Chicago Real Estate | Looking for Green Property in a Down Market
Posted by admin | Business | Posted on March 28th, 2008
Real Estate is in an insecure position. If you want to invest, it is important to have the appropriate income, credit and job security. If you have these in place, there are many deals to be had. If a potential investor is not yet ready on this front, now is not a bad time to sit and do research. Watch the market, see how others invest, and then, when the time is right, make the best move you can.
With the economic slowdown and as a result, the need to be more efficient with both resources and costs, tenants are increasingly focused on the operating costs of buildings — whether they are looking to relocate or remain in their current space.
Tenants are also making efforts to operate within their offices more efficiently.
Going green therefore provides them a way that they can save money and the environment.
To that end, executives from the real estate, legal and energy services industries recently joined together for “The Green Symposium; Capturing Efficiencies in the Commercial Office.” The event was hosted by the Chicagoland Chamber of Commerce and panelists from Howard Ecker + Company, DLA Piper, NELSON and BlueStar Energy headed up a focused discussion on green opportunities in the commercial real estate market.
Luxury real estate coupon buzz stirred nationally last week, after Cape Coral resident Rich Ricciani bought an advertisement in a Southwest Florida publication that included a $1 million coupon for his $6.9 million Italian villa. The Wall Street Journal and television news programs in Chicago and California picked up on the program.
“We figured everyone likes to save some money,� said Ricciani. 62, a retired accountant who now buys and sells real estate full-time.
So there you have it, Chicago real estate in in flux. But if you have the means, there is plenty of opportunity.