We’ve all heard the mantra about buying a home: location, location, location. But does it apply to commercial real estate location as well? Here are the most important considerations when purchasing commercial property.
If you are starting a business and leasing a commercial property, it is important to understand the difference between a residential lease and a commercial lease.
You’ve found the perfect location for your business, and you may want to lease it fast before it’s gone. However, you should slow down a bit and take the time to consider the lease carefully. You and your business will have to live within the commercial lease requirements of the agreement for years to come, and the wrong conditions could be detrimental to your business. You need to negotiate for the terms that will help you succeed.
The two most common reasons for terminating a commercial lease early are when the business outgrows the space or when business is severely reduced or going out of business. In either case, breaking a commercial lease can have severe consequences that can make a lasting impact on your business.
Navigating the landscape of commercial leases can be a daunting task, with each type of lease bringing its own set of implications for the financial health and operational flexibility of your business. Understanding the major types of commercial leases is vital to securing the best possible deal that aligns with your business objectives.
While some worry about a real estate glut, construction starts in Chicago remain strong. Demand for apartments and industrial space remain strong and developers are moving forward with a number of projects throughout the city and suburbs to support it.
A good tenant can make all the difference for your commercial property. Likewise, the wrong tenant can turn your investment property into your worst nightmare and can impact your profit potential. It takes time and effort to find the right tenant, but the rewards are worth the effort. Here are a few things to consider when looking for the right tenant.
Daniel Hyman recently brokered the purchase of a former Ultra Foods location in Downers Grove for $2.65 million. A stalking horse buyer was secured to purchase the 78,850 square foot store at 1212 75th Street through a bankruptcy court-ordered auction.
Michael Mintz recently brokered the purchase of a triple net leased Walmart in California for $13.5 million. The 45,648 square foot building, located in Palm Desert, is in a Class A, luxury location with nine years remaining on the initial term. Millennium Properties represented ADF Capital, Ltd. in purchasing this asset, conducting a national search for a net lease investment with strong long-term fundamentals.
Daniel Hyman and Greg Block were named the exclusive listing agents for the sale of Lakeside Congregation's campus in Highland Park. This five acre campus is located jest east of Skokie Hwy. and across the street from the Chicago Botanic Garden.