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Chicago Industrial Market Grows According To 2018 Report

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The growth trend in industrial real estate that was happening in 2017 in certain Chicago submarkets continues to be strong in 2018. The submarkets like O’Hare and Central DuPage continue to set record low vacancy rates while other submarkets along the I-80 and I-55 corridors remain extremely attractive as well.

Below is an article from rejournals.com that chronicles the industrial real estate climate and the rapid rise in demand for industrial space since 2013 in the Chicago metro area. After reading the article, give us a call at Caton Commercial so we can partner with you to find the industrial space that best meets your needs now and in the future.

Source: rejournals.com | Re-Post Caton Commercial 5/3/2018

Key submarkets in the Chicago industrial market continue to surge ahead. According to a research report, the Chicago metro area as a whole had new leases and lease expansions of 6.9 million square of during the first quarter of 2018. The 4.5 million square feet of total net absorption is the strongest first quarter tally since 2016.

However, some submarkets continue to remain more attractive than others. The I-80 and I-55 Corridors saw net absorptions of 1.79 and 1.22 million square feet, respectively. The next largest submarket by net absorption was I-290 South, with 642,049 square feet. Meanwhile, I-290 North shed 380,007 square feet and McHenry also had negative absorption with -303,007 square feet; there is currently 1.34 million square feet under construction in the former.

What had been three straight quarters of vacancy rate rises following the completion of numerous vacant spec projects has slowed. The rate is close to matching the low of 6.59 percent recorded a year ago during Q1 2017. The usual suspect infill submarkets like O’Hare and Central DuPage continue to set record low vacancy rates while submarkets that have seen significant spec development, including the I-55 Corridor and I-80 Joliet Corridor, are witnessing rising vacancy rates.

Read the full article…

Is Chicago Ready For Co-living?

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Co-living, the latest trend in millennial housing, provides shorter-term leases with comprehensive amenities in a community setting; all with the click of a smartphone. We’re pleased to announce that Germany-based Medici Living Group, a leader in providing co-living options, is now partnering with us at Caton Commercial Real Estate Group in Chicago’s Fulton neighborhood. Caton Commercial hopes to identify other potential locations for Medici’s Quarters co-living concept in the Chicagoland area, as well as central business districts elsewhere in the U.S.

Below is an article from  therealdeal.com  that describes the philosophy behind co-living and the advantages it provides. Please enjoy the article and contact us with any questions, or if you or your business have any other commercial real estate needs where we can be of assistance.

Source: therealdeal.com | Re-Post Caton Commercial 4/19/2018 –

Berlin-based Medici Living Group is bringing its first Quarters co-living location to Chicago next week.

The 175-resident location in Fulton Market is the first in what company CEO Gunther Schmidt said will be a broader push into Chicago, according to the Chicago Tribune.

“We’re seeing massive demand, and we’re really reacting to that demand,” he said. “I think you’re going to see this expand in every city.”

The facility will be on the top five floors of MCZ Development’s 10-story project at 171 North Aberdeen Street, Schmidt said.

Apartments accommodate up to five people, with a kitchen, one or more bathrooms and bedrooms ranging from 77 to 198 square feet. Rents start at $1,200 per month and will average $1,600 per month including utilities, wireless internet, and Netflix movies.

Medici is working with Naperville-based Caton Commercial Real Estate Group to identify other potential locations in Chicago, the Tribune reported.

Read the full article…

Caton Commercial Partners with Medici Group for Chicago Co-living Concept

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Caton Commercial Real Estate Group is pleased to announce that brokers Steve Caton, CCIM, Bill Caton, and Andy Velkme are collaborating with German-based co-living company, Medici Living Group  in their Chicago expansion. Medici’s co-living concept Quarters, and its technology platform, allow members to rent furnished spaces including all utilities, through their smartphones, and instantly become plugged into an active community. Further, Quarters gives members the flexibility to move globally from one city to another.

In a recent Chicago Tribune article, Caton Commercial Real Estate Group receives mention, and co-living is further explained.

To read the full article, click here.

Invest Aurora: A look inside Downtown Aurora Arts Center Project

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Caton Commercial  brokers  Christina Caton Kitchel  and  Dana Nowaczyk were at the  Paramount Theatre  in downtown Aurora to preview the Aurora Arts Center.  Invest Aurora  and The Community Builders wished to thank the many people and organizations involved in the project, and to show what’s been accomplished to date. Kirk Albinson, president of The Community Builders said, “It’s a way to say thank you to the community and the stakeholders involved.”

Caton Commercial Real Estate Group  is working to secure the perfect restaurant group to fill the 4,000 SF space in the new development.

To read the full article, click here.

Coming Soon: NWC Weber & Renwick | DogHaus

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Caton Commercial  recently sold the lot at the northwest corner of Weber & Renwick roads in Crest Hill. Caton is pleased to announce that DogHaus, a California-based restaurant, will open in fall of 2018. Steve Caton, Andy Velkme, and Joe Herron of Caton Commercial were involved in the transaction.

DogHaus first opened their doors in California serving gourmet hot dogs, sausages, burgers, and fried chicken sandwiches. DogHaus is renowned for their use of King’s Hawaiian bread on their burgers and dogs. The California based burger joint opened three DogHaus locations here in Illinois; one in Rockford, one in Decatur, and the recently opened location in Lincoln Park. DogHaus plans to open their Romeoville location in fall of 2018.

Office Investors Now Looking To The Suburbs

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Traditionally, the Central Business District (CBD) has been the place where businesses want to locate their offices. However, as suburbs are expanding their industrial and commercial real estate options, some business are finding the benefits of being just outside the CBD and are beginning to migrate there, finding flexibility in the suburbs that are not available to them within the CBD.

Below is an article from globest.com that provides statistics and predictions of the future and benefits of businesses moving to the suburbs. After reading the article, contact Caton Commercial so that we can help you find the best location for your offices, whether you want CBD or suburbs.

Source: globest.com | Re-Post Caton Commercial 3/28/2018 –

CHICAGO – The US office investment market did cool a bit in 2017, but that was only after a few years of record-setting investment in several metro areas. And a solid fourth quarter slowed down the rate of decline. Furthermore, US real estate remains near the top of many investors’ wish lists, and with 2018 shaping up to be a robust year for the office market, the next year should see a good number of trades. But in a search for higher yields, many investors have started looking past the top CBDs and set their sights on suburban properties.

US office sales volume in the fourth quarter was $36.2 billion, according to a recent report, up from $28.7 billion in the third quarter. However, a slight uptick in volume in the fourth quarter is not unusual as buyers and sellers seek to close transactions before the year-end. And total US office sales volume for 2017 was $131.9 billion, down by 8% over the year.

The report partly attributes the slight slowdown to a sharp decline in cross-border sales, particularly from China. Foreign investors typically stick with the safest investments, usually the best properties in the nation’s core CBDs. Perhaps it’s not surprising that in 2017 attention shifted away from the six major metros (Boston, Chicago, Los Angeles, Manhattan, San Francisco and Washington, DC) whose combined sales volume of $68.7 billion in 2017 was 15% below the 2016 total. Investment activity in secondary markets showed no change at $53.8 billion.

Read the full article…

Caton Commercial attends MIPIM

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Bill Caton,CIPS, Managing Partner, and Andy Velkme, CIPS and Senior Broker, of Caton Commercial Real Estate Group, just returned from the 2018 MIPIM Conference, held in Cannes, France. MIPIM is the world’s leading property exhibition forum and includes networking events and conference sessions. Bill and Andy were among more than 24,000 participants from 100 countries who attended. The event aims to promote international investment and to facilitate business between investors, corporate end-users, local authorities, hospitality/industrial/logistics professionals as well as other real estate professionals. Bill and Andy were proud to represent not only Caton Commercial, but also the Chicagoland area and the Midwest via the state of Illinois, in an effort to partner with International Investors and Developers.

Established in 1990,   MIPIM gathers the most influential international property players from the office, residential, retail, healthcare, sport, logistics, and industrial sectors for four days of networking, learning, and transaction. This year over 3,100 exhibiting companies from 100 countries attended. Bill Caton and Andy Velkme were among the 24,200 participants. Bill has been attending this conference for three years making connections, this was Andy’s first year. MIPIM is a great way to bring transactions from across the world back into Illinois. With so many countries under one roof, it was a great opportunity for Caton Commercial to sell Chicago.

What Impact Could Trump’s Tariff Announcement Have On CRE?

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Predictions are being made on what the downstream effects could be to the Commercial Real Estate market with the recent announcement concerning tariffs on imported raw materials. There is speculation that the tariffs could cause an increase in the cost of these raw materials that will ultimately be absorbed by the consumer. And, if the higher cost is passed on to the consumer, that could have an overall economic impact.

Below is an article from rejournals.com that details some of the possible effects to the commercial real estate industry from the recently announced desire for tariffs specifically on steel and aluminum. After reading the article, give us a call at Caton Commercial so we can partner with you to determine how these tariffs could impact you and how we can work together to best meet your commercial real estate needs.

Source: rejournals.com | Re-Post Caton Commercial 3/14/2018

President Donald Trump moved to place a tariff on imported raw metals last Thursday and these new duties are already seeing economic reverberations, increasing volatility in the equity markets. But could they have ramifications on commercial real estate?

Trump’s announcement of 25 percent steel and 10 percent aluminum tariffs was intended to preserve steel production jobs in the U.S. and reduce the nation’s trade deficit. While it caught some off guard, it probably shouldn’t have.

“The announcement may have been a bit surprising and I think it shocked the market a little bit. But the position is not,” said Jason Tolliver, vice president Americas and head of logistics and industrial research at Cushman & Wakefield. “The president was very clear during his campaign … that this is the policy and the direction that they’re going.”

Time will tell whether the tariffs will achieve either of the president’s policy goals. Any impacts on commercial real estate may also take time to observe. But the implications could be significant, as 42 percent of U.S. steel is consumed by the construction industry and the price of steel mill products has increased 19.3 percent since March 2016, according to Cushman & Wakefield research.

Read the full article…

Andy Velkme – NICAR REALTOR ® of the Year

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Caton Commercial‘s Andy Velkme, has been chosen as the REALTOR ® of the Year for the Northern Illinois Commercial Association of REALTORS ® (NICAR). Velkme, holds the position of NICAR secretary and chair of the association’s Commercial Global Business Network Committee. On the state level, he joined the Consulate General Liaison Program in 2016 as liaison to Latvia. In 2017, he was a member of the Illinois REALTORS ® Leadership Development Class. Velkme, has already made a splash in 2018 by becoming a member of the Global Business Council and the Nominating Committee. This year he will represent Caton Commercial and the Midwestern United States to international investors at the MIPIM  international real estate conference in Cannes, France.

To read the full article in the Illinois Realtor ®’s website, click here.

LEASED: 954 E New York Street, Aurora

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Caton Commercial‘s James Stratis has leased 954 E New York St in Aurora. Stratis represented both landlord and tenant, bringing in Boost Mobile to the popular strip center off of the busy intersection of New York Street and Ohio Street, only 1.5 miles from Downtown Aurora. Boost Mobile is joining tenants T-Mobile, Payday Loans, and Acceptance Auto Insurance, making the center fully leased. Congratulations to James Stratis and Landlord on this Boost Mobile Lease!

The Future Of Chicago’s Office Market Not Yet Clear

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While the Chicago West Loop continues the momentum that started in 2017 as a prominent place for commercial real estate, River North has the lowest vacancy rate in the downtown submarkets. This is positive news for real estate owners. This low vacancy rate, however, can drive the cost of leasing upwards.

Below is an article from globest.com that details the trends for leasing commercial real estate in downtown Chicago, especially as tenants move west or north, the central loop has become more affordable and desirable. After reading the article, give us a call at Caton Commercial so we can assist you in finding the commercial real estate that fits both your needs and your budget.

Source: globest.com | Re-Post Caton Commercial 2/22/2018

The Chicago office market posted a solid performance in the fourth quarter with an uptick in absorption and falling vacancy while rents held firm, according to a new report. Net absorption totaled 488,960 square feet, and River North, at 7.1%, has by far the lowest vacancy rate of the four downtown submarkets. Overall market vacancy stands at 11.6%.

Like most of the nation’s top markets, tech remains an important driver of demand in Chicago. In fact, it has helped ease the pain of many landlords that lost tenants to the West Loop’s new trophy towers.

“The Central Loop has done surprisingly well landing younger tech companies looking to pay a bit less than they would for space in River North,” a research analyst tells GlobeSt.com.

The opportunities to take over space in the Central Loop has come about largely because so many of its major tenants moved to West Loop properties near the river. 444 W. Lake, for example, which opened in the fourth quarter of 2016, landed law firms McDermott, Will & Emery and DLA Piper as anchor tenants. Central Loop landlords may have needed aggressive deals to fill their spaces but “tech has been the one driver of growth in the Central Loop.”

Read the full story…

Chicago’s Industrial Sector Remains An Investor Favorite Despite Vacancies

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After a record-breaking year of investment in Chicago’s office market in 2016, there was a 42% drop in 2017. However, industrial investment dollar volume rose 35% through the first three quarters of 2017. New construction has played a major role in the vacancy rate, which has mostly been in the I-55 and I-80 corridors.

Below is an article from rejournals.com that describes the climate of  industrial real estate in the Chicagoland area over the last 2 years and what is anticipated for 2018. After reading the article, give us a call at Caton Commercial so we can meet with you to develop the commercial real estate strategy that is right for your business.

Source: rejournals.com | Re-Post Caton Commercial 2/8/2018

Compared with recent years, Chicago’s commercial real estate market registered decreased leasing activity throughout 2017. This trend was evident in the industrial sector, where much spec space remains unleased.

Notwithstanding an increase in new construction, Chicago’s industrial market recorded a 40-basis-point, year-over-year uptick in vacancy, reaching 6.5% in third-quarter 2017. During the first three quarters, 18.3 million square feet was delivered with an additional 12 million square feet under construction.

Most of this construction activity occurred in the I-55 and I-80 corridors, “negatively impacting submarket fundamentals,” per Avison Young’s 2017 Review and 2018 Forecast. A dearth of available, buildable properties in high-demand submarkets is driving developers to seek out in-fill opportunities.

Major industrial activity includes Brennan Investment Group’s plan to develop an 85-acre, tech/industrial business park within the O’Hare submarket. Elsewhere in the region, Bridge Development Partners announced the acquisition of a 54-acre site in Downers Grove, with plans to build three industrial distribution buildings totaling 680,420 square feet.

Major industry drivers continue to be e-commerce and food-related users. This trend is likely to increase due to Chicago’s centralized location and existing infrastructure.

Read the full article…

Crest Hill Welcomes Workout Anytime

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Caton Commercial‘s Joe Herron has leased space in Crestlake Commons Retail Center. Workout Anytime Crest Hill is now occupying 16129 S Weber Road in Crest Hill. At this established neighborhood center, Workout Anytime joins Subway, Victoria Dental, DNA Athletics, Athletico Physical Therapy, El Athentico Burrito, Elsie’s Place, and Millenium Vapor Bar. Workout Anytime Crest Hill franchisees Aaron Brieschke and Mike Muffareh have completed renovations and are now open for business, so now is a great time to get going on your New Year’s Resolution to join a gym!

Owner Aaron Brieschke and Alexsis Pappas will be operating the gym on a daily basis and would be happy to help you select the right membership level to meet your personal fitness goals.

Congratulations to all!

Why Chicago Made The Final Cut For Amazon HQ2

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After receiving 238 proposals, Amazon has narrowed its search for HQ2 locations to a list of 20. This is exciting news as Chicago has made the list. Since most of the locations are in the east half of the United States and with 3 distribution centers in the Chicagoland area, there is optimism that they will be the location of choice.

Below is an article from bisnow.com that details why Chicago would be a great option for Amazon and some of the locations locally that were part of the proposal. After reading the article, give us a call at Caton Commercial so we can assist you in locating commercial real estate that best meets your needs.

Source: bisnow.com | Re-Post Caton Commercial 1/25/2017 –

Amazon sent commercial real estate into a frenzy Thursday when the e-commerce giant announced the 20 finalists for its second North American headquarters.

Chicago made the cut in a list heavy on East Coast cities and the reasons why are as clear as the skies on this sunny day in the Windy City. The proposal put together by Mayor Rahm Emanuel and Gov. Bruce Rauner included 10 sites, many of them with large tracts of contiguous land for Amazon to develop.

Those include Sterling Bay’s 70-acre Lincoln Yards, Related Midwest’s 62-acre South Loop site, “the 78,” which will already be home to a tech incubator run by the University of Illinois system, Farpoint Development’s redevelopment of the Michael Reese Hospital Site, and even dark horse sites like the Illinois Medical District, McDonald’s soon-to-be-vacant Oak Brook Campus and the Motorola Solutions campus in Schaumburg.

Read the full article…

NEW LISTING – 24 Fully Improved Lots on Weber & Caton Farm Rds.

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Caton Commercial has acquired a new listing of 24 Fully Improved lots in Crest Hill, IL on the northeast corner of Weber Road and Caton Farm Road. The various lots for sale are surrounding and anchored by Menards Crest Hill branch, White Oak Library, and Firestone Tire and Rubber Company. The sale listing is represented by Steve Caton and Brian Blackmore. Overall, the lots are 49.15 salable acres of bank owned vacant land and the TIF district formed in December 2017. The lots are priced aggressively and all offers will be presented.

For more information, please contact Steve Caton and Brian Blackmore.

Click here to see the website listing.

Grand Opening of Brick & Minifigs in Crest Hill

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Grand Opening of Brick & Minifigs in Crest Hill caton commercial real estate

Pictured from left to right: City of Crest Hill Ward 3 Alderman Marco Coladipietro, City of Crest Hill Ward 4 Alderman Nate Albert, Brick & Minifigs of Joliet owner Ryan Linsner, City of Crest Hill Mayor Ray Soliman, Caton Commercial Real Estate Senior Broker Andy Velkme, CIPS, Brick & Minifigs of Joliet Sarah Linsner, and City of Crest Hill Ward 2 Alderman Claudia Gazal.

Caton Commercial’s Andy Velkme  attended the grand opening of Brick & Minifigs newest store on Saturday, January 6th, along with Crest Hill Mayor Soliman, and Aldermen Coladipietro, Albert and Gazal.

Velkme represented both the Landlord and Bricks & Minifigs in leasing the space in Renwick Plaza located on  20649 Renwick Rd. in Crest Hill, Illinois. Bricks & Minifigs has 30+ locations nationwide, but this is the first store in the state of Illinois. Brick & Minifigs is a buy, sell, and trade store for different assortments of Legos. Previously, their closest store to the Chicago area was in Madison, Wisconsin.

Velkme said he was elated to see how many people were lined up to attend the Grand Opening on that bitterly cold Saturday morning. Once inside, the grand opening attendees enjoyed displays of pre-built Lego representations of Star Wars favorites such as the Millennium Falcon and others. So if you need a gift for a Lego enthusiast, or you have unused Legos around your home, come to Bricks & Minifigs in Crest Hill!

Congratulations to broker Andy Velkme and the owners of Crest Hill’s new Bricks & Minifigs location!

Brick & Minifigs in Crest Hill caton commercial real estate

Lego Star Wars Millenium Falcon

renwick plaza caton commercial real estate group

Bricks & Minifigs’ logo showing on the Renwick Plaza monument in Crest Hill, IL

grand opening of Brick & Minifigs in Crest Hill caton commercial real estate group

Grand Opening of Bricks & Minifigs

How Real Estate Trends Will Impact The United States In 2018

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In 2018, Commercial Real Estate (CRE) stands to be impacted by several emerging trends. Some of these factors include increased regulatory costs, others relate to technological advances and space-sharing in commercial business and co-living models. Additionally, disruptions to traditional CRE management styles will arise from collaboration and information sharing, coupled with new modes of transportation, especially in urban areas.

Take a moment to read the article below from thebrokerlist.com detailing predicted trends for the coming year and how they will impact business practices of Commercial Real Estate Brokers. Then, give us a call at Caton Commercial so that we can partner with you to take advantage of the positive changes and navigate any challenges brought about by changes in the industry.

Source: thebrokerlist.com | Re-Post Caton Commercial 1/11/2018

Rapid technological advancements and significant demographic shifts significantly influence the real estate industry. These various factors like growing urbanization, longevity of Baby Boomers and differentiated lifestyle patterns of Millennials are changing the way people value real estate. Add into the mix macroeconomic and regulatory developments, and you have the perfect storm for some significant changes to come to the real estate market in 2018.

With the many changes that have already taken place in 2017, many real estate companies find themselves searching for ways in which they can gain a competitive advantage and drive top- and bottom-line growth in the New Year.

To achieve this, we must identify and monitor emerging trends that are likely to impact the economy moving into 2018. Take a look at the top trends that are shaping the U.S. real estate industry right now!

ECONOMIC OUTLOOK: Increasing Interest Rates Could Temper Growth

Federal Reserve is likely to raise interest rates in the short-to-medium term. Volatile global markets have led to continued low-interest rates, but that’s expected to come to an end in 2018. Higher interest rates are likely to increase mortgage costs and could deter real estate investments to some extent.

Gross domestic product growth will likely increase 2.5 percent in 2018. It’s the same as in 2017, but better than the 2.1% growth in 2016. The modest economic improvement could temper the pace of commercial real estate (CRE) transaction activity.

Read the full article…

SOLD – 1296 W. Boughton Rd., Bolingbrook

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SOLD – 1296 W. Boughton Rd., Bolingbrook

January 8, 2018

Caton Commercial has brokered the sale of 1296 W. Boughton Road in Bolingbrook. Under contract after only 38 days on market, the property closed in November, 2017 with a final sales price of $1,000,000; over the listing price. The seller was Swart Nec Association and was represented by Caton Commercial’s Steve Caton, CCIM and John Andrade. The buyer was Kaplan Papadakis Gournis and was represented by Mid-America’s Sean Bossy. This former Applebee’s restaurant will soon become a new location for ATI Physical Therapy.

Congratulations to the brokers!

Sold-2551 N. Bridge Street | Yorkville, IL 60560

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Caton Commercial has brokered the sale of 2551 N. Bridge Street | Yorkville, IL 60560. The property closed on December 18, 2017, with a final sales price of $765,000. The seller was Triumph Community Bank and was represented by Caton Commercial’s Brian Blackmore and Steve Caton, CCIM The buyer was Blake Mellecker and was represented by Inland Real Estate Brokerage’s Heather Devermann. This former Bank will soon become offices for Midwest Environmental Consulting Services.

Strip Malls Are Among The Retail Sector’s Strongest Performers

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In 2018, Commercial Real Estate (CRE) stands to be impacted by several emerging trends. Some of these factors include increased regulatory costs, others relate to technological advances and space-sharing in commercial business and co-living models. Additionally, disruptions to traditional CRE management styles will arise from collaboration and information sharing, coupled with new modes of transportation, especially in urban areas.

Take a moment to read the article below from thebrokerlist.com detailing predicted trends for the coming year and how they will impact business practices of Commercial Real Estate Brokers. Then, give us a call at Caton Commercial so that we can partner with you to take advantage of the positive changes and navigate any challenges brought about by changes in the industry.

Source bisnow.com | Re-Post Caton Commercial 12/14/2017 –

The performance of inline strip centers is holding up exceptionally well  and is second to high street opportunities in performance.

The tenant mix in strip centers is a healthy mix of internet-resistant retailers and service-oriented tenants. Owners and managers of strip malls anchored by grocery stores are complementing their tenant mix with discount retailers, quick-service restaurant concepts, family entertainment options and smartphone shops. Strip malls are also benefiting from the decentralizing of medical campuses. As more hospital groups re-enter the neighborhoods where their patients live, outpatient clinics and specialized medical services such as physical therapy centers and MRI facilities have found homes in strip malls – a concept that Williams dubbed “medtail.”

CBRE Executive Vice President Richard Frolik adds that strip malls are increasingly popular with financial services firms, insurance companies, and fitness retailers. With little new strip mall construction in progress, immediate demand from tenants has revitalized strip malls, especially those that were built 20 to 50 years ago.

“The populations around these centers have grown over that time, as well,” Frolik said.

Read the full article…

German Co-Living Brand Readies Major U.S. Expansion

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Caton Commercial Real Estate Group is proud to represent the Co-Living Company, Medici Living Group, in their Chicago and Midwest expansion. Medici operates 70 locations across Europe and due to the positive response, Medici is beginning to expand in other major cities in the United States. The first location was in New York City and filled up within 30 days after opening in April.

Below is an article from bisnow.com that describes the Quarters brand provided by Medici Living and their plans for future expansion. After reading the article, give us a call to discuss the commercial real estate needs at your company and create a strategy to meet those needs.

Source: bisnow.com | Re-Post Caton Commercial 11/30/2017 –

After opening its first U.S. co-living location in Manhattan earlier this year, Medici Living Group is gearing up for a major expansion in 2018 as the niche housing type grows in prominence.

Medici plans to open one of the country’s largest co-living spaces in one of the country’s biggest cities in 2018. It is just one of many Quarters locations coming to market in the coming years. The Quarters brand is fashioned for the U.S. compared to the sparser Medici Living flat-sharing locations it has operated for years in its native Germany and across Europe.

Medici co-founder and Managing Director Evan Kasper said Quarters’ first location, on Grand Street in Manhattan’s Lower East Side, filled up within 30 days after opening in April, and the experience running that facility has primed it for major growth next year: in addition to a 180-bed development being built ground-up in an undisclosed U.S. location, Medici plans to open a handful of new Quarters in New York City in 2018. “Quarters is supposed to be a globally connected product where if you live in one building, you are connected to the community all across the world,” Kasper said. “To do that, you need a critical mass. The vision, that model, works at scale, and it’s something that needs to be created almost all at once to really work well.”

Read the full article…

How E-Commerce Will Drive Industrial Change

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As e-commerce continues to grow, so do the demands for the best supply chain management facilities. These facilities are different than that traditional industrial distribution centers. These facilities need to accommodate sending packages to individual homes, not just sending large truckloads to retail stores. They also require more employee parking and fewer docks for trucks.

Below is an article from globest.com that describes the current situation the e-commerce industry is facing and some of the solutions they have developed. After reading the article give us a call at Caton Commercial so we can work with you to find the best commercial real estate to meet your needs.

Source: globest.com | Re-Post Caton Commercial 11/9/2017 –

The expansion of e-commerce has transformed the US industrial market in ways large and small and fueled a remarkable expansion that has already outlasted any other in the post-WW II-era. Many investors and developers have begun to wonder just how much longer this stupendous growth can continue. But most seem to agree that the nation’s supply chain still needs a lot of work to make it compatible with the needs of e-commerce, and that means there is every likelihood that this expansion will continue for a relatively long stretch, even if a few cracks have begun to appear.

“Vacancy has ticked up around two one-hundredths of a percent,” Jack Rosenberg, Colliers International’s national director, logistics, and transportation, tells GlobeSt.com. “So that raises a few questions.” And even though positive absorption throughout Southern CA is “off the charts,” leasing is a little slow in industrial powerhouses like Dallas and Atlanta, at least compared to the historic numbers put up in recent years. Furthermore, in the Chicago region, there are currently four one million square foot buildings available.

Read the full article…

SOLD – 33.9 AC SEC of Briggs & Bruce Rds.

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Caton Commercial’s Bill Caton and Brian Blackmore have sold 33.9 AC at the SEC of Briggs & Bruce Roads in Lockport. The seller was Shiloh Baptist Church and First Midwest Bank as trustee. The purchaser was Senad Halilovic. The planned use of the property is a soccer/sports facility with multiple fields and parking. The purchase price was $460,000.

Congratulations to the brokers!

SOLD – 100 Brook Court, Bolingbrook

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Caton Commercial‘s Andy Velkme has closed both sides of the transaction for 100 Brook Ct. in Bolingbrook. The seller of this previous mechanic shop was William Palmer and buyer was Deep Sound of West Chicago, dba Velasquez Mufflers. It was purchased for $310,000. The new owner plans to operate an auto repair and muffle business at this location.

10 Sites Chicago Pitched To Amazon For HQ2

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In July 2017 Amazon opened a third distribution center in the Chicagoland area. Now Chicago is looking to become the location of Amazon’s Second Headquarters (HQ2). The city officials believe the HQ2 in Chicago would provide the support needed for Amazon to continue future growth.

Below is an article from rejournals.com that outlines the details of the 10 locations that were proposed to Amazon along with benefits to these locations. After you read the article, contact us at Caton Commercial so we can develop a plan to meet your Commercial Real Estate needs.

Source: rejournals.com | Re-Post Caton Commercial 10/16/2017 –

The city of Chicago revealed on Friday which sites they included in the proposal to Amazon for the company’s second headquarters, according to a statement from the mayor’s office. The list of sites includes dense downtown locations and campus-like suburban environments.

“The sites identified in Chicago’s bid for HQ2 demonstrate the region’s unparalleled potential to support Amazon’s future growth,” Mayor Emanuel said in a statement. “The combination of these prime locations with the country’s most educated population, diversified economy and connected transportation system make it clear that Chicago is the ideal city for Amazon’s second headquarters as the company continues to expand.”

1. The Downtown Gateway District: The city offers up a collection of move-in ready buildings including space in the Willis Tower, Old Main Post Office and a new development at Union Station.

Read the full article…

How Last-Mile Logistics Are Impacted By The Move Toward Urban Fulfillment Centers

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As the growth of online retail continues, customers desire shorter delivery times and companies are searching for ways to meet those desires. In an effort to have an edge over their competitors, companies are using strategically located distribution centers and technology for the solution.

Check out the article below from Bisnow.com that describes how the multistory warehouses located in dense urban areas are being repurposed where it makes more sense to build up than out. Additionally, warehouse automation has moved from traditional conveyor belts to sophisticated robots and vehicles for quicker fulfillment. After reading the article, give us a call at Caton Commercial to discuss your commercial real estate needs.

Source: bisnow.com | Re-Post Caton Commercial 10/12/2017 –

Online delivery has become the norm for many Americans living in urban areas. An average city resident generates approximately 0.1 deliveries per day. In a major city like Chicago, which has a population of 2.7 million, that is a minimum of 270,000 deliveries a day.

Online retailers have turned to urban infill to get closer to their customer base and are looking to former retail, office and even parking structures as potential launching points for distributing goods.

JLL Managing Director Keith Stauber has witnessed the growing number of retailer third-party logistics companies and developers experimenting with adaptive reuse. JLL is working with Millennium Parking Garages LLC, the owner of Downtown Chicago’s Millennium Parking Garage, to repurpose some of the space into an urban fulfillment center, as well as other alternative uses like self-storage. Stretching across 3.8M SF over two floors, Millennium Parking Garage is one of the largest underground parking systems in the world.

As car ownership dwindles, more parking structures have underperforming space.

“Despite its fantastic location, it is actually somewhat under capacity from a parking perspective,” Stauber said. “Because of that, we have to consider how we can maximize revenues for the garage and City of Chicago while also utilizing it to its full potential.”

Read the full article here…

How The Roommate Experience Has Changed Because Of Co-Living

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Although the concept of coliving has been around for a long time, there have been many varieties over the years. The latest version of coliving today includes high-quality amenities with an all-inclusive price and the ability to be mobile without incurring penalties.

Below is an article from globalrealestateexperts.com that gives details into a housing concept called “Common”. Their housing options are specifically designed for people that live with roommates. After reading the article, give us a call at Caton so we can help you with your Commercial Real Estate needs.

Source: globalrealestateexperts.com | Re-Post Caton Cpmmercial 9/27/2017 –

We are witnessing a fundamental shift in the way people are choosing to live. With stagnated wage growth and the millennial generation being the first to earn less than their parents’ generation, young adults are delaying marriage and having children and forgoing homeownership. For the first time, the percentage of 18-35 year olds living with their parents has surpassed those owning their own home.

The result is that more people are living with roommates for longer and later into their lives. These socio-economic trends have produced a unique opportunity in the multifamily market to deliver a new and better shared housing product. Common’s unique approach to coliving is directly addressing this underserved market through convenience and design. I’m thrilled to participate in this year’s MIPIM PropTech Summit in October to talk about it.

History of Coliving

Of course, living with roommates isn’t a new concept. Communal living has existed for centuries but has been on the rise in urban areas around the US in recent years. In the late 19th and early 20th centuries, residential hotels were a critical part of the urban housing supply. Middle-class Americans and families lived in hotels with spacious private units and shared dining facilities. In many ways, the coliving trend is the renaissance of the residential hotel. People choose coliving out of economic necessity as well as the togetherness and community that living with people can provide.

Read the full article…

John Andrade Joins Caton Commercial Real Estate Group

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John Andrade joined Commercial Real estate Group as a Commercial Broker.

Andrade will be a great asset for the Caton team with his previous experience focused on the financial services industry, bank retail management, and project management. Andrade has owned a  wireless communications business and an online automotive retail website. He is familiar with the lending industry and individual needs of small business owners making him a good fit for the CRE sector. John looks forward to utilizing his unique skill set in working with Caton clients both now and in the future.

Following is the link to John’s Bio here.

The Importance Of CRE Connectivity

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Connectivity in an office building is no longer a luxury, it is as important as having electricity and water. Over the last 5 years, businesses have seen an increase in needing and requiring the highest possible speed on a wireless network for their employees and customers.

Below is an article from naiop.org that where Boingo’s Senior Vice President of Business Development, Doug Lodder shares a few insights on building connectivity. After reading the article, give us a call at Caton Commercial to discuss connectivity and your commercial real estate needs.

Source: blog.naiop.org | Re-Post Caton Commercial 9/14/2017 –

Tenants now expect highly connected buildings – the faster the better – the same way they would expect electricity or any other standard utility. NAIOP asked Boingo’s Senior Vice President of Business Development, Doug Lodder, to share a few insights on building connectivity in advance of his “Building Operations: Hyperconnected Buildings” session at CRE.Converge 2017 in October. In his role at Boingo, Lodder oversees the strategy and development of Wi-Fi and DAS networks for Boingo’s new and existing venue partnerships in commercial real estate and other sectors, and develops innovative partnerships with wireless carriers and wholesale partners.

NAIOP: How have tenant expectations changed over the last five years with regards to building connectivity?
Lodder: Tenants crave connectivity and their appetite for mobile data is skyrocketing. In the last five years, we’ve seen video streaming, Wi-Fi calling, social networks and the app economy create a seismic shift in the way people live and work. Smartphones, tablets, and fitness devices are now front-and-center, which has led to the rise of the “fourth utility” – aka wireless connectivity – and the demand for modern network solutions that can deliver seamless mobile coverage to tenants. We’ve entered a new era in commercial real estate where fast, reliable in-building cellular and Wi-Fi coverage has become imperative. Five years ago the mindset was “location, location, location,” but now, in the words of real estate technology strategist James Carlini, it’s all about “location, location, connectivity.”

Read the full article…