RESERVE AND RECEIVE
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|JCF's John Fitzmaurice and Paul Robertson have a lot to offer. The two are leasing a brand new office park in St. Charles and working on 75 receivership assignments between $1M and $5M. John, a court-appointed receiver for 20 years says this commercial real estate downturn will last a lot longer than previous cycles—maybe up to two and a half more years. (Yikes. By then the Cubs might win the Series. Maybe.... probably not.) He tells us that most of the properties he's working with are still small and banks are not yet willing to part with some of the larger properties that may still regain value after the recession.|
|JCF's new suburban office complex, The Corporate Reserve of St. Charles is starting to pick up its leasing velocity with 90% of its first phase occupied by Ohio Farmer's Insurance, St. Charles Consulting Group, Williams Construction, and AMI Communications. So far, the campus includes two single-story, 15k SF buildings and is slated to include two more, as well as a three-story building that will include first-floor retail (potentially white tablecloth restaurants). This is the first Class-A office space going up in the far western suburb and it includes access to bike trails and great views of the prairie and forest preserve. Paul says he's seen a lot of interest from companies with execs that live in the Fox River Valley or the Sycamore/DeKalb area and are tired of commuting into the city, Oak Book, Naperville, and Schaumburg.|