It may be the final frontier, but for those looking for more space at an affordable rate is difficult if not impossible.
I have one client whose property taxes went from $38,000 to $45,000 to $52,000 in less than five years. Cook County always has their hands in the entrepreneur’s pocket regardless of the income of the business. Figuring that if you own property, you can pay their freight regardless of increases.
I have a few clients looking for and need more space yet are afraid to make the cost jump. Because the costs today are not the costs tomorrow, especially in Cook.
In the Northwest corner of O’Hare availability is also a major issue. EGV and Schaumburg can knock down as many businesses as they wish, but the cost of building are also increasing.
The future will be interesting.