Creative short term opportunity in Chicago
Hi All,
I'm trying to solve two different problems and I think I stumbled on a potential opportunity. I'm scouring the Internet for creative investment opportunities, and I'm concurrently trying to plan my wedding.
A lightbulb came on about 20 minutes ago when we realized our guest list was around 200 people, therefore nixing the small venues we've been looking at. Does anyone in the Chicago area (suburbs are ok too) have a vacant warehouse that you're trying to lease, or know will be vacant next year, June? We only require decent bathrooms, power and water. We want to bring our own caterer and not pay fees on every decision we make so this could be a good opportunity for both of us. I'm thinking $1k for the day if the space is ready for use, $500 for the day if we have to put a little elbow grease into it. This could be a great way to offset your vacancy a little bit. Let me know what you think!
Pat
Most Popular Reply
Hi Pat, I have been contacted by a handful of engaged people with this same idea over the years. It usually doesn't work out because if something is vacant right now, it likely will not be vacant next June... and you want to lock in a venue sooner rather than later.
The other problem is property owners are hip to this idea and will want a lot more than $1k. If you could find someone who will rent their space for $1k, its probably going to be an eye sore.
Lastly there is the issue of liability, especially if you are bringing in your own vendors.
Sorry I don't have better news for you! In my experience this just never works.