The best opportunities and best value for not-for-profit tenants tend to be in Class-A- and Class-B buildings (think Central Loop and East Loop), says Studley executive managing director Terry Mostrom. Those are whererental rates haven't shot up high enough to outweigh the benefits of historically favorable concessions.
The American Society of Association Executives (ASAE, the trade association the represents trade associations... groovy right?) has teamed up with Studley and the tenant rep firm will be thenew preferred real estate advisor for ASAE member non-profits buying or leasing office space. In a recent deal, Studley's Rick Schuham, Lisa Davidson, and Eric Feinberg repped the YMCA in the $8.5M purchase of a 59k SF HQ at 1030 W Van Buren St(above, formerly home to the Jane Addams Hull House) on the Near West Side.