Committee News

NICAR’s goals are to keep members informed of legislative issues and resources affecting commercial real estate and to work with State Legislators and the Illinois Association of Realtors to closely monitor legislation, which affects commercial real estate.

 

Call to Action

Urgently need warehouse space around Joliet, IL area

PropertyType: Industrial Target County: Will County Target Cities: Joliet Describe Your Need My client is looking for 40,000 to 50,000 square feet of warehouse space and about a 2,000 square foot office. Easy access to major expressways and to the areas rail yards in...

Market Update April 19, 2021

The Heads of Real Estate at companies large and small are all working furiously on their plans on how/where their employees will office as the world opens back up. Many are looking at going to Hybrid or Hub and Spoke approaches maintaining an HQ while offering...

Market Update March 29, 2021

There was a report that I saw last week that at the height of the COVID lockdown, 40% of the companies surveyed said that they would scale down the amount of office space they would lease in the future. Today that number is down to 14%. Food for thought.

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Market Update March 1, 2021

The downtown Chicago market “has been significantly impacted by demand shifts resulting from the coronavirus pandemic,” . “The combination of falling demand and rising supply has pushed vacancy to a record-high 17.7%. That’s led to a near 11% plunge in effective rents...

Market Update February 8, 2021

Multifamily - eviction moratorium extended till March 31st, rental relief for tenants expected. Over the past 2 weeks, I've had the opportunity to listen to 3 different economists, including KC Conway, CCIM's chief economist. The overarching element of his...

Market Update January 18, 2021

Illinois Eviction Moratorium Extended to February 2021 for Renters. Landlords must provide a Declaration form to the resident or tenant at least five days prior to the notice of termination of tenancy. If the tenant can establish that he/she/they meet all four...

Market Update December 21, 2020

I am seeing tenants who are not suffering at all during the pandemic submit LOIs at a discounted rate - and my client (the landlord) is letting them walk. Also, learning how to use MySocial on CRECO.ai to auto-post properties on a rotation on social media pages -...