Opportunity is knocking — right here in our terrific Lake County commercial real estate region. It’s a very good time to buy for a variety of investor-friendly reasons. And that means it’s also a good time to sell! The gap between Lake County commercial real estate prices and those of adjacent counties is greater now than historical patterns, and I believe that gap is going to close in the next few years. In my opinion, buying now for a ten-year investment with values that could favorably escalate in just two to three years, would be a very, very smart move.
County of Lake encompasses hills, flats, lakesides, elevated lake views, downtown, fringe-town, historic, contemporary, high maintenance established businesses, low-maintenance service businesses, large or small — and zoned lots waiting for your builder! And, more. Finding out what is right for you means taking a hard look at who you are in the light of business.
When you have arrived at the big decision to probably sell your property in the next two to three years, it’s not time to sit back and mark time! After a decision like that, with all the considerations, it is tempting to take a deep breath and decide to consider “the details” when the time gets closer. Wrong! Preparing for a successful, profitable sale is best served by first making sure your preparatory check list covers all the bases, is accurate and is doable in the two or three years you have in mind. Maximizing the return on your original investment requires excellent presentation to the field of relevant buyers.
Taking a strategic approach to moving your property just makes good common sense. Each property is unique and presents its own challenges when you make that decision to sell. In fact, deciding to market the property at a measurable future date gives you the time it takes to do it right. It’s a bitter pill to just put it out there and hope for the best, then learn that there is a viable list of shoulda, coulda…
Correctly determining the on-target selling price for your commercial property is what can make the difference between a quick sale and a long, drawn-out process. Your commercial realtor should know the formulas and how to work the numbers that will determine the appropriate market value of your property.
The field of prospective Buyers for commercial property contains a variety of interested parties. There are some who look to buy for investment purposes only with a quick turnover, and those who want an additional revenue stream. Still others are looking for commercial property for a start-up business or continuation of an existing, thriving enterprise. As the Seller, you have a challenge and a responsibility to consider all the possibilities, look at strategies that will enhance the sale potential, and make some sensible choices.
My take on the commercial Real Estate market in our region is a subject I look forward to sharing and exploring with you, the readers of The Bloom. As my contribution to The Bloom begins, we are in the midst of a difficult and challenging pandemic, caused by COVID19. We all have the common goal of making it through this with the strength and perseverance so typical of our Lake County residents and businesses. Therefore, my first message to my new readership is one of hope, that we all may use this time of limitations to consider and plan for a prosperous and healthy future! I plan to use this space to bring you ideas, perspectives, insights – and the benefit of my years of experience as a Professional Realtor. I intend to focus on information that can assist you in buying, selling, maintaining, and enjoying the commercial real estate wealth that our beautiful County of Lake provides.