Brandi Luecke

BROKERS * AUCTIONEERS * ADVISORS

Oak Brook, IL

(630)218-8000 

Send a Message
6127Member Profile Views
0Recommendations
17Answers
LoopNet Member Since 2001

"You will have some demolition and clean-up/haul-away costs to consider. Hopefully just junk and nothing that would have an environmental impact on the property. The land itself can be challenging to value in most situations. If this is a significant deal to you, consider having an appraisal done by a qualified appraiser. You may also want to solicit quotes from contractors to better quantify costs. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: how can i get value of property that will need delapidated house removed and major clean-up?

Answered by Brandi Luecke via LoopNet Answers on Aug 4, 2010 - Like

"With few exceptions, one is not required by law to leave a tip at a restaurant either, it's just a good faith gesture which most people make knowing that their server relies heavily on tip income. The broker should disclose any commission demands prior to or along with his/her client's offer so you can factor the additional cost of sale into your decision to accept or reject. Real estate transactions can be expensive. As a seller, don't lose track of your bottom line by focusing on the benefits others will receive. The net to seller should be your most important consideration. You would be wise to have a discussion with the broker regarding compensation. If you both have reasonable expectations, you will be able to create a win-win situation for all parties. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: Do I have to pay commission to a buyers agent if I didn't have the property listed with anyone?

Answered by Brandi Luecke via LoopNet Answers on Jul 22, 2010 - Like

"Jeff, From your statement I would say that you are an ideal candidate for an auction. Alternatively, I have found the rental pool for single-family homes in my market to be deep. Depends on the quality of your product however. While entry and mid level homes are in demand, homes above the mid range can be difficult to fill w/ quality tenants. You also have to factor in the wear and tear that will occur on your new homes and the effect that this will have on value when the market improves and you are able to sell. Another factor to consider is market rent and whether it will justify your carry costs. If it makes sense to lease, add a "for lease" component to your sales marketing efforts. Have seen several projects in my area doing both simultaneously and successfully. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: Builder with new home that isn't selling. Bank financing is expiring. Need to move fast or lease. Suggestion

Answered by Brandi Luecke via LoopNet Answers on Jul 15, 2010 - Like

"As a m-family owner, I would have to say MHP's. At issue is the fact that hassle and profitability are inversely related. Properties which require more time and effort from the owner can bear a higher degree of risk and therefore produce a greater return on investment. I can cite examples from NNN Walgreen's and JPM Chase on one end of the spectrum to vacant buildings in need of repair and re-positioning/development on the opposite end. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: multifamily units & mobile home parks

Answered by Brandi Luecke via LoopNet Answers on Jul 12, 2010 - Like

"100% Seller Financing"

In response to: what is a solid way or methood of making a commercial deal work with no money and fair credit?

Answered by Brandi Luecke via LoopNet Answers on Jul 9, 2010 - Like

"Seller usually provides a copy of the existing survey and environmental report during the due diligence phase and provides a new or updated survey prior to closing. For smaller transactions, a plat of survey will typically suffice. Larger transactions often require an ALTA survey which is more expensive and identifies the characteristics of the site in greater detail including easements, setbacks and other matters of title. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: does the seller of a commercial property typically pay for property surveys?

Answered by Brandi Luecke via LoopNet Answers on Jun 22, 2010 - Like

"In addition to the adaptive re-uses mentioned, businesses which require large yards could also be targeted including landscapers, large contractors, transportation cos, utility cos among others. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: I have a 30K sq ft former auto dealership on a major highway. What could I use this building for.

Answered by Brandi Luecke via LoopNet Answers on Jun 22, 2010 - Like

"Most of the incentives are tax-based. The most common being the waiver of sales tax on building supplies. Many of the incentives are negotiable during the initial phases of planning. The link below will direct you to the IL list on the Chicago web site. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: Do you have a list of the Chicago Enterprise zone benefits

Answered by Brandi Luecke via LoopNet Answers on Jun 22, 2010 - Like

"In summary, Class A buildings are high-profile with upscale finishes, state-of-the-art systems, good accessibility and premier tenants. They also command the highest rents in the market. Class B buildings represent a larger market share and have good to average finishes, rents and systems with limited amenities. Class C buildings have below average rents, systems and finishes and are suited for those requiring cheap yet functional space. Unless the subject building has been rated by BOMA or another qualified entity, you will have to use your own judgement based upon your observations. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: How do I know if a buiding is rated A, B or C ?

Answered by Brandi Luecke via LoopNet Answers on Jun 4, 2010 - Like

"Good question. The answer is completely speculative and will certainly vary on a market and property-specific basis. Tough to time real estate transactions precisely with the bottom and top of the market as statistics can lag by months. There are good opportunities in every market. Those who are informed and diligent but can still move quickly get the deals. Jim Blanchard-Inland Real Estate jblanchard@inlandgroup.com"

In response to: With Commercial Realestate trending down, when would be a good time to get back into apartment buildings?

Answered by Brandi Luecke via LoopNet Answers on May 25, 2010 - Like

"If you have not done so already, try some of the social media sites including linked-in, which has a Loopnet group among other comm re related groups, and active rain. Jim Blanchard Inland Real Estate jblanchard@inlandgroup.com"

In response to: Wanted to network

Answered by Brandi Luecke via LoopNet Answers on May 14, 2010 - Like

"Disclosure in a commercial transaction differs from residential where standard forms are utilized. In general, the commercial buyer must conduct their own due diligence to gain a level of comfort with the condition of the property. The seller may provide asistance in this regard via any relevant documents. Although there is no standard disclosure form to provide to the buyer, the seller and broker still have a duty to disclose any latent defects of which they are aware effecting the property. Jim Blanchard-Inland Real Estate jblanchard@inlandgroup.com"

In response to: Are property disclosures required on commercial properties

Answered by Brandi Luecke via LoopNet Answers on Apr 22, 2010 - Like

"In brief summary, a 1031 exchange is a method of defering capital gains tax when selling an investment property whereby other "like kind" investment property is acquired with the cap gains from the first sale via an intermediary and pursuant to section 1031 of the federal tax code. Jim Blanchard-Inland Real Estate jblanchard@inlandgroup.com"

In response to: What is a 1031 exchange

Answered by Brandi Luecke via LoopNet Answers on Apr 19, 2010 - Like

"A consultation fee may be a creative way of circumventing the fact that TIC investments are classified as securities and a securities license is necessary to obtain a commission or referral fee. Never tried this before. Remember that "like kind" is used in section 1031 in a very broad sense. The fact that the property is an investment property will often suffice, i.e. selling multifamily, buying land, office, retail or industrial."

In response to: Do we, as real estate licensees get paid anything for sending a client into buying a t.i.c?

Answered by Brandi Luecke via LoopNet Answers on Apr 12, 2010 - Like

"Whole building. As Bill stated, this should be clearly defined in the lease. Most office properties subscribe to BOMA standards. Descriptions and formulas are summarized in the following link. Jim Blanchard-Inland Real Estate jblanchard@inlandgroup.com"

In response to: how do you get the percent for the common area factor for a 6 story office building?

Answered by Brandi Luecke via LoopNet Answers on Mar 30, 2010 - Like

"All accurate points. In the Chicago MSA costs typically range from $30-40 psf for a basic finish package for an existing cold shell, lower for 2nd generation space. In certain cases, medical for example where plumbing distribution is a factor, the price can be substantially higher. Jim Blanchard-Inland jblanchard@inlandgroup.com"

In response to: what is a typical finish out allowance for an office

Answered by Brandi Luecke via LoopNet Answers on Mar 22, 2010 - Like

"Most use either a capitalization (CAP) rate, a price per key (room) or a multiple of gross revenue. I prefer the gross revenue approach to valuation as CAP rates are not necessarily meant for properties where a business component is involved in ownership and are better-suited for net leased assets. As multiples can vary by market, you will need to obtain recent comps from your area to determine what multiple of gross revenue hospitality properties are trading at."

In response to: Can you explain Rev/Rar?What is a good formula to use in looking at Hotel/Motels to purchase?

Answered by Brandi Luecke via LoopNet Answers on Mar 10, 2010 - Like
©2014 LoopNet, Inc. LoopNet does not guarantee the accuracy of the above content. Full Disclaimer.
Powered By LoopNet Commercial and Investment Properties