Naperville commercial real estate lawyersReal estate prices have risen since the recession, for the most part, but many seasoned investors believe that some of the markets are losing steam. The decreased foot traffic in malls, closure of former top businesses, and 10 percent dip in the hard-hit retail sector certainly suggests as much. Yet, even as these areas experience a decline in value, some CRE sectors are experiencing a major surge. Learn more about these niche markets, and discover how a seasoned real estate attorney can help you successfully break into them to further grow and diversify your portfolio.

A Closer Look at CRE Market Trends

At the end of the recession, the Commercial Property Price Index hit an all-time low of 61.2. Since then, the index has more than doubled, and investors have been able to borrow more easily, thanks to low interest rates. Unfortunately, the broad index started to plateau in 2016, hitting and holding right around 126.9. Experts and analysts say this plateau is due, at least in part, to the rising interest rates, which are making it more expensive for investors to finance their purchase. Investor demand is also decreasing, with investors buying $175 billion in U.S. commercial real estate property in the first five months of 2018 (a 2 percent decline from last year).

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Naperville real estate lawyersThe short-term rental industry has grown exponentially in demand, and savvy real estate investors (along with several others) are looking for a way to profit from it. Part of the reason for this can be traced back to the projected growth of this maturing industry. Still, there are some challenges for investors who are looking to break into this young but growing market. Learn more about these challenges in the following sections, and discover how our seasoned real estate lawyers can help you break into this thriving real estate market.

Challenges in the Short-Term Rental Industry 

Experts say that the short-term rental industry is not only here to stay, it is going to change the way that people look at real estate. Unfortunately, the market is still experiencing some growing pains; lawsuits - mostly from agencies like the National Apartment Association and the National Multifamly Housing Council - are cropping up all over the country. Yet, despite what some people may think, these agencies are not necessarily against short-term rentals. Instead, they simply want a cut of the profits for a property that they rightfully own, but it appears they are not certain of how to get it. So they are taking the matter to court, hoping to gain some traction there.

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Illinois zoning and land use attorneysWhen it comes to zoning and land use laws, developers need to consider more than just the present situation. Unexpected or unplanned changes can occur - sometimes to the detriment of your project. Learn more about how changes in zoning and land use laws may impact your current or prospective land development project, and discover how our seasoned Naperville commercial real estate attorneys can help you mitigate against such issues.

When Zoning and Land Use Laws Change

Municipalities tend to have a long-term vision for the way they want their town or city developed. Typically based on a variety of factors, such as land or wildlife preservation; values, needs, and desires of the community; and earning or tourist potential, this vision is usually outlined far in advance. Of course, things change. Perhaps the population ages or the town experiences a significant and unexpected influx of young people or successful entrepreneurs. Maybe the area starts to flood or suffer from erosion, or an indigenous species become endangered. Regardless of the reason, the city must then attempt to accommodate the change. That may require alterations to their plan, or even to zoning and land use laws.

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Naperville landlord-tenant dispute lawyersLiving under the roof of another person can require a lot of compromises - but what can you do if compromise fails, or if your landlord refuses to hear your side of thing? Tenants often assume that a lawsuit is the answer, but this method is usually both complex and expensive. Thankfully, there are other tools and resources that tenants can use to resolve issues with their landlords. Learn more about them in the following sections, and discover how a seasoned Naperville real estate lawyer can help you resolve your landlord-tenant dispute.

Negotiating a Settlement with Your Landlord 

Many landlord-tenant issues can be resolved through a negotiation - a process in which parties compromise to reach a suitable resolution. You can do this with or without a mediator (an unbiased third-party that can help you and your landlord reach a suitable agreement). To increase your chances of success in the process, try a few of these helpful hints:

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Naperville commercial real estate lawyersPartnerships in the commercial real estate (CRE) industry can either make or break your business. Most savvy investors understand this, but they may not fully understand what factors may lead them to a path of success. Learn more in the following sections, including how the assistance of a seasoned commercial real estate lawyer can help improve your chances of growing a healthy and profitable business now, and in the years to come.

Partnering Out of Financial Convenience

Partnerships that are born out of financial convenience (i.e. because you lack capital or cannot afford to hire someone for the job) are rarely profitable. That is partly because only one person is bringing in the money, but there are other issues that can cause these partnerships to fail as well. For example, if you partner with someone who does not have the business sense to keep up, you may find yourself doing all the hard work with very little payback. You could also find yourself liable for the mistakes they make along the way. Alternatively, if you partner has capital but you have all the ideas, you risk them stealing your ideas and profiting from them on their own. Avoid such matters by ensuring you only partner with someone who can bring more than money to the table, and always ensure you have a contract that clearly outlines the duties and responsibilities of each party.

Not Developing an Exit Strategy for the Business

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Naperville, IL 60563
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Oak Brook, IL 60523
Phone: 630-288-2555
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From our offices in Naperville and Oak Brook, Lindell & Tessitore P.C. represents clients throughout Illinois including the areas of Plainfield, Oswego, Aurora, Lisle, Winfield, Wheaton, St. Charles, Geneva, Oakbrook Terrace, Elmhurst, Hinsdale, Burr Ridge, Batavia, Yorkville, Downers Grove, Warrenville, Woodridge, Lemont, Romeoville, Joliet, Bolingbrook, Mokena, New Lenox, Frankfort, Channahon, DuPage County, Will County, Lake County, Kendall County, Kane County, Cook County, and the greater Chicagoland area.