Monthly Archives: November 2017

Where to snag Class A space at a $20 PSF discount

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Class A

On the heels of Black Friday and Cyber Monday, we’re here with an office space discount you have to see to believe. In the last five years, the gap between top-tier downtown and suburban space has dramatically widened, creating interesting opportunities for occupiers looking for luxury.

Since 2012, Class A rents have increased just 7.4 percent in the suburbs, compared with more than 27 percent downtown. For even the smallest tenants, this represents six-figure savings that could be reallocated to other business priorities, from talent retention to technology upgrades.… Read More

This is what happens when office space imitates art

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Donna Mondi had a vision for her 16-year-old interior design firm—a new office and showroom that would bring her team under one roof and reflect their design sensibilities and expert capabilities. Her unexpected inspiration? The industrial chic office set from The Intern, a 2015 comedy starring Robert De Niro and Anne Hathaway.

Enter JLL. “I know that property,” said Christine Bower, Vice President on JLL’s Tenant Representation team.

Click below for our Project Profile on Donna Mondi Interior Design, creator of spaces that are edgy yet sophisticated, modern yet classic, sexy, dynamic and most of all— unpredictable.

Donna Mondi

It wasn’t in River North, where Donna originally wanted to be, and there was no Starbucks in sight (a necessity for Donna and her team). We encouraged Donna and her husband Dominick Mondi, President of Mesirow Financial, to take a look. They took a tour and fell in love. It wasn’t the center of Fulton Market, but it checked every other box.

Knowing the Mondis’ interest in acquiring an income-producing, value-add property, we quickly facilitated the sale for $1.8 million (fortuitously closing the day of the Cubs’ 2016 World Series win). Built in the 1890s, the West Town light- industrial building was a former furniture factory. Donna invested $350,000 to convert the first floor into her company’s new home. The second floor will soon become available for the first time in 20 years, allowing for additional income generation. The space is perfect for a creative tenant craving high ceilings, hardwood floors, original skylights and huge windows.

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Retail therapy draws tenants to suburban Class A product

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Shopping on your lunch hour never gets old. Especially in the suburbs, where the live/work/play perks of urban density are in short supply. Suburban malls offer the opportunity to run errands during lunch, while also conveniently supporting a wide array of business amenities such as restaurants and event space for everyday meetings and larger corporate gatherings.

Across suburban Chicago, Class A office properties within a mile of a major mall are outperforming their competition in three out of four major suburban submarkets. While the area around Woodfield Mall appears to be flagging, JLL Research attributes that to Zurich’s relocation and expects occupancy to soon mirror the strength of its peers.

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Stampedes, secret shoppers, same-day shipping, oh my!

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Black Friday

Welcome to Episode 10 of Real Time, JLL Chicago’s industrial podcast. In this episode, the team prepares for Black Friday and Cyber Monday by exploring the intersection of retail, e-commerce and industrial logistics. Get your shopping lists ready and check out the highlights:

  • Consumers still love Black Friday’s in-store excitement, which means…
  • Malls and retailers start preparing months in advance. Think staffing, security and holiday cheer.
  • FedEx and UPS continue to elevate the package delivery game with state-of-the-art facilities and technology.

Hosted by: Industrial market research experts George Cutro and Chad Buch

Featuring: Retail property management pro Sylvia Payette


Listen to this podcast with the player above or click here.

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This office will make you drop everything and move to the suburbs

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The suburban office market is changing in response to two notable trends. While many corporate users have vacated their longtime campuses for the allure of the live/work/play life downtown, others are recommitting to the suburbs and collaborating with creative landlords.

Click below for our Project Profile on Innovation Park, Lake County, where industry meets inspiration.

Innovation Park

When office park innovator BECO Management acquired the former Motorola Mobility campus in Libertyville in 2014, it fused both trends, creating an urban environment within a suburban landscape. After buying at a low basis and kicking off a large-scale redevelopment, the D.C.-based investor recently chose JLL to market Innovation Park, Lake County.

BECO built it, and we’re making sure they come. As dozens of brokers tour the property each month, the most common reaction is “I had no idea.” With services from meals to daycare and fitness to laundry, employees never have to leave. The productivity implications are profound. Nowhere else can your day include an on-site massage, team bonding in the game room and soaking up sun on the bike path. We’re telling a singular story, and two major tenants have already signed on: Valent Biosciences (98,000 s.f.) and Brightstar (65,000 s.f.).

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