NICAR NEWS

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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Attend Lobby Days

Reserve your place for Lobby Days and demonstrate our strength in numbers!   Register today to participate in our most powerful advocacy effort to date, where you will help us show the state’s most prominent leaders that REALTORS® are informed, engaged and stronger in...

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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...

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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...

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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...

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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 -...

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Market Update December 7, 2020

Problematic CRE returning - CMBS cumulative loan default rate for fixed-rate CMBS recently increased to 16.5% nearing the prior peak of 16.8% recorded in 2013. Hotels and retail are almost 30% by themselves. Is this a case of one person's troubles are another person's...

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Market Update November 30, 2020

This week I have seen social media posts from some firms and spoken with clients who own different firms who are interested in expanding their brokerage practices. If anyone is considering a move to a different firm, let me know and I will gladly make confidential...

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