In the real estate industry knowing what is available and knowing the current buyers is always a plus. Especially living in Chicago, the necessity of knowledge in these areas is particularly crucial. When it comes to the Chicago commercial real estate aspects, just what is there to know? And what are some local spots that would be good to know of? Let’s take a look at the answer to these questions.
To begin, when it comes to the commercial real estate market in Chicago, whether it is for a restaurant, bar, public service, or any company for that matter the age-old saying is certainly true: Location, Location, Location. With that in mind let’s look at some top market areas. Chicago has over 800,000 commercial real estate listings, so let’s look at some that pop out.
On the northeast corner of Belmont and Narragansett, there is a nice corner property excellent for restaurant, hair salon, or bar. In the retail industry, nothing says customers like a corner property. It has great exposure and a great look to appeal to any passersby.
If you’re looking for something more in the line of small convenient store, or trying to get in the gas station field, take a look at some of the subject properties of 7 Eleven. These properties’ leases are corporately guaranteed by 7 Eleven themselves and with the average space being over 2400 sq feet, it would be quite a good investment for any commercial buyer.
But what about the likes of a business owner who enjoys the appeal of being in a building? There are currently 5 spaces available in the popular 65 E Wacker Place building. This building is known for its Classic Art Deco look, and its modern spaces for businesses of all types. It has one of the best locations since it is in the heart of downtown Chicago and centered around restaurants, shops, hotels, and many cultural amenities. For you and your future customers, there is easy access to parking, making it convenient for everyone.
Who can leave out the infamous Metra Market- Restaurant and Retail? This is a 100,000 square foot retail and restaurant destination. The customer base is strong with rail commuters, visitors, tourists, and residents. It is prime time located within walking distance of The New Theater district, and along Randolph Street’s Restaurant Row. With so many space available now, it is a superb location with excellent amenities.
Let’s take a look at one more diamond in the ruff. One of the most grandiose buildings in the Chicago commercial real estate list is certainly The Willis Tower. Believe it or not there are currently 2 offices available, and with stats like the Willis Tower, what commercial real estate buyer can say no? There are currently 10,000 people who work in the Willis building, and on average 20,000 people come in and out. Tenants, tourists, visitors, and residents alike. Who can ask for a better location. Perfect for an office setting, a retail location or any business you could think of.
When it comes to the Chicago commercial real estate industry, it is clear there are many great options to choose from.