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Post by Kyle Mitchell on Apr 25, 2014 6:49:03 GMT -6
We have some great customers. We just had a nice couple from out of town stop in and introduce themselves. We had a nice conversation and seems they are actually wanting to move TO Streator once they tie up some loose ends. We have a lot of challenges, just like nearly everyplace else. Kyle, what town doesn't have drinking, or fighting, or maybe even cops that are perhaps sometimes lenient and not 'Gestapo'? Does your Utopia feature Gestapo Cops and Marshall Law? Where does it exist on the map? There is no Utopia, is there? Sometimes you just have to accentuate the positive and accept some of the negative. Streator, despite a few warts....is well....Beautiful.....in it's own way. That's great! Kyle - people actually want to move to Streator - maybe you should put your building up for sale - now is the time to move on Because it was mentioned that two people want to move here, I should put my building up for sale? Do you really think that two people are going to change the real estate market here? Is commercial real estate now selling because of that? Did the real estate office that this thread was started about sell and another office open? How long will it take for it to sell? $75K seems like a very reasonable asking price for 8,000 sq ft. The historic building doesn't seem to be in bad shape and is furnished with office equipment ready for a business. It will be interesting to see when it does sell and for how much. If this thread isn't too far back to find, maybe someone can post that information here. What other commercial real estate has sold and for how much? I've seen many properties listed, not sell and still sit empty. Obviously there is no sense in putting anything up for sale, so you'll just be stuck with me. What happened to the fund raising? Maybe the City should buy my building and turn it into a retail sales museum; they could hang large pictures of all the stores that Streator used to be able to support.
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Post by dog on Apr 25, 2014 7:52:07 GMT -6
That's great! Kyle - people actually want to move to Streator - maybe you should put your building up for sale - now is the time to move on Because it was mentioned that two people want to move here, I should put my building up for sale? Do you really think that two people are going to change the real estate market here? Is commercial real estate now selling because of that? Did the real estate office that this thread was started about sell and another office open? How long will it take for it to sell? $75K seems like a very reasonable asking price for 8,000 sq ft. The historic building doesn't seem to be in bad shape and is furnished with office equipment ready for a business. It will be interesting to see when it does sell and for how much. If this thread isn't too far back to find, maybe someone can post that information here. What other commercial real estate has sold and for how much? I've seen many properties listed, not sell and still sit empty. Obviously there is no sense in putting anything up for sale, so you'll just be stuck with me. What happened to the fund raising? Maybe the City should buy my building and turn it into a retail sales museum; they could hang large pictures of all the stores that Streator used to be able to support. Streator being located in the state of Illinois is the biggest reason commercial property isn't selling. With talk about making the temporary income tax increase permanent and the possibility of more taxes being placed on business, it would be foolish to open a business at this particular time.
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Post by Kyle Mitchell on Apr 26, 2014 7:03:21 GMT -6
Because it was mentioned that two people want to move here, I should put my building up for sale? Do you really think that two people are going to change the real estate market here? Is commercial real estate now selling because of that? Did the real estate office that this thread was started about sell and another office open? How long will it take for it to sell? $75K seems like a very reasonable asking price for 8,000 sq ft. The historic building doesn't seem to be in bad shape and is furnished with office equipment ready for a business. It will be interesting to see when it does sell and for how much. If this thread isn't too far back to find, maybe someone can post that information here. What other commercial real estate has sold and for how much? I've seen many properties listed, not sell and still sit empty. Obviously there is no sense in putting anything up for sale, so you'll just be stuck with me. What happened to the fund raising? Maybe the City should buy my building and turn it into a retail sales museum; they could hang large pictures of all the stores that Streator used to be able to support. Streator being located in the state of Illinois is the biggest reason commercial property isn't selling. With talk about making the temporary income tax increase permanent and the possibility of more taxes being placed on business, it would be foolish to open a business at this particular time. Are you already making excuses for why the real estate office building won't sell? Isn't it kind of strange that the Illinois problems creating slow commercial real estate sales seems to have concentrated so many vacancies in Streator? So the people who participated in the new business showcase a couple weeks ago are foolish? Isn't the real estate office a special circumstance though? Supposedly the reason that it closed was because of a death, creating a void in that industry here. I agree that Illinois has created an unfriendly business environment, but obviously there are other problems here in Streator that have been compounding the real estate problem for a long time. I think our City should have less restrictions and requirements on businesses, but I just keep hearing them talk about adding more. I noticed that the listing includes signage as an asset. I would think that we could expect a reduction in the asking price in a few months when the City requires it to be removed.
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Post by father of two on Apr 26, 2014 7:37:02 GMT -6
2 houses in my neighborhood sold this week. Both on market less than 6 months. Both to Ottawa families.
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Post by dumdave on Apr 26, 2014 9:12:44 GMT -6
We bought our house from a realtor in Ottawa. My wife found this house on the internet and the lady in Ottawa had the listing. Since we had several friends that recommended Don Hudson, we talked to him and looked at his listings. He is a great guy and knows the real estate business.
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Post by dog on Apr 26, 2014 9:21:29 GMT -6
Streator being located in the state of Illinois is the biggest reason commercial property isn't selling. With talk about making the temporary income tax increase permanent and the possibility of more taxes being placed on business, it would be foolish to open a business at this particular time. Are you already making excuses for why the real estate office building won't sell? Isn't it kind of strange that the Illinois problems creating slow commercial real estate sales seems to have concentrated so many vacancies in Streator? So the people who participated in the new business showcase a couple weeks ago are foolish? Isn't the real estate office a special circumstance though? Supposedly the reason that it closed was because of a death, creating a void in that industry here. I agree that Illinois has created an unfriendly business environment, but obviously there are other problems here in Streator that have been compounding the real estate problem for a long time. I think our City should have less restrictions and requirements on businesses, but I just keep hearing them talk about adding more. I noticed that the listing includes signage as an asset. I would think that we could expect a reduction in the asking price in a few months when the City requires it to be removed. Nope, not making excuses for this particular building at all. I think that is a good price for that building. Even being located directly next to a bar shouldn't keep people from buying it. The business climate in Illinois is not the sole factor why we have vacancies here. Compared to the surrounding communities that are about 30 miles away AND have direct interstate access, I would expect more vacancies here. Nope, I generally stated that it would be foolish to open a business at this time. If the circumstances permitted the opening of a business that would reduce the risk of failure, and raised the possibility of success, then I would encourage everyone to operate their own business. It can be very rewarding. I don't know about these particular new businesses but I would venture to guess that they were able to proceed due to their ability to buy property at an acceptable price. That brings up another point: We have a few new businesses that did or will open up despite your claim of an unfriendly city government with their excessive restrictions, but you can only name one that was prevented from opening. Do you have any more that can bolster your argument? There is no void in the real estate industry here. We are covered by non-local agencies who have local employees working for them. The industry itself is covered, we just don't have a local office. I don't agree that by reducing restrictions and requirements on businesses would make a big difference on businesses wanting to locate here. From my understanding, our zoning laws are pretty much in line with the majority of other communities. If that is a make or break deal for a prospective business, I don't think that they stand much of a chance of staying in business anyway. I will have to look at the sign ordinance again, but I believe the hanging sign would have to come down, but the other sign can stay, but the lettering would have to be removed. You always tout these retail sales per capita numbers. I think the Illinois average was around $12,900 per person, and Streator as around $11,800 per person. Did you notice that Chicago, with all those people and all those businesses only had a $7100 per person? Look at Peru vs LaSalle. Peru has $48,000 per person and LaSalle has $24,000 per person, but their populations are less than 1,000 people different from each other. Peru has located a vast majority of its business within a mile of the interstate, within easy access. Peru has at least 4 new or used car dealerships and large retail chains that really drive the spending per capita up. Streator has only 2 new car dealers and a couple of national chain retailers. I don't expect Streator to ever have the sales numbers that Peru or even Ottawa has. If you look at downtown LaSalle, it looks a lot more vacant than downtown Streator. They have some development in the area of the canal and along their US 6 corridor, but not much else.
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