5 Tips to Selling or leasing commercial properties in Will County

Will County is growing and growing, and it has become the trucking portal of the US over the past 20 years. With central location and centers like center point, it is very easy to get in and out of the area. With that being said warehouse space is becoming more and more scarce. At the same time, international online business have been moving into the area such as Amazon are building in the area.

Our community is growing and our commercial real estate values are rising as well. If you are looking to sell or lease this is the time to really get more aggressive on the market and to build on your property investments. If you own a warehouse, vacant land or industrial properties and you're ready, it's always good to sit down with an experienced agent and get the process started.

1. Seek out an agent rather than an agency. Sure there are reputable agencies all over, and some do amazing work. But it is much less likely your property will be a prime concern. Finding a specific agent with references is the way to go. Sure you will still get an agency if you wish but you will also have an agent you feel meets your needs.

2. Get a property inspection. You want to know that any imperative outstanding issues that must be fixed can be handled. This will ensure that your tenants are happy and that you will not run into issues down the line.

3. Look at what other properties in the area with similar age and features are selling and or renting for is also a great idea. Even getting a proper appraisal is highly important. This will help you place a solid number on your property.

4. Work with your agent. The agent may need some wiggle room to get your deal done in a timely fashion. Just remember sometimes you have to budge a little!

5. Have your landscaping and lawn care maintained, it will greatly increase the appearance of the building. Also, it is a proven fact that commercial properties with maintained lawns and landscaping draw 15% more interest that properties without lawn and landscaping maintenance.



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Large E-commerce businesses leading to low vacancy rates

Large E-commerce businesses leading to low vacancy rates

Last quarter Chicago industrial properties just had one of it’s best quarters ever, capping off what was already a solid year. Tenant’s absorbed 7.1 million square feet of space just in the fourth quarter giving a positive net absorption for 2016 up to 15.3 million square feet. The industrial market has now seen 27 consecutive quarters of growth.

The I-80 corridor has been leading the region and last quarter was a good example. Tenants last quarter absorbed 2.7 million square feet leading the way was IKEA, Samsung, and Amazon.

E-commerce is leading the way, mainly Amazon. Amazon has leased a total of two million square feet across three properties accounting for 41% of the space. Still a lot of e-commerce businesses operating below the radar, have leased smaller spaces.

Vacancy rates have been cut in half since the height of the recession. During the fourth quarter, vacancy rate went from 7.9% to 7.6%, the lowest rate in ten years. Builders are trying to keep-up with new demand with 18 million square feet underway in 53 projects and 48% of is on the speculative basis.

Patrick Commercial’s Weinhold completes 4 deals in last quarter of 2016

NAPERVILLE, IL – Patrick Commercial’s James Weinhold recently completed four leases negotiations in the last quarter of 2016.

Weinhold represented tenant PitStop Truck and Repair Services LLC in a lease of 9,472 sf of warehouse and office space located at an undisclosed location from an undisclosed landlord. Weinhold represented Green Lawn Care in the lease of 3,500 sf warehouse and office space located at 16440 Cherry Creek Court from an undisclosed landlord. Weinhold represented tenant AOSY, Inc. in a lease of 1,057 sf of office space located at 4300 Commerce Court in Lisle, Illinois from an undisclosed landlord. Lastly, Weinhold represented tenant Overnite Express, Inc. in a lease of 9,430 sf of warehouse space located in Plainfield, Illinois from an undisclosed landlord.

Finding Warehouse space in Will County

Finding Warehouse Space in Will County

It is hard finding good retail or warehouse space to rent in and around Will County. Since the 1990's the Will County area has been a growing trucking hub. With Center Point being built we also have seen many new trucking companies moving into the area. This makes finding proper warehouses for lease or sale a lot harder.

If you are looking for prime rental space or to buy, you are going to need a team that knows exactly how to find what you need.  below is a list of ten things to help you get started.  What are these five steps you ask? Well, they are all steps to ensuring you get the best commercial space possible at the right price, even with the market inflation! Yes, I also stated that market inflation is rising prices so this is something to keep in mind as well when you're looking to lease or buy.

1. Find a good solid reputable agent to help you in your search. This is the best way to ensure you as a business owner are covered in the leasing or buying process.

2. Always look at multiple properties, never feel forced or pressured to buy or lease. Be sure that the property you are looking at meets your needs.

3. Ask Questions! If you want to know how the property you are looking at can best service your needs ask away? Your agent should be able to answer almost any question you have or get you an answer within a short period of time!

4. Know your market. If your business needs direct access to a highway or freeway then you will need a better location than a building 30 miles from a highway. Be sure to let your agent know exactly what it is that you need.

5. Know your market value. Do your homework on the per SqFt market value. By knowing what your market value is, you are allowing yourself to have the full scope of what is going on with your property search.