Investors seek a safer haven in real estate and auctions
CHICAGO, Sept. 28, 2021 (GLOBE NEWSWIRE) – As the Covid economy reshapes consumer markets, investors find refuge in real estate, especially in auctions, according to the Chicago-based national real estate company , Diliberto Real Real Estate Services.
The world of real estate has changed. Professional office equipment these days offers a short walk to your favorite cafe or trendy restaurant; which is most often your own kitchen. Workwear measured from the waistline, as Zoom reaches unprecedented heights. And virtual stores in general. So what does real estate hold?
âAn important transfer of ownership,â according to Dino Diliberto, project manager at Diliberto Real Estate Services. âLong-time owners recognize the need to reposition their property and don’t want a challenge, while new investors recognize the investment opportunity to buy properly,â adds Diliberto. One example is in Chicago’s suburb of Palos Heights, where 90% of recent sealed offers sell out within 8-10 weeks and before deadlines set by Diliberto, up from 60% to 65% in the 5 recent years, according to Diliberto. .
These included; Indian Trails Mall, anchored in Dominick’s grocery store, a 136,000 square foot 12-acre mall; sell in about eight weeks to a large fresh food store operator. Palos Plaza, located in Palos Heights, with gross sales of $ 534,000, only lasted a few weeks in the market before bids piled up and a winning bidder was determined. A square block on Chicago’s State Street flew off to a residential developer within weeks.
Reimagining real estate in some ways will dominate returns. For example, struggling office markets can find their way to residential redevelopment. According to the National Association of Realtors, as of September 10, New York, Washington DC, Los Angeles, Chicago, San Francisco, Boston, Philadelphia, Denver, Seattle and northern New Jersey suffered the largest declines in occupancy in a period 12 years old. period of months. 26 of 390 markets lost more than 1 million square feet of office occupancy on a net basis in the past 12 months ending September 19. Diliberto says this clientele benefits from defining values ââthrough a bidding process, quickly attracting the right buyers.
National and regional offers are planned for private and corporate sellers on the Diliberto auction platform, with sales in autumn and winter. For information: [email protected] or dial 708-361-2437.
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