Hoffman Estates Commercial Office Space Leasing

Hoffman Estates is located northwest of Chicago and has land in both Cook County and Kane County. There is a generous residential base of approximately 52,000. Not only is Village a large residential area but it is also home to many large corporations and privately owned businesses. Business owners lease commercial office space in this area as it has the client base businesses need in a suburban location which is often convenient for business owners, employees and customers.

There Is Plenty To Do In Hoffman Estates Which Attracts Residents and Businesses

For those who love to shop, this is the place to do so. With shopping areas/stores such as the Barrington Square Town Center, Cabela’s, Charter Bank Plaza, Forest View Plaza, Fountain Crossing and more, there are plenty of shopping centers to choose from in Hoffman Estates. Shops like World Market, TJ Maxx, Target, Cacique and so many more will make shopping a breeze here.

If entertainment is on your mind, Congo River Golf and Exploration, the Sears Centre Arena, Hoffman Lanes and Poplar Creek Bowl are some excellent places to start. Those who like outdoor recreation will find this Village to be the perfect locale as well. There are plenty of golf clubs in the area including Hilldale Golf Club, Bridges of Poplar Creek Golf Course and Highland Woods Golf Course. The Seascape Aquatic Center is extremely popular as well.

Whether you live or work here, you will need to eat out sometimes. Fortunately, great restaurants such as Great Harvest Bread Co., Jimmy John’s, Bistro Wasabi, Red Mango, Poplar Creek Grill and more are located in town to serve you meals throughout the day.

Leasing Commercial Office Space in Hoffman Estates Makes Sense

When searching for a Chicago suburb to open up your office space within and lease an office, this Village is a great choice. Many large, well-known companies are firmly situated in Hoffman Estates, including Sears Holding Corporation headquarters, AT&T Midwest headquarters and Mori Seiki American headquarters.

With that said, you don’t have to be a large corporate entity to fit well within the commercial framework. There are plenty of commercial spaces available for lease which are ideal for smaller, privately-owned companies. You can choose from shared offices settings or opt for entire office buildings, should your company require more room to set up shop.

Many of the spaces for lease are close to the interstate and only about 15 miles from the airport, which is important for companies which have a lot of business travel coming to and from the office.

Hoffman Estates is the perfect office location. The amenities are all around you, no matter where you lease your office in Hoffman Estates. Plentiful restaurants, stores and outdoor recreation options await you for when you are not in the office. The consumer base is favorable and you will find plenty of customers in the area in which to offer your goods and services to when you lease an office in Hoffman Estates.

Elgin Office Space Leasing

Elgin, Illinois, situated 35 miles northwest of Chicago, is a city which offers options for business owners of various sizes. This is especially true for those who wish to lease office space there. Elgin is located in both Kane and Cook counties and has a population of approximately 110,000 individuals, a size which is quite beneficial for business owners who open their doors in Elgin.

New Housing in Elgin Means More Customers for Businesses

In the past few years, Elgin has seen a surge in new homes, townhomes and condos being built. With the large population base and more housing being created for individuals moving to town, this is a big pull for business owners and a reason why many businesses come to Elgin to lease and buy commercial office space.

Plentiful Transportation Options

Due partly to the fact that Elgin is one of the larger cities in Illinois, the transportation options are readily available. There are three Metra stations in Elgin, including National Street, Elgin and Big Timber Road, along with the Pace bus line which runs through the city at various stops. Amtrak may be planning a future stop in Elgin as well in 2015. For those traveling by car, Elgin is surrounded by various interstates, specifically I-90 and I-355, as well as a vast amount of local roads running through town.

Retail Stores, Restaurants and Entertainment Options in Elgin

There are many wonderful shopping options in Elgin. From well-known national retailers such as Payless Shoe Source and Family Dollar to more specialized local shops including Fat Cat Custom Guitars and Shockey Jewelers, Elgin offers much in the way of shopping. Dining establishments are also wide and varied when it comes to national chains and local restaurants. Some of your dining options in Elgin include Chooch’s Pizzeria, Crave Deli, Dunkin’ Donuts, Gasthaus and more.

For entertainment, Elgin offers the Elgin Symphony Orchestra, Elgin Public Museum and plenty of city parks and golf courses. Whether you crave indoor culture or outdoor activities, Elgin has quite a bit to offer its residents, business owners and business employees. There is also the Grand Victoria Casino in Elgin, for those who like to do a little bit of gaming and indulge in casino dining and entertainment.

Shadow Inventory – What Is It and How to Find It

Many Investors have been asking me about shadow inventory how much is out there and how to get their hands on it. Shadow inventory usually refers to the supply of homes that has not yet hit the market, but “hiding” in the background. In Real Estate this refers to foreclosures (REO or bank owned properties) or those close to the process.

Banks and mortgage loan servicing companies typically hold onto properties that haven’t seen a mortgage payment for 90 days and in some cases even 2-3 years.

Why do they hold on so long?

Banks hold on since it allows them to release their inventory over time to keep their books in check and also to provide that easy liquidation to stimulate the real estate economy when necessary. Banks will now be getting more money for those newly released properties, then say 2 years ago, due to the steady increase in home prices and low inventory levels. If they chose to release all at once, it would flood the market with “distressed properties” and bring down property values.

How much “Shadow Inventory” is still out there?

Foreclosures have been steadily declining since 2013 with the highest shadow inventory then at 2.2MM. According to the National Association of Realtors, there is still about 4 years still on the books and it is possible that we could soon see more!

More “Shadow Inventory”? Why? (HAMP) Home Affordable Modification Program

In 2017 and beyond, many homeowners may find it difficult to make their mortgage payments due to “resets” with HAMP thus pushing them into foreclosure. The government’s Home Affordable Modification Program provided temporary relief to borrowers during the housing crisis. These reliefs ended after five years and now payments will be “reset” thus causing loan payment increases for nearly 900,000 homeowners. Some of those are likely to find it difficult to keep up with the payments in our current economy.

Where do Investors find “Shadow Inventory”?

Forget about calling the loss mitigation department or asking the cashier at your Big Bank. They won’t be able to help you. Instead, savvy real estate investors can approach the REO departments of smaller regional banks, credit unions and portfolio lenders to find out what could be “lurking” in the shadows. This presents an opportunity to beat out the competition and purchase at greater discounts.

But my favorite way to locate “Shadow Inventory” is what I call “Driving forDollars”. Simply drive through areas that have high foreclosure activity and look for the white sticker posted on the front window or door of the house. This typically contains the information of the bank or asset manager of the property and their phone number. Give them a call and see where they are in the foreclosure process and if they’re ready to make a deal!

The NEW kind of “Shadow Inventory”!

There is a new kind of shadow inventory on the market these days and I’m not talking about the REO kind. Many successful agents have their own shadow inventory. If you’ve been in the business for an extended period and built up a clientele, these clients typically contact you well in advance of the property going on the market. You advise them of the steps needed to get the house ready to show which typically means doing repairs such as paint, carpet, landscaping, staging, etc. Therefore, there is a period of time before the property actually hits the market creating a different type of shadow inventory. Contacting your favorite realtor about this type of inventory can definitely increase your chances of finding that Dream home.