How to justify a change in cap rate?

[Paul Quinones]

My investor bought a Mixed Use building in Chicago 2 years ago at a 6.7% Cap

- Cap rates in area for strictly multi family are in the low 6's

What is the argument that the current Cap rate of 6.5-7.25% should be used on the building vs a higher rate?

That seems to be the current argument with other brokers. I believe, it's all based on risk profile and how we sell it I would imagine. Any help here on how you guys would rebuttal this would be great.

Thank you.