Chicago Real Estate Pros Predict 2016’s Driving Factors

Orig Post www.bisnow.com| Re-Post Cawley Chicago 3/21/16

Bisnow 3-21-16

BOMA Chicago president TJ Brookover says to expect a lot of backfills later this year as tenants who’ve already signed leases for new office space in the pipeline move into that new product once it’s delivered. He also sees declining adaptive reuse inventory downtown, but that will have a positive effect for owners as it limits supply. If there is a lull in leasing activity in 2016, TJ says building owners and managers will shift their focus to operations and look for ways to offset operating costs. At some point, managers will be forced to look at security procedures and policies, which has been in a quiet period post-9/11. Real estate taxes are another issue heading into the new year. Developers and managers may ask the city to look at building codes and permit processes to lower costs and adopt an international standard if developers are footing the bill for higher property taxes.

(Click below to read more about predictions regarding:)

Hospitality…

Industrial…

Multifamily…

Retail…

Construction Costs…

Click here to continue reading… 

Advertisements
About

Our company helps business and property owners understand, create and maximize value in commercial real estate portfolios.

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog Stats
  • 6,269 hits
%d bloggers like this: