For many people, the city of Chicago conjures up images of skyscrapers, tourist attractions, and busy streets. However, what many people don’t realize is that the Chicago region is also home to a thriving industrial sector. Companies in industries such as freight, manufacturing, and logistics employ thousands of workers and play a vital role in the city’s economy. In fact, these industries account for billions of dollars in economic activity each year. Given the importance of these industries to the city’s economy, it’s clear that they play a vital role in the city’s overall success.
Chicago is a great place for industrial businesses, but it’s not always easy to find industrial property for lease in the area.
This guide aims to change that. Keep reading to learn three tips to help you in your search.
1. Hire a Commercial Real Estate Broker
You can find industrial property for lease in Chicago by hiring a commercial real estate brokerage. These businesses dedicate their time to leasing and selling industrial real estate.
When it comes to finding the perfect industrial property, it pays to have a professional on your side. An experienced broker will be familiar with the market and aware of any available listings that might suit your needs. In addition, they will be able to offer expert advice on pricing, negotiation, and contracting. As your advisor, a broker will work to ensure that you find the right property at the right price. They will also work to protect your interests throughout the process and help you avoid any potential pitfalls. With their knowledge and experience, a broker can be an invaluable asset when it comes to finding industrial real estate.
In addition to helping you find a new industrial space, a real estate broker will negotiate a lease when you find a property you are interested in. This way, you’ll get the best deal possible.
Brokers can negotiate, but aren’t limited to, the following:
- Rental rates
- Build out allowances
- Rent abatement periods
Industrial property isn’t easy to find without the help of a professional.
2. Search the Internet
If you are just starting out looking for industrial properties, searching the internet is a great place to start. At this stage, you might not need a commercial broker yet.
Searching the internet for industrial properties can help you see what is available in the market and allow you to get a feel for prices.
There are online resources as simple as Craiglist that can provide you with some information. Although sites might not have all the information you need to make a decision, you’ll get enough info to be educated.
Another benefit of looking into online listings is that you’ll be guided toward commercial real estate brokers that focus on the area you are looking for.
3. Drive Around Your Market
When it comes to finding industrial properties for lease, sometimes the old-fashioned method of driving around is still the best way to go. You can get a feel for the neighborhood and see what is available without having to commit to anything. You might be surprised at what you find from a quick drive around the block. There may be industrial properties that are not listed online or in real estate listings. If you see something that interests you, you can always contact the owner directly to inquire about leasing options. By taking this approach, you can save yourself a lot of time and effort in your search for the perfect industrial property.
Pay close attention to buildings with boarded-up windows and no cars in the parking lot. You might find a “for lease” sign in the windows as well. If so, you can call the number associated with the sign for more information.
Driving around the market can be time-consuming, but it might be rewarding! It’s a good way to find hidden gems that you never noticed before because you weren’t looking for industrial buildings at the time.
Keep a list of the properties you find that pique your interest. You might have to do a lot of research on industrial properties you find with this method, but this is when a commercial real estate broker is most helpful.
Finding Industrial Property for Lease
At G3 Real Estate, we come equipped with industrial property listings that might fit your needs. If you are struggling to find an industrial property for lease to start your new business, we are here to help!
G3 Real Estate is a leading leasing company that offers a wide range of options for those looking for the perfect property. We have an experienced team that is dedicated to finding the right fit for each individual client. We take into consideration all of your needs and wants in order to find the best possible option for you. G3 Real Estate also offers flexible leasing options that are designed to work with your specific budget and situation. Contact us today at 1-800-321-8747 to learn more about our services and to find the perfect property for you.
