All Forum Posts by: Jordan Ness

@Bob Solak and

@ Mark Ainley

great stuff, I feel like there is gold embedded in those comments , esp steering clear of Cook and underwriting quite a bit of upward assessment potential on future taxes into cash flow assumptions - thanks ! 

far as your question of which suburbs it seems Chicago surburbs to the South are starting to pick up with fill-in middle to high income multi-family and SFH buyers Flossmoor, Bolinbrook, New Lenox come to mind - does anyone have strong opinions about staying away from Cook County given all the assessment hikes being talked about for foreseeable future on commercial ? Bear in mind, I am not a native of IL so there are local folks with great great knowledge on here that really know the area and it's particulars which I do not

@Jonathan Klemm, thanks I sent you a PM.  overall strategy looking for value add upside in occupancy rates, a property that cash flows close to breakeven or breakeven+ vs the debt service, on a corner with strong demos with decent traffic counts and a "draw" anchor ie grocery.  In a pandemic recovery, if retail comes back into any kind of favor I'd imagine neighborhood strip centers could come out of this better than OK ?  anybody else with a view I'm sure we could all stand to hear others opinions with far more experience than my own

@Bob Solak very helpful thank you for. the heads up

Hola, BP community !   Am circling a short list of neighborhood strip centers to bid on in the Chicago suburbs $4-6 mln range, looking for an advisor/mentor who can help review the bid level relative to fair market values; am open if they want to invest equity in the deal though we have enough for the down payment already.  Also open to any consultative brokers who are very knowledgeable about neighborhood strip center values in Chicago suburbs who would want to act as a buyers broker to help us hone in on the correct comps for other area merchandise.  Please PM me if interested in either

Understood, and thank you !

@Russell Brazil

That makes sense thank you , so to clarify a couple of questions

1 does the selling broker then collect brokerage from both sides ie buyer and seller in this case ?

2 what would be a better path in the future ? Preselecting a buying broker and asking them to contact the seller’s listing agent for a property we are interested in ?

3 any good threads articles or resources on BP you’d recommend we use as a checklist for contingencies and stipulations that we should check off before proceeding to closing / required due diligence laid out in the contract ?

Again, thanks for the help on this

If We called the listing agent off MLS, we are proceeding to an accepted offer and going under contract, and we don't think the selling broker seems like they are representing our interests correctly, can we insert a different buying broker before we sign the contract ? As of now, a single broker (the listing agent) is representing both sides . We are concerned without inserting another broker who will represent our interests that we will miss contingencies and stipulations. Thanks in advance