| Let's hope Christmas in July comes early this year: first-quarter Chicago retail stats are mixed , with the slight increase in job growth contributing to a slow recovery for single-tenant and urban marketplaces, according to a Marcus & Millichap report. It predicts that vacancy will moderate this year, staying high in the south and southwest suburbs. | ||
| Vacancy rates in the city inched down by 20 basis points to 6.6%, but are expected to lose 20 basis points by year-end. Asking rents increased to $23.24/SF, but are also expected to decline to $23.01 over the same period. In the 'burbs, vacancy is up 130 basis points from a year ago, to 11.8% and may rise as high as 12.2%. Asking rents declined to $18.20/SF and are expected to fall to $17.91. | ||
*** Lincoln Investment Planning signed a 6k SF lease at 500 Waters Edge in Lombard. Cawley Chicago Commercial Real Estate's Cody Sundberg and Rawly Lantz repped landlord KBS Realty Advisors. *** RehabTECH has signed a long-term lease for a 30k SF building at 335 Eisenhower Lane South in Lombard. Cushman & Wakefield's Sean Henrick repped the owner, TA Associates Realty. Lee & Associates' Jeffrey Janda repped the tenant. *** Grubb & Ellis Co.'s Matt Mulvihill, Tom Tunnicliff, and Sam Durkin represented Door Systems, a division of KONE, in the long-term lease renewal of 63k SF at 751 Expressway Dr. in Itasca. Companies *** Chicago real estate broker @properties celebrated its 10th anniversary this week. Co-founders Michael Golden and Thaddeus Wong started @properties in 2000 after a multi-year run as the top-producing agents among the Chicago Association of Realtors' 15k members. Today, the firm has more than 900 licensed agents, 60 employees and seven Chicago-area offices. Over the past decade the firm has brokered more than 4,400 real estate transactions totaling approximately $1.8 billion ***
People *** Bradford Allen Realty Services/TCN Worldwide co-founder Laurence Elbaum has been elected chairman of the TCN Worldwide Board of Directors for 2010-2011. He co-founded Bradford Allen Realty Services with Jeffrey Bernstein in October 2003. Sales |
Related Topics:
500 Waters Edge, Bradford Allen Realty Services, Burr Ridge, Cawley Chicago Commercial Real Estate, Chicago Association, Cody Sundberg, Dan Bick, East Dundee, Eisenhower Lane South, Ellis Co, Eric Spiess, Featherstone Consulting, Jeffrey Bernstein, Jeffrey Janda, Joseph Pomerenke, Laundry King, Laurence Elbaum, Matt Mulvihill, Michael Golden, NC Platinum, Paul Montes, Podolsky Northstar, Rawly Lantz, SalesInland Real Estate Brokerage, Sam Durkin, Sean Henrick, TA Associates Realty, TCN Worldwide, Thaddeus Wong, Tom Tunnicliff, Trend Carpet, Water's Edge
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories











