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FROM THE DESK OF BRUCE BOSSOW |
We like to take a moment this time of year to express our appreciation to our customers, clients, fellow brokers and all the good folks we do business with from attorneys to lenders to title companies and surveyors as well as environmental consultants. The faith and trust you put in us is something we do not take for granted. As we reflect back on how good a year it was for our firm, we wanted to wish you and your family a Happy Holidays and an even better year in 2023! |
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Featured Listings Available Now |
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215 State St.
Marengo, IL 60152
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GREAT STARTER INVESTMENT
Marengo-3-unit strip, fully leased on Rt 23 (State Street). 8.5% cap rate. Only $199,000.
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4318 W. Crystal Lake Rd.
McHenry, IL 60050
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OFFICE CONDO FOR LEASE
McHenry-1646 sq ft with 6 privates, kitchenette. Ideal for attorney, accountant, insurance, chiropractor, counseling. Only $1650/mo gross ($12.03 psf).
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820 Tollgate Rd.
Elgin, IL 60123
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INDUSTRIAL CONDO FOR LEASE
Elgin-9566 sq ft pre-cast flex space with 1/3 office and 6566 sf warehouse. 24’ ceilings, common dock, 4 DID’s, triple basin drains, 400 amps 3-phase power. Near tollway.
$10 psf NNN.
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241 Commerce Dr.
Crystal Lake, IL 60012
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PHENOMENAL OFFICE INVESTMENT
10,190 sq ft 2 story masonry elevator office building on Rt 176 built in 1990. 45 parking spaces. Has some vacancy but proformas at a 9.1% cap rate. Ideal for user/investor. Reduced to $775,000.
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701-703 E. Diggins St.
Harvard, IL 60033
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POPULAR RESTAURANT PLUS HOUSE
Harvard-132 seat restaurant/bar with full kitchen including pizza oven, hood, walk-ins, grease trap. Video gaming with 5 machines. Rented house. 54 paved parking. Great buy. $599,000.
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120-130 Washington St.
West Dundee, IL 60118
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RIVERFRONT OFFICE BUILDING FOR SALE
West Dundee-5711 sq ft 2 unit office building ideal for user/investor. Downtown West Dundee on the Fox River near restaurants and shopping. $899,120.
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$975,000 / Retail
9705 Prairie Ridge Rd.
Richmond, IL 60071
Heather Schweitzer
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$875,000 / Retail
21755 Grant Hwy.
Marengo, IL 60152
Heather Schweitzer & Bruce Kaplan
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$715,000 / Industrial
7501 Meyer Rd.
Spring Grove, IL 60081
Heather Schweitzer
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$650,000 / Retail
660 E. State Rd.
Island Lake, IL 60042
Heather Schweitzer
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$540,000 / Land
1513 Field Cir.
Freeport, IL 61032
Mike Deacon
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$370,000 / Office
820 E. Terra Cotta Ave.
Units #237,38,40,42,44
Crystal Lake, IL 60014
Heather Schweitzer
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$299,000 / Office
105 Main St.
Cary, IL 60013
Bruce Kaplan & Kevin Kaplan
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$295,000 / Industrial
815 Oakwood Rd.
Lake Zurich, IL 60047
Heather Schweitzer
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$180,000 / Land
Lot 2, Prospect St.
Marengo, IL 60152
Bruce Kaplan & Kevin Kaplan
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8,800 SF / Industrial
11261 Kiley Dr.
Huntley, IL 60142
Bruce Kaplan & Kevin Kaplan
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5,000 SF / Industrial
11271 Kiley Dr.
Huntley, IL 60142
Bruce Kaplan & Kevin Kaplan
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2,216 SF / Office
665 Tollgate Rd.
Elgin, IL 60123
Bruce Kaplan & Kevin Kaplan
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2,205 SF / Office
180 Detroit St.
Cary, IL 60013
Bruce Kaplan & Kevin Kaplan
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2,111 SF / Office
9 Crystal Lake Rd.
Lake in the Hills, IL 60156
Sharon Glasshof
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1,810 SF / Retail
129 E. Van Buren St.
Woodstock, IL 60098
Brian Cowell & Mike Deacon
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An Update on the Local Real Estate Market
Warehouse demand is cooling down from red hot to medium hot. Industrial vacancy ticked up in the third quarter from 3% to 3.2%, as developers completed a record 148 million square feet. Warehouse tenants occupied 108 million square feet in the quarter, down 18% from the prior three months, in the first national quarterly decline in industrial demand since mid-2020. But Industrial rents have increased more than 15% year over year.
The retail market is quietly posting its best year for rent growth in decades. Retail rents have pushed to record highs in 2022, as the sector remains in an impressive recovery coming out of the worst of the pandemic. Average triple-net asking rents are up by 4.5% across the U.S. over the past 12 months, with the pace of growth accelerating since the start of the year. Retail rent growth should moderate over the coming quarters as economic headwinds increase.
Fundamentals have begun to soften for apartments. Leasing activity during the spring and summer season significantly underperformed. As a result, new supply additions over the past three quarters have outpaced demand. The oversupply situation has helped push the national vacancy rate up from an all-time low of 4.7% just a year ago to 5.4% today. U.S. apartment prices sank for the first time since the start of the pandemic during the third quarter. The pullback in multifamily pricing comes as demand is weakening and rents are falling due mainly to affordability issues.
The office market remains depressed. New office leases are fewer and smaller than before the pandemic. Total office space leased in Q3 2022 was the lowest in five quarters. The average office size has shrunk by 15% since 2019. Deal activity is 18% lower year over year and 15% lower since Q3 2019.
By Troy Golden, Golden Group Real Estate
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Bruce Bossow x 12 / C: 847-732-3462
Bruce Kaplan x 20 / C: 847-507-1759
Heather Schweitzer x 15 / C: 815-236-9816
Heide Casciaro x 26 / C: 847-774-5660
Joe Billitteri x 21 / C: 847-833-5004
Kevin Kaplan x 13 / C: 309-261-0920
Sharon Glasshof x 14 / C: 847-533-6974
Brian Cowell x 18 / C: 815-529-7890
Mike Deacon x 28 / C: 815-814-6500
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9225 S. IL Route 31
Lake in the Hills, IL 60156
847-854-2300
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