I have a office building located in Chicago. I am having a difficult time placing tenants in the building. I purchased it in 2012 empty with a ton of deferred maintenance. I did a major rehab to the building in hopes to attract new tenants. I currently only have about 15% occupancy and am bleeding money everyday just to keep the building afloat. I do not think it is a pricing issue but more of an exposure issue. The building is set back from the main road so needs to be a destination type of tenant. The location could be better but the population in this area is pretty dense and there are no similar buildings at this price point. I attached my craigslist ad. Any ideas are really appreciated especially from local Chicago investors. Main problem is I am in Ca and this building is in Chicago. thanks Adam
Where in Chicago is it located?
located on 76th and Kostner , Close to Midway airport
How about a mailing/telemarketing campaign targeting logical businesses within a mile of your property? You could also try an open house for commercial agents, food/drinks and commission invectives. Give 'em an iPhone 6 with an executed lease.
Do you have a broker listing the property or are you only relying on craigslist ads? Do you have a local Property Manager?
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