The Chicago Association of REALTORS®, the “Voice for Real Estate” in Chicago since 1883, represents over 17,000 members from all real estate specialties including commercial sales, development, property management, appraisal, auctions and residential sales.
The responsibility of REALTORS® as economic stewards and the challenges of low inventory were the main points of discussion for the panel. However, each brought their own unique focus and professional expertise to the table.
Commercial: Deena Zimmerman, SVN Chicago Commercial
Chicago continues to see vacancy rates at an all time low. The new hit thing is creative office space, especially to attractive young, top talent. Major corporations are shifting from the suburbs to the city for this reason. Creative space will be moving west and south due to lack of inventory, and the best thing commercial investors can do right now is scoop up west and south industrial suburban warehouses for the growing medical marijuana industry. Shopping centers are not going away, but they will be going more lifestyle and less retail. And if you’re thinking of investing in restaurant franchises, drive through potential is key.