement energy-efficient systems, reduce utility costs, and streamline management processes. A well-run property is more appealing to investors.
Update Units: Renovate kitchens, bathrooms, and common areas. Modern, updated units can command higher rents and attract more tenants, boosting your NOI (Net Operating Income).
Optimize Rent Levels: Conduct a rent analysis to ensure you’re charging market rates. Gradually increasing rents over time can significantly boost your property’s value.
Reduce Vacancy Rates: Keep your occupancy high by ensuring your units are desirable and well-maintained. Address tenant concerns promptly to maintain a positive relationship.
Implement Professional Management: A professional property management team can increase efficiency, reduce vacancies, and ensure your property is well-maintained, all of which increase value.

How to Minimize Capital Gains Tax When Selling

When selling a multifamily property, capital gains tax can significantly impact your profits. However, there are strategies available to defer or minimize this tax:

1031 Exchange: Defer capital gains by reinvesting proceeds into another like-kind property.
Delaware Statutory Trust (DST): A DST allows you to invest in fractional ownership of larger properties while deferring capital gains tax.
Tenancy in Common (TIC): This structure allows multiple investors to pool resources and invest in larger properties, deferring taxes in the process.
Installment Sale: Spread out the receipt of sale proceeds over time to manage tax liability.

Get the Most for Your Multifamily Property

We don’t just list properties for sale; we create a competitive market for them. Our approach includes:

Thorough Underwriting: We carefully analyze each property to ensure it’s aggressively priced to attract offers quickly.
National Marketing Platform: We syndicate your property across the top commercial real estate listing sites, ensuring maximum exposure.
Competitive Bidding: Our orchestrated bidding process is designed to drive up the final sale price, ensuring you get the most for your property.

Contact Us for a Complimentary Broker Opinion of Value (BOV)

Curious about your property’s worth? We offer a complimentary Broker Opinion of Value to help you understand its current market value and potential.

Not Ready to Sell?

That’s okay! Only about 5% of the market trades in any given year. We’re here to help with any purchase or refinance needs and can recommend operational improvements to enhance your property’s value for when you’re ready to sell.

Have you thought about selling your multifamily property? Contact us today to request a valuation and discover how we can help you with multifamily property value optimization.

eXp Commercial Chicago Multifamily Brokerage is your partner in listing and selling multifamily properties throughout the Chicago Area and Suburbs. We create markets for each property we represent, leveraging our national platform to deliver higher sales prices.

https://www.creconsult.net/market-trends/optimize-multifamily-property-value/

Friday, August 16, 2024

Hobard Auction

Thursday, August 15, 2024

1150 McConnell

For Sale Industrial Property
📍 1150 McConnell Rd | Woodstock, IL 60098
💰 $4,750,000

Property Details:
Building Size: 73,245 SF
Lot Size: 5.2 Acres
Zoning: M1

Property Description:
eXp Commercial is pleased to present 1150 McConnell Rd. to the market, a sprawling 73,245-square-foot industrial manufacturing and distribution facility. This strategically located property boasts rail access and recently renovated office spaces, making it ideal for a variety of industrial uses. The property’s heavy-duty construction and robust power capabilities make it perfect for industries such as rail car repair, semiconductor production, electric car repair, and more.

Highlights:
5 Dock High Doors / 1 Grade Level
Dedicated Active Rail Spur / Dock
Recently Renovated Well-Finished Offices
Heavy Floor Load 9″ Concrete
Heavy Power: 2400Amp/480V/3-Phase

Contact Information:
Randolph Taylor, CCIM
Commercial Real Estate Broker
eXp Commercial-Chicago
📞 630-474-6441
📧 rtaylor@creconsult.net
https://www.creconsult.net/industrial-property-for-sale-73245-sf-in-woodstock-il/

Wednesday, August 14, 2024

Sequence 3

WHAT IS MY PROPERTY WORTH?
Be informed about the value of your property before you make a major decision!
Contact us to discuss:
Broker: Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/home-chicago-multifamily-brokerage/request-valuation/

Tuesday, August 13, 2024

Sequence 2

WHY SHOULD I SELL MY MULTIFAMILY PROPERTY?
There are Several Reasons Why People Do Sell:
Problems | Opportunities | Changes
I Don't Want to pay Capital Gains Tax!
There are a Number of Ways to Defer or Minimize
Contact us to discuss:
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/

Wednesday, August 7, 2024

Sequence 1

CHICAGO MULTIFAMILY BROKERAGE
No Matter Where You Are In The Investment Cycle
We Can Help You!
A Commercial Real Estate Brokerage firm specializing in listing and selling
multifamily properties in the Chicago metropolitan area.
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/

Tuesday, August 6, 2024

The multifamily real estate market sees increased Engagement

Buyer engagement in the multifamily real estate market was already on the upswing due to several factors.

Market Overview

The multifamily real estate market is showing signs of renewed vigor. Transaction volumes are increasing after a period of slowdown. Most notably, the 50 basis point decrease in the ten-year Treasury in the last week has opened up new financing opportunities for multifamily deals. This change is expected to catalyze even more transactions in the coming months. Matt Mitchell, senior managing director of Berkadia, highlights the immediate impact of this change. On an $80 million loan, their mortgage bankers secured an additional $10 million in loan proceeds within the last month. This increased the loan-to-value ratio from 55% to 65%.

Rising Buyer Engagement

Even before this significant drop in Treasury yields, buyer engagement in the multifamily real estate market had been on the rise. Mitchell recalls a recent multifamily deal in Tampa that received 39 offers. Several well-known institutional investors were among the bidders. "This level of interest would have been unheard of just six months ago," he says. He believes it signals a marked shift in market sentiment.

Contributing Factors

Several factors have contributed to this increased buyer engagement. Earlier in the year, major institutional players like Blackstone, Brookfield, and KKR made substantial investments in the multifamily real estate market. This served as a signal for other institutional groups to re-enter the market. Additionally, there's a growing anticipation of declining interest rates, further fueling investor interest.

Impact of Insurance Rates

Improved insurance rates are also playing a role, particularly in Florida, where Mitchell is located. Recent renewals have seen a 25% drop in premiums. While not returning rates to pre-spike levels, this represents a significant boost to net operating income (NOI) for property owners.

Future Market Predictions

Looking ahead, the multifamily real estate market is anticipating meaningful rent growth. As supply bottlenecks ease and new inventory remains low, occupancy rates are expected to increase. This paves the way for rent growth to regain momentum. Some clients are already reporting limited but positive rent growth. This can have a substantial impact on deal underwriting.

Seller Activity

These factors, combined, have led to a narrowing of the bid-ask spread. More sellers are willing to enter the multifamily real estate market as pricing improves. Some property owners are also facing decisions regarding financing, such as extending construction loans or purchasing new rate caps. This may motivate them to sell.

Increase in Deal Activity

The increase in deal activity is evident in the numbers. In the Tampa market, for instance, multifamily transaction volume jumped from just $50 million in the first quarter to nearly $1 billion by the end of the first half of the year. While still below the market's typical $4 billion annual pace, this represents a significant uptick in activity.

Return of Institutional Capital

Institutional capital is also returning to the market. This is another factor contributing to a more robust transaction market, says Scott Wadler, managing director at Berkadia. Investors are optimistic about stabilizing cash flows and improving rents. "Some buyers are even pursuing deals at neutral or negative leverage, planning to stabilize assets and refinance in 12–18 months when rates are expected to be lower," he says.

Market Outlook

With substantial liquidity on the sidelines and investors seeking higher returns than those offered by Treasury securities, the multifamily real estate market appears poised for increased transaction activity in the coming months.

Source: https://www.globest.com/2024/08/05/treasury-decline-unlocks-new-multifamily-opportunities/

https://www.creconsult.net/market-trends/multifamily-real-estate-market-increased-buyer-engagement/

Monday, August 5, 2024

1270 MCConnell Rd

Call For Offers: Friday Aug 9th
16K SF Industrial Property 7.2% Cap Rate
PRICE: $1,200,000
HIGHLIGHTS:
16,000 SF, 1 Acre, M1 Zoning
Fully Occupied, 2 Stable Tenants
Steel Construction/Steel Roof
16' Ceiling Heights
2-Dock High Doors
1 Grade Level Door
Fully Sprinklered/Monitored
1150 McConnell, 73K SF Also For Sale
LISTING BROKER: Randolph Taylor, CCIM
rtaylor@creconsult.net, 630.474.6441
PROPERTY WEBSITE/OM:
https://www.creconsult.net/occupied-industrial-property-woodstock-sale/

Chicago's Booming Multifamily Market Drives Up Rents

Chicago's booming multifamily market is fueling a rapid increase in rental prices. This surge has created a housing crisis for many residents. Rents have climbed 11% compared to last year, with no signs of slowing down, especially as the school year approaches.

From March to June, median rents jumped by over $120, a staggering 7.1% increase fueled by low vacancy rates and high demand, particularly among students. For instance, a unit renting for $1,000 in March climbed to $1,120 just three months later.

Affordability is a pressing issue. By June, the average rent reached $2,200, requiring an annual income of $88,000 to be considered affordable. This rapid increase in rental costs far outpaces wage growth, which stands at 4.3%.

Quote: "Rents are largely unaffordable to the median earner in Chicago," says Daryl Fairweather, chief economist at Redfin.

Nearly half of Chicago households are now considered rent-burdened, spending over 30% of their income on housing. This alarming trend highlights the need for affordable housing solutions.

Landlords Benefit from Strong Market

While renters face challenges, landlords are capitalizing on the booming multifamily market. Low vacancy rates and increasing rents have created a profitable environment. Chicago has consistently been a top-performing rental market nationwide.

The robust multifamily market has attracted significant investment. Recent deals include:

FPA Multifamily's $60 million purchase of a 270-unit complex in Oak Park.
MZ Capital's acquisition of a 166-unit complex in the West Loop.

Conclusion:

Chicago's multifamily market is experiencing unprecedented growth, presenting both challenges and opportunities. As rental prices continue to rise, the need for affordable housing solutions becomes increasingly urgent.

Source: Summer Demand, Low Vacancy Driving up Rent Prices in Chicago

https://www.creconsult.net/market-trends/chicago-renters-housing-crisis-multifamily-market-soars/

Friday, August 2, 2024

Selling Multifamily Property: Guide with eXp Commercial

Selling a multifamily property can be a complex endeavor that requires a strategic approach to maximize value and ensure a smooth transaction. At eXp Commercial, we follow a proven process designed to create a competitive bidding environment and achieve the best possible outcome for our clients. Here’s an overview of our comprehensive listing and selling process.

1. Establishing a Long-Term Relationship

The foundation of a successful transaction is a strong, long-term relationship based on trust and respect. At eXp Commercial, we prioritize building rapport and credibility with our clients. This relationship is essential for understanding your specific needs and objectives and for ensuring that our strategies are aligned with your goals.

2. Information Exchange

A successful sale begins with a thorough exchange of information. We gather detailed insights into your property, including financial performance, market positioning, and potential opportunities. This information is critical for crafting a tailored strategy that highlights your property’s strengths and addresses any concerns.

3. Determining the Value-Added Strategy

After understanding your needs, we develop a strategy to best utilize our resources to meet your objectives. This involves analyzing market data, comparable sales, and rent comps to position your property competitively. We focus on creating a compelling narrative that showcases the investment potential to prospective buyers.

4. Presentation of the Recommended Strategy

Our team presents the recommended strategy in an organized, credible, and persuasive manner. This presentation includes not just the valuation but also how our approach will achieve your broader goals. We ensure that the proposed price and marketing process align with your objectives and set realistic expectations.

5. Addressing Concerns and Objections

We proactively identify and address any concerns or objections you may have. By fostering an open dialogue, we can adjust our strategy to best suit your needs and ensure you feel confident moving forward. This step is crucial for building trust and ensuring that all parties are on the same page.

6. Creating a Competitive Bidding Environment

Our marketing efforts aim to generate multiple offers, thereby creating a competitive bidding environment. We utilize eXp Commercial’s extensive network and marketing platforms to reach a wide range of qualified buyers. This exposure helps to drive up the price and maximize your net proceeds.

7. Closing the Deal

The closing process involves finalizing all transaction details and overcoming any last-minute objections. We guide you through this stage, ensuring that all paperwork is in order and that the transaction proceeds smoothly. Our goal is to close the deal efficiently while achieving the best possible terms for you.

Detailed Steps in the Listing and Selling Process

Initial Consultation and Market Analysis

The journey begins with an in-depth consultation where we discuss your property and your goals. Our team at eXp Commercial will then conduct a thorough market analysis. This involves studying current market conditions, recent sales of comparable properties, and future market trends. We leverage the extensive market research capabilities to provide a detailed and accurate valuation of your property.

Marketing Plan Development

Once we have a clear understanding of your property’s value and market position, we develop a comprehensive marketing plan. This includes:

Professional Photography and Videography: High-quality visuals to showcase the property.
Online Listings: Featuring your property on major real estate platforms and our proprietary database.
Email Campaigns: Targeted emails to potential buyers and investors.
Print Media: Brochures, flyers, and advertisements in relevant publications.
Social Media: Leveraging platforms like LinkedIn, Facebook, and Instagram to reach a broader audience.

Strategic Property Showings

We coordinate and conduct property showings and open houses. Our goal is to present your property to as many qualified buyers as possible. We handle all aspects of the showings, ensuring that your property is always presented in the best light.

Buyer Qualification and Negotiation

As offers come in, we thoroughly vet potential buyers to ensure they are qualified and capable of completing the purchase. We then negotiate on your behalf to secure the best possible terms. Our aim is to create a competitive bidding environment that maximizes your sale price.

Transaction Management

Once an offer is accepted, our team manages the entire transaction process. We coordinate with all parties involved, handle paperwork, and ensure that all deadlines are met. Our goal is to ensure a smooth and efficient closing process, addressing any issues that arise promptly.

Why Partner with Randolph Taylor at eXp Commercial?

Partnering with Randolph Taylor at eXp Commercial means leveraging a proven process that has been refined through years of experience in the industry. Our approach is designed to:

Maximize Property Value: By creating a competitive bidding environment, we ensure that you receive the highest possible price for your property.
Streamline the Transaction: Our detailed process minimizes delays and complications, leading to a smoother transaction.
Provide Expert Guidance: With deep market knowledge and expertise in multifamily investments, we provide valuable insights and strategic advice.

About Randolph Taylor

Randolph Taylor, MBA, CCIM, is a Senior Associate and Multifamily Investment Sales Broker in the National Multifamily Division with eXp Commercial. Randolph focuses on the listing and sale of multifamily properties in the Greater Chicago area and suburbs. With over 25 years of commercial real estate investment sales experience, including corporate real estate, asset management, and commercial real estate brokerage, Randolph is uniquely positioned to provide superior service to his clients. His broad knowledge of the commercial real estate industry, financial analysis, marketing, and negotiating skills ensures the highest standards of service and results for his clients.

Contact Information:

Phone: 630-474-6441
Email: rtaylor@creconsult.net
Schedule Call

If you’re considering selling your multifamily property, contact Randolph Taylor at eXp Commercial. Let us evaluate your property and demonstrate how our proven process can work for you. Achieve your real estate goals with a trusted partner by your side.y property, contact Randolph Taylor at eXp Commercial. Let us evaluate your property and demonstrate how our proven process can work for you. Achieve your real estate goals with a trusted partner by your side.

https://www.creconsult.net/market-trends/selling-multifamily-property-guide-with-exp-commercial/

Thursday, August 1, 2024

Midwest Multifamily Market Booming: Is Now the Right Time to Sell?

At the halfway point of the year, Cleveland, Cincinnati, Columbus, and Chicago have all seen rent growth well ahead of the national average.

RealPage economists have picked several apartment markets that they expected would perform well in 2024 earlier this year. Those markets included Boston, Chicago, Cincinnati, Cleveland, Columbus, and New York. At the halfway point of the year, the firm took a look at its picks to see how they were doing.

RealPage's picks shared a common theme: limited supply pipelines. That kept many of its top markets ahead of the pack six months into the year. Strong demand is also bolstering Cleveland, Cincinnati, Columbus, and Chicago, all of which have seen rent growth well ahead of the national average.

San Jose and Washington, D.C., which RealPage predicted would show surprising upside at the start of the year, also have experienced rent growth outpacing national norms. San Jose may be on the cusp of re-securing some job growth due to AI-driven tech improvement, and migration flowing back into the nation's capital has helped support revenue growth, said RealPage.

The firm picked Las Vegas, Los Angeles, Portland, and San Francisco as markets that would face some potential demand challenges. As of mid-year, its predictions have experienced mixed results. Los Angeles and Portland both have struggled to maintain any traction in 2024 as locally sluggish economic growth appears to be holding the markets back, and Portland's annual job loss ranks second-worst among the nation's 50 most populous metro areas. However, Los Angeles has seen modest 0.6% growth despite extremely elevated turnover in Downtown LA and Mid-Wilshire. Los Angeles saw 52% turnover among leases expiring in June 2024, the fourth highest in the country.

The Austin and Dallas-Fort Worth markets both ranked within the nation's top 3 markets for absorption to start the year, pointing to strong demand in those markets. However, at mid-year, rent growth has not materialized in the Texas markets due to large supply volumes. Phoenix also ranks in the top 5 for absorption, yet it has seen persistent rent cuts. Nashville has outperformed to some degree considering the massive local supply figures, said RealPage.

Among its original picks for wild card markets, Atlanta and Tampa have seen performance significantly trail the national average. Atlanta's performance has been impacted by weak rent collections and oversupply, as well as softness in local lease-up properties, with more than a 50% drop in per-property per-month absorption in the first six months of 2024. Newark/Jersey City continues to impress as it appears new supply delivering along the waterfront is attracting some renters who work in Manhattan but are pulled in by the lower rents of Jersey City, according to RealPage.

Is Now the Time to Sell Your Multifamily Asset?

This positive outlook suggests that now might be an opportune moment to consider listing and selling your multifamily asset. By capitalizing on the current market strength, you can potentially maximize your return on investment.

Ready to Discuss Your Options?

eXp Commercial, a leading Chicago-based brokerage specializing in multifamily properties, can help you navigate the selling process. Their team of experienced professionals can offer valuable insights into the market and guide you towards achieving your goals. Contact eXp Commercial today to discuss your plans and explore your options for selling your multifamily property.

Source: RealPage Evaluates Its 2024 Apartment Market Picks

https://www.creconsult.net/market-trends/midwest-multifamily-market-booming-sell-property/

Friday, July 26, 2024

Dekalb Price Reduced

Fully Occupied 24-Unit Multifamily Dekalb, IL
Price: $1,100,000
Current Cap Rate: 7.75%
Proforma Cap Rate: 9.0%
Below-market rents
Flexicore Construction/Sprinklered
New Boiler/Newer Roof
Resurfaced Parking Lot
Listing Agent: Randolph Taylor
rtaylor@creconsult.net | 630.474.6441

Property Website/OM: https://www.creconsult.net/dekalb-il-multifamily-property-sale-924-greenbrier/

Thursday, July 25, 2024

Multifamily Market Stabilization: Rent Growth and Vacancy Rates Improve

The last two years have proven challenging for the multifamily industry, with declining rent growth, rising vacancy, and surging supply. However, the corner may finally be turning, indicating multifamily market stabilization. Jay Lybik, national director of multifamily analytics for CoStar, highlighted these emerging signs in a recent webinar and offered his predictions for the third and fourth quarters of 2024.

Demand Shows a Solid Comeback

The second quarter saw a boom in multifamily demand, with 170,000 units absorbed. This is the highest total seen since the third quarter of 2021, Lybik said. Despite supply that remains near record highs, this increase in demand helped shrink the supply-demand gap to the smallest it’s been in 11 quarters. The supply-demand gap is projected to equalize further in 2025, when projected deliveries are expected to drop by 40 percent.

Vacancy Rates Hold Steady

Thanks to the rise in demand, the national vacancy rate has stopped the sharp upward trendline that began in 2021. After rising slightly from the fourth quarter of 2023 to the first quarter of 2024, the vacancy rate has remained at 7.8 percent for the last two quarters. “This is the first time vacancy hasn’t risen in almost three years,” Lybik said, “and it’s forecast to hold stable through the end of the year.”

Rent Growth Slowdown Has Stopped

Vacancy isn’t the only indicator that appears to be stabilizing. After dropping precipitously from pandemic-era highs, rent growth has been hovering around 1 percent since the middle of last year. This represents a dramatic change, Lybik said, and could even pave the way for rent growth to begin to rise in the third quarter. CoStar forecasts show a slight uptick in rent growth for Q3 and Q4.

Recovery Across Price Points and Regions

Not all segments and regions of the market are equally poised to begin the recovery, however. Luxury apartments, known in the CoStar building rating system as four- and five-star properties, will lag behind. Oversupply has hit this category the hardest. As a result, improvements in rent growth for luxury apartments have remained modest. Rent growth for this class rose from negative territory to 0.2 percent, underperforming both the national average (1 percent) and the average for mid-priced apartments (1.5 percent).

From a regional perspective, the Sun Belt faces similar struggles. This region, after pandemic-era success, now confronts a significant mismatch between high supply and low demand. This has driven rent growth for the region into the red. In the second quarter, the Sun Belt posted cumulative rent growth of negative 1.3 percent, while the Midwest and Northeast tied for first place with 2.5 percent.

Despite these differences, conditions will gradually improve for all price points and regions. “Overall, 2024 has gotten off to a strong start,” Lybik said. At the same time, he warned that inflation and the potential for recession remain significant downside risks for multifamily fundamentals.

Source: https://www.apartments.com/grow/learning-center/state-of-the-market-mid-year-2024-webinar https://www.creconsult.net/market-trends/multifamily-market-stabilization-2024/

Monday, July 22, 2024

1150 McConnell

73,245 SF Industrial-Manufacturing-Distribution
1150 McConnel Rd. Woodstock, IL 60098
Price: $4.,750,000
Highlights:
5.2 Acres, M1 Zoning
Owner-User/Investor Offering
5 Dock High Doors/1 Grade Level
Dedicated Active Rail Spur/Dock
Recently Renovated Well Finished Offices
Heavy Floor Load, Heavy Power
1270 McConnell, 16K SF Also For Sale
Listing Agent: Randolph Taylor, CCIM
P: rtaylor@creconsult.net | 630.474.6441
Property Website/OM:
https://www.creconsult.net/industrial-property-for-sale-73245-sf-in-woodstock-il/

Friday, July 19, 2024

Fairway Lakes Estates

For Sale: 77-Acre Golf Course Community (Land)
Fairway Lakes Estates -Frankfort, IL
Price: $6,950,000
60 single-family lots
R-2: Residential Single Family
Golf Course Views-Green Garden Country Club
Public sewer, water, and paved roads
Listing Agent: Randolph Taylor
rtaylor@creconsult.net | 630.474.6441
Property Website/OM:
https://www.creconsult.net/fairway-lakes-estates-development-opportunity/

Wednesday, July 17, 2024

Multifamily Absorption Posts Strongest Quarter Since 2000

Year-to-date (YTD) absorption has nearly surpassed the total demand from last year

A new report from Cushman & Wakefield bears out the findings of other research reports, namely that demand for multifamily units is booming and so is absorption. Vacancy has reached its lowest point since mid-2021. With construction way down, all the signs point to a recovery of fundamentals, including rents, in the next two years.

With 138,000 units absorbed in the second quarter, multifamily vacancies were pushed down 10 basis points. "Year-to-date (YTD) absorption has nearly surpassed the total demand from last year and is up 75% over the first half of 2023," Cushman reported. It believes the future looks good as a resilient labor market stimulates household formation and wages grow.

2Q2024 was the strongest quarter on record since 2000, the report said. Year-to-date saw absorption of nearly 230,000 units, almost surpassing the total of 253,000 units for the whole of 2023.

"At 8.6%, vacancy remains 150 bps above pre-pandemic levels, but stellar demand levels have resulted in a directional change in the vacancy rate for the first time in 11 quarters," Cushman said.

There were lower vacancy rates in more than half of the 90 markets Cushman tracks in the second quarter than in the first. The sharpest drops were in Reno, Minneapolis, and Richmond. In each city, vacancy fell more than 90 bps in the quarter. By region, vacancies in the Midwest dropped about 30 bps. Even the Sunbelt, with the highest regional vacancy rate of 10%, saw it fall for the first time since the pandemic, with absorption rising most in Dallas/Fort Worth, Houston, New York, Austin, and Atlanta.

Despite the surge in uptake, asking rent growth did not match it. It climbed 1.7% over the year, about half its historical average. "The competition for leasing remains fierce in the face of nearly 265,000 units that were delivered in the first half of 2024," the report noted.

The Midwest (4%) and Northeast (3.3%) continued to lead the nation in annual rent growth. The Sun Belt, up 1% quarter-over-quarter, and the West, up 0.9%, could only manage slight upticks in rent.

"Approximately 695,000 units remain under construction, which will create more competition for leases over the next 18 months." At the same time, the 130,000 units started in 2024 are 60% fewer than in the same period in 2023. "The sharp falloff in new construction starts has emptied the pipeline as projects deliver. For the first time since the third quarter of 2021, the Sun Belt no longer has the largest share of units under construction as a percentage of its inventory. That honor now belongs to the Northeast, with 6.2% of its inventory under construction."

Despite the falloff, the report said Sunbelt markets could recover more quickly than the supply pipeline suggests because they are some of the most in demand in the nation. For the nation as a whole, Cushman predicted that fundamentals should begin to recover in 2025–2026.

Source: Multifamily Absorption Posts Strongest Quarter Since 2000

https://www.creconsult.net/market-trends/multifamily-housing-demand-record-absorption/

Tuesday, July 16, 2024

Annual Multifamily Rent Growth Remains Steady at 1%

Annual multifamily rent growth has hovered around 1% for about a year following a rapid deceleration in 2021 and 2022.

The U.S. multifamily market has enjoyed the smallest supply-demand gap in 11 quarters as it absorbed 170,000 units during the second quarter on 180,000 new units delivered. Vacancy remained stable from the first quarter at 7.8%, marking the first quarter in almost 3 years that vacancy has not risen, according to a report on 2Q multifamily rent trends by Apartments.com.

Asking rent growth dipped slightly year over year during June to 0.9% compared with 1% growth in the four prior months, although month-to-month rent growth decelerated to 0.1% after three months of 0.4% growth. Annual rent growth has hovered around 1% for about a year following a rapid deceleration in 2021 and 2022.

Both Midwest and Northeast markets turned in a strong performance with rent growth of 2.4% over the past four quarters. These markets have benefited from avoiding oversupply conditions, the report said. Western markets posted rent growth of 0.5% on weak demand and elevated completions, and heavy oversupply conditions in the South kept annual rent growth at zero, according to the report.

Louisville, Kentucky, posted the strongest annual asking rent growth of the top 50 markets nationwide at 4.9%, followed closely by Cleveland and Washington, D.C. Meanwhile, rents fell by 5.7% in Austin, Texas, while rent losses ranged from 3.1% to 2.2% in Tucson, Arizona; Raleigh, North Carolina; Jacksonville, Florida; and Atlanta. Eight of the bottom ten performing markets are in the South, where supply-demand imbalances remain a challenge, said Apartments.com.

Most new supply in multifamily is aimed at the luxury market (4- and 5-star units), which led absorption with just over 123,000 units for the quarter. However, rent growth was stronger in the mid-priced 3-star property market at 1.5% compared with the luxury market where rents grew only 0.2% at the end of June. Net absorption in the 3-star market was 43,000 during the second quarter, up from 33,000 units in the first three months. Improving consumer confidence, lower inflation and sustained economic expansion helped boost 3-star demand, the report said.

Those factors also boosted demand for 1- and 2-star properties, which posted positive absorption for the first time in 2 years. Households at this price point struggled in 2022 and 2023 with higher housing costs and the elevated costs of everyday items, pushing some to seek alternative housing solutions such as moving in with roommates or returning to the family home.

The multifamily market is projected to add 574,000 units in 2024, which is only a slight pullback from the prior year's record. Markets in the South and luxury properties remain most at risk for weakness due to oversupply conditions, while Midwest and Northeast locations and mid-priced 3-star properties could outperform, the report said.

Source: Midwest, Northeast Highlight Improving Multifamily Market

https://www.creconsult.net/market-trends/annual-multifamily-rent-growth-2024/

Tuesday, July 9, 2024

Sequence 8

1270 MCConnell Rd

16K SF Industrial Property 7.2% Cap Rate
PRICE: $1,200,000
HIGHLIGHTS:
16,000 SF, 1 Acre, M1 Zoning
Fully Occupied, 2 Stable Tenants
Steel Construction/Steel Roof
16' Ceiling Heights
2-Dock High Doors
1 Grade Level Door
Fully Sprinklered/Monitored
1150 McConnell, 73K SF Also For Sale
LISTING BROKER: Randolph Taylor, CCIM
rtaylor@creconsult.net, 630.474.6441
PROPERTY WEBSITE/OM:
https://www.creconsult.net/occupied-industrial-property-woodstock-sale/

1150 McConnell

73,245 SF Industrial-Manufacturing-Distribution
1150 McConnel Rd. Woodstock, IL 60098
Price: $4.,750,000
Highlights:
5.2 Acres, M1 Zoning
Owner-User/Investor Offering
5 Dock High Doors/1 Grade Level
Dedicated Active Rail Spur/Dock
Recently Renovated Well Finished Offices
Heavy Floor Load
Heavy Power
Connecting Ramp/Dock Doors Adjacent Property
1270 McConnell, 16K SF Also For Sale
Listing Agent: Randolph Taylor, CCIM
P: rtaylor@creconsult.net | 630.474.6441
Property Website/OM:
https://www.creconsult.net/industrial-property-for-sale-73245-sf-in-woodstock-il/

Friday, July 5, 2024

Dekalb Price Reduced

PRICE REDUCED!
Fully Occupied 24-Unit Multifamily Dekalb, IL
Price: $1,100,000
Cap Rate: 7.75%
Below-market rents
Roominghouse: 22-Singles/2-Doubles
Flexicore Construction/Sprinklered
New Boiler/Newer Roof
Resurfaced Parking Lot
Listing Agent: Randolph Taylor
rtaylor@creconsult.net | 630.474.6441

Property Website/OM: https://www.creconsult.net/dekalb-il-multifamily-property-sale-924-greenbrier/

Wednesday, July 3, 2024

Sequence 7

Tuesday, July 2, 2024

Sequence 6

Monday, July 1, 2024

Strong Multifamily Demand Persists Despite Rising Costs

Although multifamily operators face challenges, including rising costs and high interest rates, demand is keeping absorption consistent in most markets.

Dive Brief:

Following several months of declines, the national average rent rose for the second month in a row in April, up $6 to $1,725, according to Yardi Matrix’s latest Multifamily National Report. Year-over-year rent growth remained unchanged at 0.7%
Overall, rents are up $12 this year to date and only off by $2 from the all-time high of $1,727 set last summer.
While expenses and insurance costs are on the rise and interest rates remain elevated, demand is still consistent, enabling healthy absorption in most markets, according to Yardi. This stems from high household formation rates, a strong job market, immigration and domestic migration to the South and West regions of the country.

Dive Insight:

The single-family build-to-rent sector also had a strong month in April, with the average rent rising $9 to an all-time high of $2,154. YOY rent growth rose 10 basis points to 1.3% for build-to-rent properties, and occupancy remained at 95.4%. Boston had the highest year-over-year single-family rental growth by far, at well over 20%.

The average lease renewal rate was 65.8% in March, the lowest rate recorded in the past two years. (Renewal rate information is current to the previous month.) Renewal rents rose 4.4% YOY in March, up 80 basis points from February.

Market	YOY rent growth, April 2024	YOY rent growth, March 2024	Difference
New York City	4.6%	5.0%	-0.4
Columbus, Ohio	3.8%	4.5%	-0.7
New Jersey	3.5%	3.4%	0.1
Kansas City, Missouri	2.9%	3.7%	-0.8
Chicago	2.9%	3.1%	-0.2
Washington, D.C.	2.8%	2.8%	0
Boston	2.6%	2.6%	0
Philadelphia	2.5%	2.2%	0.3
Indianapolis	2.3%	3.5%	-1.2
Detroit	2.0%	1.5%	0.5

SOURCE: Yardi Matrix

The ongoing demand for new apartments is not limited by region or market size, according to Yardi. New York City and San Francisco, two gateway metros hit hard by outmigration, have recorded positive new unit absorption over the last two years and maintained consistent occupancy YOY through March. New York City is also the market with the strongest rent growth this month, at 4.6% year over year.

Meanwhile, occupancy has slipped slightly in Midwest and Sun Belt markets, owing to an abundance of new units coming online. However, as demand for these units is still high, negative rent growth is abating in some of these markets. The only two in Yardi’s top 30 with YOY rent growth under -3% are Austin (-6.5%) and Atlanta (-3.4%)

“Though apartment demand has cooled after 2021’s record 620,000 units, it remains consistent,” the report said. “That’s good news with supply growth at multi-decade highs. Over the next year or two, it may take longer to lease up new properties in high-supply Sun Belt markets, and owners may have to offer concessions to attract and retain tenants, but if demand remains healthy, fundamentals will return to normal after new stock is digested.”

Source: Rents are on the rise again, moving close to all-time highs

https://www.creconsult.net/market-trends/multifamily-demand-strong-rising-costs/

Wednesday, June 26, 2024

Sequence 5

Tuesday, June 25, 2024

Sequence 4

Friday, June 21, 2024

Dekalb Call For Offers

CALL FOR OFFERS: Thursday, JUNE 27TH
Fully Occupied 24-Unit Multifamily Dekalb IL
Price: $1,200,000
GOI: $132,600
Cap Rate: 7.68%
Below-market rents
Roominghouse: 22-Singles/2-Doubles
Flexicore Construction/Sprinklered
New Boiler/Newer Roof
Resurfaced Parking Lot
Listing Agent: Randolph Taylor
rtaylor@creconsult.net | 630.474.6441

Property Website/OM: https://www.creconsult.net/dekalb-il-multifamily-property-sale-924-greenbrier/

Wednesday, June 19, 2024

Sequence 3

Tuesday, June 18, 2024

Sequence 2

Monday, June 17, 2024

Dekalb Showing

SHOWINGS: Thursday, JUNE 20th, 12:30-2
Fully Occupied 24 Unit Multifamily Dekalb IL
Price: $1,200,000
GOI: $132,600
Cap Rate: 7.68%
Below-market rents
Roominghouse: 22-Singles/2-Doubles
Solid Flexicore Construction
New Boiler/Newer Roof
Resurfaced Parking Lot
Listing Agent: Randolph Taylor
rtaylor@creconsult.net | 630.474.6441

Property Website/OM: https://www.creconsult.net/dekalb-il-multifamily-property-sale-924-greenbrier/

Friday, June 14, 2024

Top Ten May

Happy to be one of the Top 10 Producers for eXp Commercial last month!
-------------
The May 2024 Rankings have arrived! 🌟

Let's give a big shoutout to our top producers!

Your unwavering commitment, tireless effort, and remarkable accomplishments keep raising the bar for excellence at eXp Commercial.

https://www.creconsult.net/home-chicago-multifamily-brokerage/broker/broker-randolph-taylor/