Adaptive Reuse in commercial construction is nothing new. For years, smart Real Estate Developers and property owners have been repurposing everything from old warehouses and industrial properties to shopping malls, hospitals, and historical buildings into creative mixed-use residential and commercial spaces. Two recent examples in Chicago are the Green Exchange and the Regal Mile Movie Studio Complex: […]
For savvy commercial real estate investors and venture funds, terrific opportunities exist today to purchase and reposition underperforming shopping malls. As the economy shifted into a recession, many shopping malls were hit hard. Consumers kept money in their pockets, retailers stopped expanding and owners ceased new retail construction for their facilities. That’s left a large […]
It’s not just foreclosed homes that are looking like a bargain to real estate investors in today’s market, but also distressed commercial assets. Most of these REO commercial properties fall under the multi-family construction sector, but there are also abandoned retail and restaurant spaces, not to mention hotel construction projects that have stalled and are now ripe for the picking.
Whenever I see commercial construction news on high-profile stalled hospitality construction projects, like the Shangri-la Hotel and Waterview Tower in downtown Chicago, I always wonder if the construction site was not only safe and secure before it was shut down, but if it was preserved in a way so that the existing developer or a […]
If you’re looking to buy distressed commercial property, your eyes are probably as big as saucers. According to Real Capital Analytics there are more than 8,600 U.S. commercial properties in current distress. But before you take on the role of receiver, here are five questions you must address with your general commercial construction contractor before […]