Mid-Year 2023: Chicago industrial OutlookBrown Commercial Group
July 2023 –2023 Mid-Year Report
Tips for Navigating the Chicago Industrial Market
The Chicago industrial market is complex — with strong tenant demand and many investors trying to secure space in a competitive market. At Mid-Year 2023, here are tips from Brown Commercial Group on how to navigate the market.
- Stay up-to-date with the latest developments in the commercial real estate market. How strong is demand? Which submarkets are the hottest in terms of activity?
- Be Patient. It can take time to find the right property and secure the best deal. It helps to get started early, know your parameters and be ready to jump in quickly as the market changes. Be prepared by having your price parameters and any financing needs in place before you search.
- Seize opportunities. Find an agent who can keep you up to date on opportunities for growth and investment potential.
- Work with a trusted advisor. To ensure you gain the knowledge and insights to move forward with confidence.
Given economic conditions, there is talk of a price correction in commercial real estate overall, but the industrial sector is expected to outperform other asset classes. Given its ties to e-commerce, logistics and manufacturing, which have all been performing well, the industrial sector is considered a strong asset class.
“I think a price correction will happen in the industrial sector, but it won’t be as large as many people anticipate,” said Partner Trinity Scurto, SIOR. “This won’t be like a 2008 correction. There is so much capital in the market and the industrial sector is holding a large amount of value and is still top of mind for investors.”
Contact Brown Commercial Group for a free market analysis and insider advice on how to find the best deals in today’s market. — 847-758-9200.