Commercial real estate leaders see uncertain future

Commercial real estate investors in Illinois might be less optimistic about the market over the long term. According to a study conducted by the Real Estate Roundtable, the problems the Trump administration has run into in trying to implement some policies has contributed to this lack of optimism. While the situation is considered stable at present and steady growth is expected in the months ahead, the picture beyond that is more uncertain.

It is believed that prices in retail, multifamily and some other property types are peaking. Capital is still available for good deals. Around 33 percent of those who were surveyed reported that regarding asset pricing, prices are a little higher than in 2016. However, nearly half expect these prices to remain the same in a year while 15 percent think they will increase.

Leaders in the industry report concern about the effect of the geopolitical situation on commercial real estate as well. Ultimately, there is a sense of uncertainty in the industry that is contributing to the lack of optimism.

There are a number of complex elements to commercial real estate investment, and an attorney may be able to assist with some aspects of the purchase, sale, management and development of commercial real estate. Contracts and contract disputes may also be an issue whether they are between landlords and tenants, owners and contractors or other parties. A person who is new to commercial real estate investment might want to begin by consulting an attorney. The attorney may be able to review common legal pitfalls and other potential problems.

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