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CommercialForum a division of Chicago Association of Realtors® (C.A.R.) Recognizes CRER Brokers as Top Chicago Commercial Producers in 2015

March 17, 2016

March 15, 2016, Chicago, Ill. – Chicago Real Estate Resources (CRER) is once again pleased to announce that four of its commercial brokers have been awarded by the CommercialForum for their outstanding achievements.

Having our commercial brokers consistently recognized, year after year, as top producers is an affirmation of the level of professionalism and determination showcased by each and every one of them, and how effectively they serve their clients.” said Eric Janssen, President, Chicago Real Estate Resources.

  • Michael Tolliver – Top Commercial Producer – Gold Sales Award for Multi Family 5+ number of transactions.
  • Steven Rapoport – Top Commercial Producer -Gold Sales Award for Office Rental number of transactions.
  • Tim Keenan – Top Commercial Producer – Silver Sales Award for Multi Family 5+ number of transactions.
  • Nate Gautsche – Top Commercial Producer – Silver Sales Award for Retail Sales Volume.

CommercialForum awards are open to all C.A.R. members and were announced only after a precise recording of 2015 sales had been calculated. While 11,500+ members are eligible to receive this honor, only the top three brokers in each category receive awards.

Leased – Lincoln Park Burger King Location Coming to 748 W. Diversey

February 23, 2016

Nate Gautsche, a commercial broker with CRER, recently represented a Burger King franchisee in a long term lease of 1,845 SF at 748 W. Diversey Pkwy in Lincoln Park.  Formerly occupied by KFC for over 40 years, this rarely available space was in high demand and Nate was able to successfully secure the location for his client.

The retail center is anchored by Walgreen’s and offers ample off-street parking, pylon signage and visibility and access from Diversey and Halsted.  Please contact Nate Gautsche for more details.

 

CRER Listings in the Area:

800 W. Diversey Pkwy

777 W. Diversey Ave

Search Chicago Properties

 

http://www.crer.com/news/leased-%E2%80%93-lincoln-park-burger-king-location-coming-748-w-diversey

Recently Sold by CRER: Chicago Deal Sheet

February 10, 2016

 

SOLD

Chicago Real Estate Resources completed the following sales:

  • Mike Weaver repped both parties in the $1.2M sale of 800 W Diversey (shown). A former medical building, the property will be redeveloped into mixed-use.
  • Timothy Keenan repped the seller, a local investor, and Nate Gautsche repped the buyer, an out-of-state investor, in the $588k sale of 7442-28 S Calumet, a 16-unit multifamily property in Grand Crossing.
  • Jonathan Gil repped the buyer of an 8k SF warehouse with 14k SF of land at 5320 W Grand, for $650k.
  • Nate Gautsche repped the seller of 347 W Dickens and 2323 N Cambridge in Lincoln Park for a combined $2.6M.
  • Jonathan Gil repped the seller and Michael Weaver repped the buyer of 3430 W Diversey, a two-story, 12k SF commercial building in Logan Square, for $815k.
  • Michael Tolliver repped both parties in the sale of 3845 W Roosevelt, a 7,700 SF, value-add retail center. The property was 80% occupied at time of sale.
  • Timothy Keenan repped both parties in the sale of 6932–34 S Jeffrey Blvd in South Shore.
  • Timothy Keenan repped the seller and Nate Gautsche repped the buyer of 7304 S St Lawrence, an eight-unit multifamily property in Park Manor.
  • Nate Gautsche and Timothy Keenan repped the seller of 6355 S Washtenaw.
  • Michael Tolliver repped the seller of 5836 S Michigan, a stabilized eight-unit building in Washington Park.
  • Mike Weaver repped both parties in the $290k sale of 4313-15 W Fullerton, a 6,250 SF retail building that will be the new home of Ponce Restaurant.
  • Mike Weaver repped the seller of 1128 W Thorndale, a 10k SF auto repair building, for $350k.
  • Ken Van Santen repped the seller of 2319 Manhattan, a former daycare facility in Joliet, for $353k.
  • Steven Rapoport repped both sellers of 3350 W Evergreen, a six-unit condo property sold in two separate transactions. Five of the units were sold in a bulk condo sale and the sixth unit was purchased from an individual owner.

LEASES

Chicago Real Estate Resources completed the following leases:

  • Ashley Dillard repped Child Link in leasing 17k SF at 955 W Cermak (shown).
  • Nate Gautsche repped the landlord in the lease of 3,119 SF at 612 S Wabash to Harold’s Chicken.
  • Nate also procured a temporary lease with Halloween Hallway that generated a substantial amount of income for the property owner while lease negotiations were finalized with the new, long-term tenant.
  • Mike Weaver repped the landlord in the lease of 6,475 SF in the Capitol Commerce Center in Wheeling to Chicago Rehabilitation Institute of Chicago.
  • Mike Weaver repped both parties as Wood Restaurant expanded into an additional 1,100 SF at 3337 N Halsted. Wood has plans to renovate its private dining area.

Read more at: https://www.bisnow.com/chicago/news/deal-sheet/this-weeks-chicago-deal-sheet-55689?utm_source=MorningBrief&utm_campaign=20160210_chicago_morningbrief&be=ejanssen%40crer.com&utm_medium=email?utm_source=CopyShare&utm_medium=Browser

CRER New Website is Now Live

February 1, 2016

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CRER is Your Source for Commercial Real Estate

The Chicago Real Estate Resources (CRER) website has been upgraded to a new mobile and tablet friendly site. CRER is now only representing sellers and buyers of multi-family, mixed-use, retail, or other investment real estate and we are providing commercial leasing services for retail, office and flex properties. In addition, we offer property management, receiver services and the representation of bankruptcy and probate trustees. To learn  more about our services, visit our website and see how we can help. We are committed to providing you with the highest level of service possible.

Visit Our New Chicago Real Estate Resources Website.

View Our Updated Commercial Service Options

 

Large - Homes - Urban Brownstones - Real Living Real Estate

CRER Residential is now Real Living City Residential

Our residential division of Chicago Real Estate Resources (CRER)  is now Real Living City Residential. The Real Living brand is a part of HSF Affiliates LLC  and is majority owned by HomeServices of America, Inc.TM, a Berkshire Hathaway affiliate. Real Living City Residential is offering a comprehensive and integrated suite of resources aimed at helping our clients successfully navigate through the home buying and selling processes.

CRER Inc will remain your resource for selling, buying, leasing and managing your commercial property.  We look forward to working with you in the future! For your residential property needs, please contact our sister company Real Living City Residential.

Visit the New Real Living City Residential Website

 

 

 

Closed! Two Value Add Multifamily Investments in Marquette Park

January 21, 2016

Nate Gautsche and Tim Keenan of Chicago Real Estate Resources’ downtown office represented the seller of 6355 S. Washtenaw that closed this week for over $43k/unit.

This is their second sale in the last 60 days in the neighborhood.  Nate and Tim also represented a different seller in the sale of 2522-24 W. Marquette for over $37k/unit (pictured below).

Contact: Nate Gautsche

Contact: Tim Keenan

A 360 unit Apartment Complex in Columbus, OH Sold!

January 20, 2016

Chicago Real Estate Resources, Inc is pleased to announce the sale of Hartford on the Lake, a 360 unit apartment complex, located in Columbus, OH.  This secluded community features many amenities including two tennis courts, swimming pool,  fitness center and playground.  CRER’s Commercial Broker Jonathan Gil represented both the Seller and Buyer in this transaction.

Contact: Jonathan Gil

Closed! – Value-Add Multifamily Investment

January 18, 2016

16 – unit multifamily property located in the best pocket of the Greater Grand Crossing neighborhood on Chicago’s south side. Unit mix consisting of 8 two bed/one bath and 8 one bed/one bath apts. Individual heat and common hot water. 100% occupied with strong collections.

Tim Keenan represented the seller and Nate Gautsche represented the buyer – both of Chicago Real Estate Resources’ downtown office.

Do you have a multifamily investment property that you are considering selling?  Contact Nate for a free property analysis and opinion of value.

The 5 Real Estate Trends That Will Shape 2016

December 29, 2015

It’s almost the new year. Get ready to break out the Cristal: We had a great 2015—the best year for housing since 2007. And realtor.com projects an even better year in 2016.

How so? Well, with economic growth chugging along, employment will continue to increase, meaning that people will have more money coming in and they’ll be able to buy their first home or upgrade to a new one.

Here’s a closer look at the trends that will have the greatest impact on the housing market in 2016.

1. We’ll return to normal (Anyone remember normal?)

The year ahead will see healthy growth in home sales and prices, but at a slower pace than in 2015. This slowdown is not an indication of a problem—it’s just a return to normalcy. We’ve lived through 15 years of truly abnormal trends, and after working off the devastating effects of the housing bust, we’re finally seeing signs of more normal conditions. Distress sales will no longer be playing an outsized role, new construction is returning to more traditional levels, and prices rise at more normal rates consistent with a more balanced market.

2. Generational shuffle will make 2016 the best year to sell in the near future

Millennials emerged as a dominant force in 2015, representing almost 2 million sales, which is more than one-third of the total. This pattern will continue in 2016 as their large numbers combined with improving personal financial conditions will enable enough buyers between ages 25 and 34 to move the market—again. The majority of those buyers will be first-timers, but that will require other generations to also play larger roles.

Two other generations will also affect the market in 2016: financially recovering Gen Xers and older boomers thinking about or entering retirement. Since most of these people are already homeowners, they’ll play a double role, boosting the market as both sellers and buyers. Gen Xers are in their prime earning years and thus able to relocate to better neighborhoods for their families. Older boomers are approaching (or already in) retirement and seeking to downsize and lock in a lower cost of living. Together, these two generations will provide much of the suburban inventory that millennials desire to start their own families.

Assuming that most of these households will both sell and buy, it is important to recognize that 2016 is shaping up to be the best year in recent memory to sell. Supply remains very tight, so inventory is moving faster. Given the forecast that price appreciation will slow in 2016 to a more normal rate of growth, delaying will not produce substantially higher values, and will also see higher mortgage rates on any new purchase.

3. Builders will focus on more affordable price points

One aspect of housing that has not recovered yet has been single-family construction. Facing higher land costs, limited labor, and worries about depth of demand in the entry-level market, builders have shifted to producing more higher-priced housing units for a reliable pool of customers. That focus caused new-home prices to rise much faster than existing-home prices. Builders were able to be profitable and grow by following this move-up and luxury strategy, but their growth potential was limited by avoiding the entry level. That should begin to change in 2016.

We are already seeing a decline in new-home prices for new contracts signed this fall. In addition, credit access is improving enough to make the first-time buyer segment more attractive to builders. We’re looking for the strong growth in new-home sales and single-family construction as builders offer more affordable product in the year ahead. Consumers of all types should consider new homes, but availability will be highly dependent on location.

4. Higher mortgage rates will affect high-cost markets the most

We told you mortgage rates would go up in 2015, and they did—but they also went back down. We expect similar volatility in 2016, but the move by the Federal Reserve to guide interest rates higher should result in a more reliable upward trend in mortgage rates.

Thirty-year fixed rates will likely end 2016 about 60 basis points higher than they are today. That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase. However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher. Markets with the highest prices will see that higher rates will result in fewer sales; however, across the U.S., the effect will be minimal as the move to higher rates will spur more existing homeowners to sell and buy before rates go even higher.

5. Already unaffordable rents will go up more than home prices

The housing crisis that politicians are ignoring is that the cost of rental housing has become crushing in most of the country. More than 85% of U.S. markets have rents that exceed 30% of the income of renting households. Furthermore, rents are accelerating at a more rapid pace than home prices, which are moderating. We’ve been seeing asking rents on vacant units increase at a double-digit pace in the second half of this year.

Because of this, it is more affordable to buy in more than three-quarters of the U.S. However, for the majority of renting households, buying is not a near-term option due to poor household credit scores, limited savings, and lack of documentable stable income of the kind necessary to qualify for a mortgage today.

This trend does not bode well for the health of the housing market in the future. It will only improve if we see more construction of affordable rental housing as well as more of a pathway for renters to become homeowners.

 

Source: http://www.realtor.com/news/trends/five-key-trends-for-2016/?cid=soc_20151216_56412536&adbid=677224190953451520&adbpl=tw&adbpr=17351940

East Lincoln Park 4-Flats Sold

December 14, 2015

Nate Gautsche represented the seller of two 4-flats in East Lincoln Park that closed in October and November for a combined $2,575,000 or $322k/unit (100% of broker opinion of value and 95% of list price).  Both properties were value-add opportunities with the ability to increase rents after substantial capital improvements to the exterior and interior of the properties.  Both properties were land locked with no parking and were located in historical landmark districts which discouraged most potential owner occupants or single family conversions that are common in the market.

17,000 SQFT Commercial Lease in Pilsen

December 8, 2015

Ashley Dillard, a commercial broker with Chicago Real Estate Resources, recently represented a local tenant leasing 17,011 square feet at 955 W Cermak.  Child Link, the tenant, previously had offices in the neighborhood and was looking to remain in Pilsen but required additional square footage.  Ashley was able to find them a sublease of virtually turn-key space meeting their needs in a building previously occupied by HCSC, a division of Blue Cross and Blue Shield.

CRER handles commercial transactions of all types including landlord and tenant representation and commercial and investment real estate sales.