Insights
TAG CEO Bill Himmelstein discusses the state of the CRE market and dispels some current myths, particularly around office space.
As vacancy rates continue to rise and rental rates fall, it presents an opportune moment for tenants to take advantage of the current market.
Loop Sublease Space – 227 W Monroe St, Suite 650 7,963 square feet Available Immediately Asking Rate: Negotiable LXP – 02/28/22 Click HERE for virtual tour!
Are you wondering when is good time to get into the market and find space? TAG CEO Bill Himmelstein advises to be patient and wait it out.
Are you wondering if you can get out of your current lease or perhaps pay a lower amount? According to TAG CEO Bill Himmelstein, landlords have been showing a willingness to accommodate tenant needs right now if you can be open, honest and communicate effectively.
New To Market – Loop Sublease Space – 35 W Wacker, Suite 800 11,054 square feet Available April 2021 LXP – 02/28/27 Mostly open floor plan Fully furnished Beautiful river views CLICK HERE FOR VIRTUAL TOUR
Building culture is hard with a remote-based workforce. To have a top business, you need to have a top culture – this is why TAG CEO Bill Himmelstein suggests a phased-in approach for recommitting to your office space.
How much is the market going to go down and how much rental reductions are we going to see? TAG CEO Bill Himmelstein advises keeping an eye on climbing vacancy rates and dropping rental rates, which may result in great opportunities for tenants in this coming market.
When is the right time to sign that next lease and start looking for office space? If you’re ok signing up for a sublease you might have a lot of opportunities coming up. TAG CEO Bill Himmelstein offers his insight here.
A common question these days is “Will landlords give some relief in the form of free rent?” In general, landlords are willing to give some relief in the near term, but there may be some stipulations. TAG CEO Bill Himmelstein offers his insights.
For Sale – Office Building / Medical Facility – 1 S Virginia St/Route 14, Crystal Lake, IL Property Highlights Building Size: 4,500 sq. ft. Lot Size: +/- 26,000 sq. ft. Parking Spaces: 14 on site/4 on adjacent property Zoned: Office Parcel No.: 19-06226028 Taxes (2018): $17,256 Asking Price: $800,000 Built: 2004 Move-in ready – fully equipped...
The coronavirus pandemic is affecting every aspect of our daily life. For many, renegotiating your lease may be something that needs to happen sooner rather than later. Now more than ever a skilled broker can help you negotiate the most favorable terms. Check out our top ten negotiation tips here.
Coworking & Office Space Available – Prime Loop Location – 9 W Washington 16,000 square feet Available for direct lease at $26.25/sf MG Coworking space for 3-40+ people Several options & configurations possible
Coworking & Office Space Available – Prime River North Location – 444 N Wabash 10,000 square feet 5,000 sf direct lease available $25.50/sf MG 2-60 person coworking spaces available Several options & configurations possible
Prime Retail Space Available – 25-27 E Illinois 5,000 Square Feet Area Tenants: HUB 51, RPM Steakhouse, Shaw’s Crabhouse, Hotel Palomar, Star of Siam, Ruth’s Chris Steakhouse, Public House, LYFE Kitchen
Even with the changing landscape surrounding the new coronavirus disease (COVID-19), businesses still need to move. If you are in the middle of a corporate move, there are effective ways to continue your office space search while remaining healthy and safe. Here are some tips for those who are working with commercial real estate brokers...
QSR w/Drive-Thru Opportunity – Immediate Occupancy/New Construction 2,045 Square Feet 737 Square Feet Shared Restrooms 7-Eleven Convenience Store Mobil Gas Station 11601 West Touhy Ave, Building 840
Who you know can be more important than how many people you know. Upgrade your networking efforts by taking the time to meet people you believe can be helpful to you and then do what you can to be helpful to them. Take a listen for more tips on finding the right networking partner.
Place priority on networking with referral sources. While it may seem that networking with potential clients should be at the very top of your to-do list, networking with steady referral sources can bring you a lot more business in the end. Here’s how to make connections and network like a pro when it comes to...
When building your office floor plan, it’s always better to have more room than not enough space. Packing people into an office lowers employee satisfaction and can lead to a counterproductive work environment, which may negate any money you save in rent. By offering your staff more free space and a comfortable office, not only...
It was a pleasure to have our very own Bill and Diana Himmelstein on Graduated Entrepreneur, a podcast all about being a small business owner. To learn more about how Bill and Diana navigate being in business as a married couple to the entrepreneurial skills they’re teaching their children, listen to the full episode below!
Newly built-out spec suite available for sublease 30 N LaSalle, Suite 2630 3,915 SF Asking $34/SF Lease expiration 12/30/23 Available 30 days from sublease execution
Chicago is a city of industry, delicious food, diverse culture and taxes. If you don’t know by now, Chicago is facing another round of tax increases, especially on real estate. This may lead everyone in Chicago to think: How am I going to afford running a business here? Or even, Why should I keep my...
Approximately 1.5 acres located at the corner of East Dundee and Wolf Road. Just minutes away from the new Wheeling Town Center which is currently under construction. The Wheeling Town Center is a $110 million dollar transit-oriented master-planned mixed-use development where it will be the “Center of it All.” This is a great location...
We’ve had our eyes on the Southwest Loop for quite some time. We already mentioned this booming corner of the loop in our Up-And-Coming Chicago Neighborhood Guide, but with the extent of recent activity, we decided this part of the loop deserved its own dedicated post. Here’s what you can expect to see in the...
Every month, Tenant Advisory Group hosts an Executives Luncheon to provide an opportunity for Chicago business leaders to build new, meaningful connections and discuss topics relevant to running a business. During June’s Executives Luncheon, attendees were prompted with one question: “What employee-management issues have you struggled with in the past year and how did you...
When leasing a new office space, it’s easy to look at properties that already exist, but there is an entire market of new or partially built developments that have potential to be amazing office space, if you plan accordingly. In order to navigate leasing in a new development, follow our steps for success.
Description: Here is an opportunity to lease in the base of the new Homewood Suites Hotel in Skokie on the prominent corner of Oakton & Niles. The space is divisible to possibly 2 – ~5,000sf restaurants and a 2,130 retail use. It’s adjacent to a new residential development site with plans to build 92 loft...
Up-and-coming areas can be a scary concept for some business owners. One day you’re paying low rent in a semi-popular part of town, then a few years pass and the area is booming, people and other businesses are flocking over and rent is skyrocketing. However, you don’t have to pay a fortune in rent or...
Voyage Chicago reached out to Bill Himmelstein to dive deep into the history of how Tenant Advisory Group began, and the foundation it was built upon.
Crain’s Chicago Business released its inaugural edition of The Most Influential Commercial Real Estate Brokers in Chicago, and our own Bill Himmelstein has been included in this list!
The South Loop, River West and West Loop each have taken their turn as being Chicago’s “it” neighborhood. Now it’s time to turn our eyes towards the Clybourn Corridor, the thin strip of land on the western edge of Lincoln Park between Clybourn Ave. and the Chicago River. This area already serves as a main...
We are proud to announce our newest partnership with Dan Porcaro of PSM Partners. This exclusive partnership enables us to offer you premium phone and data brokerages services, as well as cloud services. Through this new affiliation, TAG will be able to provide even more services and solutions to help grow your business. Click here...
Site Selection magazine has listed Chicago as the best city for corporate investment for the fourth consecutive year. This comes as little surprise with the long list of large corporations that have been moving their headquarters into downtown Chicago. So, what makes this city such an attractive investment for businesses?
There are never enough hours in the day when you’re a small business owner. Try adding relocating your business to your list, and you’ll really have your head spinning. While important, finding a new office is a daunting task and can soak up drastic amounts of time. Thankfully, there are Chicago Commercial Real Estate professionals...
The South Loop real estate market has been exploding in the last couple years, but what is the next neighborhood to experience a boom? Perhaps the answer isn’t just one, but several. As businesses keep shifting their focus to downtown, neighborhoods surrounding the popular Loop, will boom: River West, River North, Goose Island, New City,...
Glamorous downtown Chicago is bustling with the impressive influx of top corporations moving into downtown. However, apartment buildings are beginning to feel the effects of over-saturation and landlords are having a tough time renting their downtown spaces. With more buildings coming online in 2017, the increase in supply should cause rents to deflate as vacancy...
Chicago’s commercial real estate market favors sellers, presenting high demand and low supply in the downtown area. This means the window to moving into your dream office may be closing faster than you think. If you find that perfect property for your business, be prepared to act fast and close the deal with the property...
Before signing a lease, you want to make sure you are happy with the terms for the entire lease duration. To do this, you must understand the internal pieces of a lease so you can negotiate favorable terms with the landlord.
It’s an exciting time in the Chicago tech scene, with new startups changing the entire face of our commercial real estate market. This infusion of creativity and drive is fantastic for our city, but is it really driving our overall economy forward? Reports say it’s not.
Commercial leasing agreements commonly extend up to 10 years – or longer – making negotiations key to long-term savings for your business. One of the greatest opportunities to reduce your monthly cost is rent abatement, or free rent. As you begin the discussion with a lessor, it is important to understand what rent abatement is...
If you’ve signed a lease for office space or talked with any commercial landlords lately, you’ve probably been asked about having General Liability Insurance.
5 Reasons a Good Commercial Real Estate Broker Adds Tremendous Value Choosing the right office space is one of the most important steps a small business owner can take, which is why it’s crucial to have an expert commercial real estate (CRE) broker with local ties to guide you through the process. Not only will...
What are the top 5 critical traits of any successful agent?
Here are the 7 mistakes to avoid making when you’re a commercial real estate broker.
Here’s this week’s recommended reading: Is CRE Looking at Mobile the Right Way? According to a Twitter poll by QuantumListings, 81% of the agents who responded said they don’t use mobile CRE apps at all. So the thinking is that there’s a big opportunity for developers to create CRE specific mobile apps…. via CREOutsider
Here’s this week’s recommended reading: From Thanks To Action To Impact: Why, Why Not? Guest Post: Gavin Mogan. Uplifting messages light up the blogosphere during Thanksgiving week. I hope my contribution is uplifting, but my purpose is to challenge. Challenge sort of fuels you, the CRE Tech Maverick. Be thankful, +52. Gratitude as a platform....
“Giving starts the receiving process.” – Jim Rohn
Here’s this week’s recommended reading: 8 Challenges of Starting a Real Estate Investment Firm Real estate is an entrepreneurial business where almost everyone aspires to do their own deals. That’s part of what makes it so interesting. There are a lot of really smart professionals out there eager to do their own deals, however starting...
3 Articles to Read This Weekend Five Mega-trends Shaping Commercial Office Development The developments and offices we plan and construct today are being governed by something I like to call New Office-ism. It’s a design approach that eschews monolithic uses in favor of mixed-use, walkable patterns. New Office-ism incorporates aspects of master planning, urban design...
3 Articles to Read This Weekend Fed Survey: Bank Reports stronger Demand For CRE Loans The Federal Reserve reports that banks reported little change in their standards on commercial and industrial (C&I) loans in the third quarter of 2015. However, banks also indicated that they increased premiums charged on riskier loans for larger firms on...
Renting commercial property is a major move. The good news is that you can avoid many common worries in the first place, when you do a line-by-line review of the lease. Sure, reading a commercial lease can be difficult and time-consuming, but the consequences of not reading it can be infinitely more unpleasant.
Most commercial leases typically run between 5- 10 years. In good leases, there are provisions to the rental agreement allowing a tenant to extend the length of the lease. A general rule of thumb: Instead of immediately exercising your renewal option, try to negotiate each renewal term instead. However, if you come to a standstill,...
Signing a commercial lease is one of the biggest steps in a business owner’s journey. The lease agreement is filled with all aspects of rules, regulations and terms to understand during a rental relationship. And, as a business owner, your livelihood is at stake so you want to make sure you’re getting the most value...
Over the last few years of my career, I’ve been asked all types of questions when it comes to leasing office space. For people interested in leasing property, some questions I commonly hear are things like: How far in advance should I be looking for a new space? What are the benefits of starting early?...
In a time where the commercial real estate industry is as fast-paced and as dynamic as ever, having helpful insight and advice about what’s important and what’s working (or not) can help anyone learn as they go. We’ve launched an all-new series with MeetAdvisors.com – “Commercial Real Estate: What I Know Now and Wish I...
You have a shiny new license in hand and are ready to conquer the real estate landscape! The median age in real estate is now 57 years old, which may cause young agents to have a difficult time getting clients or referrals – or being taken seriously by peers. Whether you’re a recent graduate or...
Real estate negotiating can either be an exciting or stressful process. If you are a broker you must have ice in your veins and know the people you are dealing with. Fortunately, if you are a third party, this allows you to be much more objective and take the emotions out of it. Viewing the...
Almost everyone has been in a situation where they needed to either break or amend a property lease. In commercial real estate, there are four main reasons a company may have to sublet their space. The first two reasons are fairly obvious and usually have to do with company size and business trajectory; a company...
As a tenant broker we are the proverbial parent and our clients, the tenants, are our children. We want to ensure that they’re safe, warm, and well protected with a strong roof over their heads and an even stronger lease. Just like a student applying to a college that will check their credentials and qualifications,...
Bill Himmelstein speaks frequently about the importance of negotiation and how to become a successful negotiator. His last seminar honed in on the importance of negotiation when securing your lease. Below are his 10 Tips to a Successful Lease Negotiation.
Effective negotiation is key in all aspects of business. Whether it be getting the raise you deserve, landing a deal, or with a lease getting the most “bang for your buck”, if you will.
A lot of tenants commonly ask, “What is TI and Abatement?” and it’s a good question. Tenants ask because a lot of landlords don’t typically offer it, so it’s unknown what it is. However, it is certainly available in every transaction.
The decision to rent or buy a home is one in which most people approach with significant care. It’s no different when evaluating whether to buy or lease with regards to commercial property.