REIA Multi-Family State of the Chicago Market

By Carly on May 22, 2018

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  Thursday we attended the Chicago Real Estate Investment Association event where the multi-family state of the Chicago market was discussed. Top takeaways from this discussion include: – 2018 has seen an increasing spread between Class A and B housing. A typical spread approximates 13% but market is witnessing upwards of 18%. 33’s Insight: We view this spread as an opportunity for investors to target workforce housing. Seek out suburban communities with strong blue collar employment base where competition for buildings is lower. – No surprise here that there is a strong supply of units coming on in Q2 2018. Chicago will deliver 2,000 units new luxury units. 33’s Insight: … Continue reading

Top 5 Factors Leading to Chicago’s Luxury Development Growth

By 33Realty Staff on April 11, 2018

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If you’re in the market for viable investment opportunities in the real estate industry, there’s no better place to invest your money than in the city of Chicago. However, just like any other shrewd investor, a look at some of the factors leading to Chicago’s luxury development growth should be your priority before making any decision. These include the following. 1. Increased Employment An increase in employment opportunities has seen more people moving to luxury neighborhoods in Chicago. This has spurred the development of luxury homes and apartments in downtown neighborhoods, considering the fact that more people can now afford to purchase or rent these homes. 2. Strong Value Gains … Continue reading

Takeaways from the Chicago Capital Markets Debt, Equity & 2018 Forecast Panel

By Carly on March 29, 2018

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In case you missed the Chicago Capital Markets Debt, Equity & 2018 Forecast panel put on by Bisnow, here are three takeaways on 2018 trends discussed: 1. In the market, there are a lot of equity sources looking for deals. Some equity sources are taking positions as debt lenders to reduce risk and to find more opportunities to place capital. 2. For Walton Street, capital sources are 50% domestic investors and 50% international with the Mid East and Asia as the main areas providing capital. 3. Industrial / distribution continues to be a strong asset class especially the “last mile” for online deliveries to consumers in metro markets. Hotel and … Continue reading

How to Design Your Office for Maximum Productivity

By Carly on March 8, 2018

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Goodbye dark lighting, hello open, well-lit office spaces. One of the biggest emerging trends in the work place has been the shift towards open office floor plans that provide a collaborative work environment. Check out 3 ways to to design your Office for maximum productivity: Variety of work spaces: Transparency and Privacy: some offices can be ground glass, while others are totally transparent. Many options can be offered depending on the company culture. Having a variety of work spaces, that are suited for different styles and tasks, provides employees options that work best for their maximum productivity level. Collaborative work spaces not only leave room for office growth, it lets … Continue reading

2017 Key Stats and Closings

By Carly on January 31, 2018

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Check out 33’s 2017 Year End Closing Stats and Recap: PORTFOLIO SALE: 4611 & 4520 S. Drexel / Sale Price : $9,200,000 / 112 units 5.5% Cap Rate / $82k door (record setting) Our team stays ahead of the market to assess on-going demand in their geo-targeted areas of expertise, not relying on past values.   CONDO DECONVERSION:  4700 N. Winchester / $6,475,500 / 25 units 33 represented 4700 N. Winchester Condominium Association in the sale to a private investor which will de-convert the building from condos into rental apartments. Property sold for a pro-forma 5.5%     ADD VALUE SALE: 4520 N. Malden $4,300,000 / 34 units Affordable asset remaining … Continue reading

Toys for Tots 2018 #GIVEBACK

By Carly on December 27, 2017

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Each year 33 Realty and Cubed Construction participate as an annual Toys for Tots drop off location where people can drop off  new, unwrapped toys to help brighten a child’s holiday. The mission of the U.S. Marine Corps Reserve Toys for Tots Program is to collect new, unwrapped toys during October, November and December each year, and distribute those toys as Christmas gifts to less fortunate children in the community. We’d like give a huge thank you to everyone who dropped off toys for the Marine Toys for Tots Foundation at our 33 Realty & Cubed Construction drop off location! We filled over 2 boxes and a dozen bags of toys! Thank you all for contributing in … Continue reading

Sean Connelly Speaks to GlobeSt.com on How Condo De-Conversions May Decline In 2018

By Carly on December 22, 2017

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  CHICAGO—During the last residential real estate boom, developers and owners across the Chicago metro area converted thousands of apartments into condo units. The crash exposed the fact that many of these projects were not really suitable as condos. And the recent apartment boom has made it possible to “de-convert” some projects back into rental units. But the pendulum may swing back a bit in 2018, as state legislators seem likely to approve rules that will require a higher percentage of ownership votes in order to complete de-conversion plans. “Condo de-conversion is a strange concept to many,” Sean Connelly, managing director, 33 Realty, tells GlobeSt.com. “But often times it’s a great way to unlock … Continue reading

5 Cool Office Spaces in Chicago You’ll Never Want to Leave

By Carly on December 11, 2017

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Working gets a lot easier when you work in one of the trendiest office spaces in Chicago. From elegant industrial spaces to greenery-rich, sleek offices, work can be a more enjoyable place to spend your time. If you’re on the hunt for a new job, you’ll want a place whose décor will make you eager to go to work on Monday morning. Below are five cool office spaces in Chicago. 1. 33 Realty & Cubed Construction Some offices can be stifling and boring, but not 33 Realty! This office is made up of large open collaborative work spaces with cube-like structures acting as dividers and open spaces for lounging with … Continue reading

3 Takeaways from the Chicago Deal Making Luncheon

By Carly on November 15, 2017

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    In case you missed the ICSC Chicago Deal Making luncheon at Navy Pier that focused on Workforce housing here are three takeaways: Workforce housing* is where a real gap in housing inventory exists and is receiving much greater attention today. It is critical for people to have the option to live near where they work, particularly those who are the most essential to the local economy. Construction costs have skyrocketed. Also, many in the development community are chasing after luxury builds for higher rent levels. These factors could create an opportunity for the suburban market with demanding workforce seeking an affordable living. “The Mayor of Gurnee actually stated she thought there was a workforce … Continue reading

Check Out Some of the Most Attractive Amenities in Multi-Family Developments

By Carly on September 20, 2017

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As a manager of many luxury buildings and amenities, 33 has seen how increased amenities are an important player in the rental marketplace. Our Top Attractive Amenities in Multi-Family Developments FREE WiFi  The appeal of easy online access is not going anywhere, anytime soon. Millennials expect to be online at any time and it is an added bonus when it is free of charge. In a recent Bisnow article, one of the most attractive amenities in multifamily developments is free WiFi. Co-working spaces The co-working internet cafe space trend continues to gain momentum as millennials are increasingly beginning to work from home, and are expected to be available around the clock. … Continue reading

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