1120 E Ogden

Retail / Office Space For Lease | 3,674 SF | $20/SF NNN
1120 E Ogden Ave, Suite 101 | Naperville, IL 60563
Broker: Randolph Taylor rtaylor@creconsult.net | 630.474.6441

https://www.creconsult.net/retail-office-for-lease-1120-e-ogden-ave-suite-101-naperville-il-60563/?wpo_all_pages_cache_purged=1

Mason Square

Just Listed! Fully Equipped Car Wash For Sale
1250 Douglas Rd | Oswego IL | 3,750 SF | 6 Bays | 1.19 Acres
Mason Square Car Wash, a fully equipped and operational 6-bay carwash in southwest suburban Chicago’s Oswego, IL. Ideally located on an out-lot of the Mason Square Shopping Center along heavily trafficked Route 34, averaging 45,000 vehicles per day,
Listing Agent: Randolph Taylor 630.474.6441 | rtaylor@creconsult.net
https://www.creconsult.net/fully-equipped-car-wash-oswego-il-route-34/

Falling Housing Prices Signal Inflation Retreat Won't Be Far Behind

After over a year of unprecedented rent growth and soaring inflation, housing costs have been in retreat for three months.

Inflation measures, thanks to a lagging dataset, have yet to follow suit. But that could soon change.

In October, shelter made up the vast majority of the core consumer price index inflation measure, or more than 10 times what all other nonfood and energy sectors contributed, The Wall Street Journal reports. Yet when shelter costs were excluded, inflation all but vanished in the core consumer price index for October, mirroring what private sector research from entities like Zillow have observed in the housing market over the same period.

The Bureau of Labor Statistics bases its rent and estimated homeowner equivalent measures on what is actually being paid, while private estimates incorporate asking rents and newly signed leases, the WSJ reports.

As BLS data catches up to easing housing prices, inflation measures could retreat to near the Federal Reserve's target rate of 2% in the next few months, Piper Sandler Senior Economist Jake Oubina told the WSJ.

Though wage growth and employment rates are also focused of Fed policy, a retreat in inflation could give the financial regulator a signal that the aggressive interest rate hikes it pursued this year are no longer necessary.

If the Fed backs off on interest rates, it could in turn thaw the capital markets that have all but frozen for commercial real estate in the past few months.

Should inflation retreat along a friendly timeline and the Fed respond promptly, a significant recession may not happen, despite seeming like a near certainty to some in October.

Steep drops in value for several property sectors may represent the deflating of bubbles, as banks held to tighter underwriting and balance sheet standards implemented in the wake of the Great Financial Crisis, Bloomberg reports.

 

 

Source: Falling Housing Prices Signal Inflation Retreat Won’t Be Far Behind

https://www.creconsult.net/market-trends/falling-housing-prices-signal-inflation-retreat-wont-be-far-behind/

Morrison Call For Offers

Call For Offers: Wednesday June 21st, 2023
23-Unit Value Add Multifamily | $425,000
21% Cap Rate (Pro Forma)
Listing Agent: Randolph Taylor, CCIM
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/for-sale-heavy-value-add-23-unit-multifamily-property-morrison-il/

Multifamily sellers: How to qualify a buyer before going under contract

Multifamily sellers: How to qualify a buyer before going under contract

Don’t waste time and opportunities: learn how to select the right buyer every time

As the seller of a multifamily asset, it’s crucial that the buyer you select is the best possible prospect for your property. Don’t waste time, money, and opportunities: you must ensure they’re qualified and can close and execute the contract as signed.

Keep reading to learn why it’s essential to qualify a buyer before going under contract on your multifamily property and how to do it.

Why do I need to qualify a buyer?

It’s important to close with the first buyer you select. If you don’t, each buyer after that will ask themselves, “What did that other buyer discover about this property that I am missing?”.

When you enter into a contract with a refundable deposit, you’re basically giving your chosen buyer a free option on your property for a period of time, typically 30–60 days. Before you proceed, you must be confident that they can close and execute the contract as signed.

What’s more, your tenants and staff will be disturbed throughout the contract process. To minimize the period of disruption, you should do all you can to ensure the transaction will close successfully at the end of the contract process.

As a seller, you’re required to provide due diligence information to the prospective buyer. When you qualify your buyer, you’ll greatly reduce the risk of wasting a lot of time and doing a lot of work only to not close on the property.

How do I qualify a buyer?

Before you sign the contract, make sure that your prospective buyer can provide certain items. Always ask them for the following:

– Proof of funds

– Lender pre-qualification

– A list of the other properties they own

– A list of the sellers and agents that they have worked with

For added reassurance, it’s recommended that you call the buyer’s lender to confirm their pre-qualified status. You can also call the agents, sellers, and buyers they’ve closed with in the past to enquire about how the transactions went.

Has the buyer toured the property in person before making an offer? Have they reviewed the due diligence information beforehand? If they have, this is a great sign. It’s proof that they have seen and have taken into account any issues with your property, and this greatly reduces the chances that they may later want to back out of the sale, saying they were unaware of the building’s condition. Be very wary of a buyer who doesn’t tour your property in person.

A prospective buyer who shows they’re motivated and wants to move quickly is also a great sign for a successful closing. The shorter the due diligence period, the better, and the larger the deposit, the better.

When you spend the time making sure your prospective buyer fulfills these criteria, you’ll put yourself in a great position to close successfully and ensure a quick and smooth transaction.

If you need help selling your multifamily property, eXp Commercial is here. Our objective as your multifamily advisor is to help you achieve your investment goals: from determining the listing price to selecting the best buyer and handling the sale process through to the closing, we’ll facilitate a smooth transaction for you.

 

Source: Multifamily sellers: How to qualify a buyer before going under contract

https://www.creconsult.net/market-trends/multifamily-sellers-how-to-qualify-a-buyer-before-going-under-contract/

Do I need an attorney for my commercial real estate deal or is my broker enough protection?

Does a seller or a buyer of commercial real estate really have to hire an attorney? The unmistakable answer is, "Yes!"

A broker is a licensed professional who you hire to negotiate the sale or purchase of a real estate for a fee or a commission. However, they are typically not attorneys. Many of them will clearly state that real estate brokers are not providing legal advice. Real estate brokers don’t usually get paid unless they close the deal (or unless you are somehow obligated to pay a commission, for example, by withdrawing from a deal). Therefore, brokers are usually not going to take care of the legal details and may even try to push a deal to close as fast as possible.

Be sure that separate legal advice from a good real estate lawyer is usually worth the additional cost. It's much more cost-effective to hire an attorney to get the deal done right than to get involved in an expensive lawsuit.

A good attorney can also be crucial to getting a beneficial purchase. Also, keep in mind that it’s best to hire an actual commercial attorney who deals with this kind of transaction daily. It may cost a bit more than a general lawyer, but it’s well worth it.

What does a real estate attorney actually do?

The job of a real estate lawyer is to negotiate and make a transaction happen in a peaceful way that's amenable and fair to all parties.

A real estate lawyer takes over after the selling terms and price have been determined by the real estate brokers in the contract, and the parties have signed. At that point, a real estate lawyer reviews the contract and negotiates any necessary adjustments to deal with terms. In case any last-minute issues come up, the lawyer will be at your closing, together with your real estate agent.

Experts believe you should always hire a real estate lawyer, no matter your circumstances, because it’s an added layer of protection for both sides, which covers the buyer and seller for all of the contract items. It’s simply a necessary level of protection for large purchases or sales.

Some brokerages even offer the services of a real estate lawyer and broker in one at no additional cost.

A commercial real estate transaction includes many complicated steps, and if the seller hires an attorney early in the process, the lawyer can help the seller to both protect their benefits from the sale and avoid liability if unexpected issues come up.

Many sellers, even the ones that hire an attorney later to prepare the closing documents, don't hire a lawyer during the listing stage, which is also a mistake. Even though Listing Agreements seem to be "standard," many agents are willing to negotiate the terms and conditions.

Either way, both commercial real estate sellers and buyers should engage their own lawyer as early in the process as they can to ensure their best interests are being met throughout the whole real estate transaction.

 

Source: Do I need an attorney for my commercial real estate deal or is my broker enough protection?

https://www.creconsult.net/market-trends/do-i-need-an-attorney-for-my-commercial-real-estate-deal-or-is-my-broker-enough-protection/

Why Should I Sell My Multifamily Property?

Why should I Sell My Multifamily Property?

There are a number of reasons why people decide to sell their multifamily property, but most can be categorized into three groups: Problems, Opportunities, and Changes.

With this decision though comes the consideration of capital gains tax and how to ensure you are getting the most for the sale of your property.

There are several reasons why people do sell:

Problems:             

• Management
• Vacancy
• Maintenance
• Stress
• Health
• Debt
• Neighborhood
• Interest Rates

Opportunities: 

• Strong Market Values
• Alternate Investment
• End of the Hold Period
• Tax Savings

Changes:               

• Divorce
• Death
• Retirement
• Partnership Split
• Relocation
• Consolidation
• Diversification

What do I do with the sales proceeds? I don't want to pay Capital Gains Tax!

There are several options for sellers to defer or minimize capital gains taxes:

• 1031 Exchange
• Delaware Statutory Trust/Deferred Sales Trust  (DST)
• Tenancy in Common Investment (TIC)
• Installment Sale

How do I know I am getting the most money for my property?

We not only market properties for sale. We make a market for properties we represent. Each offering is thoroughly underwritten, aggressively priced, and accompanied by loan quotes to expedite the sales process. We leverage our broad national marketing platform syndicating to the top CRE Listing Sites with direct outreach to our investor database and an orchestrated competitive bidding process that yields higher sales prices. 

What is my property worth?

Contact Us to discuss what information is needed to complete a Complimentary Commercial Broker Opinion of Value (BOV). 

I’m not interested in selling at this time.

This is understandable as only about 5% of the market trades in any given year. We are also happy discuss any purchase or refinance interests and recommend some physical and operational changes you can make to add value to your property you will appreciate when you eventually sell.  

 

Have you thought of selling your property and would like to know what it's worth? Request a valuation for your property below:

Request Valuation

eXp Commercial Chicago Multifamily Brokerage focuses on listing and selling multifamily properties throughout the Chicago Area and Suburbs.

We don’t just market properties; we make a market for each property we represent. Each offering is thoroughly underwritten, aggressively priced, and accompanied by loan quotes to expedite the sales process. We leverage our broad national marketing platform syndicating to the top CRE Listing Sites for maximum exposure combined with an orchestrated competitive bidding process that yields higher sales prices for your property.

 

https://www.creconsult.net/market-trends/why-should-i-sell-my-multifamily-property/