It’s not surprising that commercial real estate sales in Chicago fluctuate depending on the season. If you are looking to buy, sell or rent business property, summer is a great time to do so! Prospective buyers are much more likely to be interested in being out-and-about when the weather is nice, and the sun is shining.
Increased Competition
The opportunities to get involved in commercial real estate sales in Chicago are seemingly endless in the summer. If you want to sell or rent business property, consider waiting until the spring or summer to list it. There will be an increase in competition during this time, so you can likely sell or rent your property for a higher price. Summer is a popular time to move business locations or find some extra space to rent if your company is in-between locations. This buyer influx makes it easy to drive the prices up, so make sure that if you are trying to sell, your property is put together for potential tenants to see.
With that being said, make sure your property stands out from the crowd in more ways than one. Because there is a bigger inventory during the summer, buyers often take their time when it comes to research and finding something that will suit their needs.
Curb Appeal
There’s something to be said about seeing a potential property on a warm, sunny day versus seeing a property during the cold, dreary winter months. Potential buyers will see the property in the best possible light, which will increase interest. Plus, work schedules seem to lessen a bit in the summer, making it easier to prioritize commercial real estate sales in Chicago.
Getting Settled Before the Fall
Just as families want to get settled into their new space before a fresh school year, business owners are of a similar mindset. The end of the summer often marks the beginning of a new, re-focused business plan as well. Because of this, buyers, sellers and renters are more determined to get settled into their space before the next wave of work hits them.
Are you interested in buying, selling or renting commercial property? Contact our professionals at Frontline Real Estate to get started! Regardless of where you are in the process, we’ll dedicate our time and attention to helping you with what comes next.
