Tuesday, June 9, 2009

Commercial real estate sales decline up to 99% in Chicago

That's right. You read here and at Crain's. Many properties cannot sell because (a) there is basically no lending going on, regardless of what you may hear, and (b) buyers are afraid the worst is yet to come.

Here are the Q1 2009 sector numbers for Chicagoland, per the story and Real Capital Analytics:

Industrial: down 81%.

Office: down 85%.

Apartments: down 94%.

Retail: down 99%. (Yup. Two properties, $12.5 million.)

I guess the good news is that it can't get worse. Or can it?


workhard said...

Good stats

Idaho Real Estate

commercial real estate said...

not good...they should do and think of the way that can boost it up again..:)

Evan said...

Interestng Facts!
Commercial Real Estate Advice