Lake County Illinois Commercial Real Estate

How Commercial Property Tax Rates Vary Within Lake County

Often commercial real estate brokers talk about the significant difference between tax rates in Lake County Illinois versus Cook County. On average, Lake County commercial property tax rates are about half the effective rate in adjacent Cook County. What few bokers understand is the very significant difference in tax rates within Lake County, Illinois. The study Not All Lake County Real Estate Tax Rates are Created Equal highlights just how big this difference can be. It is well worth the read.

The Mixed Blessing of Low "Cap Rates"

A global economy awash in liquidity has been a boon to many real estate investors looking to “cash out” of positions. While on the surface, plummeting “cap rates” appear to be nothing but good news to the real estate community, in reality, this phenomena is a mixed blessing. On the one hand, continued low capitalization rates enhance the value of our owned assets and keep many otherwise failing projects above water. On the other hand, these same low rates help depress rentals and cash flow of existing properties and dramatically increase the potential of future large-scale loan defaults if “cap rates” ever revert to historical norms.

"Scientific Plant Location"

I am often asked why Lake County remains such a vibrant office and industrial market. My answer always is the power of "Scientific Plant Location." By this, I do not mean some complex logistical model but the proximity of Lake County to the homes of Chicago’s top executives.

In Chicago, over seventy percent of the chief executives live in the North Shore suburbs from Evanston to Lake Forest. Most of these suburbs are within a twenty-minute commute of Lake County’s Milwaukee Avenue and Tri-State Tollway business corridors.

Illinois Route 22 Update

Construction work on the Illinois Route 22 lane-widening project is finally wrapping up. For details on the project status, link to: Route 22 Construction Update at the Village of Lincolnshire hompage.

Riverside Foundation Announces Gala

The Riverside Foundation, Lincolnshire, Illinois, announces that its Annual Gala will be held on February 23, 2007. The Riverside Foundation is a 501(c)3 Organization, serving adults with developmental disabilities. For more information, please link to: http://riversidefoundation.org/

Precision Reource Expands in Vernon Hills

Van Vlissingen and Co. represented building ownership in the sale of 700 Hickory Hill Drive in Vernon Hills. The 30,400 sq. ft. office/warehouse building is part of The Corporate Woods. The purchaser Precision Resource is relocating from within the park to meet their growth needs and subsequently will be placing an addition to the building. Brett Kroner of CBRE represented the purchaser. For further information, link to www.vvco.com

Lake County Partners Annual Meeting

Lake County Partners' Annual Meeting is scheduled for November 15th at Lincolnshire Marriott in Lincolnshire and invitations have been mailed. Sign up now to reserve your space!

Lake Forest Country Day School Dedicates New Addition

Lake Forest Country Day School dedicates a spectacular new school building to serve a new generation of Lake County students. For further information, please link to www.lfcds.org

Allendale Shelter Club Boutique

Allendale Shelter Club plans their annual Holiday Boutique for November 6 – 9, 2006 at the Gorton Community Center in Lake Forest, Illinois. The sale benefits disadvantages children at the Allendale School in Lake Villa, Illinois. For more information on the sale, please link to http://www.allendale4kids.org/subpages/shelterclub.htm

University Center of Lake County Open House

The University Center of Lake County will host an open house from 6-8 p.m. on October 11, 2006 at its Grayslake campus to showcase its bachelor degree completion programs.