Which describes what you own?
Choose a situation. The path below updates to show what owners in your position actually weigh.
You own a vacant building
An empty building is a clock — taxes, insurance, and maintenance run whether or not it earns. These are the four ways owners stop the bleed and unlock value.
Turn the building into income without giving up the asset. Best when you believe in long-term appreciation or want cash flow while you decide. Weigh achievable market rent against carrying cost and any tenant-improvement dollars you'll front.
A business buying for its own use will often pay above investor pricing — they're buying utility and financing, not a yield. Best when the building fits an operating company's footprint.
Change the use or upgrade the box to unlock higher rent or a better buyer — retail to medical, warehouse to last-mile, tired office to flex. Best when the configuration is the constraint, not the location.
Multiple smaller tenants often produce higher blended rent and lower vacancy risk than waiting on one large user. Best for deep floorplates or buildings with multiple frontages or entrances.
Jason can give you a practical next-step opinion before you spend money on attorneys, architects, or marketing.
Get a next-step opinion →You own an income-producing property
Value here is NOI divided by a market cap rate — so every choice is really a question of whether to harvest the income, grow it, borrow against it, or trade it.
If income is stabilized and cap rates are favorable, your exit may already be optimized. Value equals NOI divided by cap rate; when both are working for you, waiting can cost more than it earns.
Burn off below-market leases, add expense recoveries, or lease vacancy before you sell. At a 5–6.5% cap, a single dollar of durable NOI is worth roughly $15–$20 of value — improvement before exit is often the highest-return move available.
Pull equity out without a taxable sale and keep the asset and its cash flow. Best when you like the income but want liquidity for the next deal or a different use.
Defer capital-gains tax by trading into a larger or more passive asset — often NNN — instead of cashing out. Best when you want to grow basis and reduce management without handing the IRS a check.
Jason can give you a practical next-step opinion before you spend money on attorneys, architects, or marketing.
Get a next-step opinion →You own land or a redevelopment property
Land is priced on what someone can build on it. The decision is how much of that upside you capture yourself versus hand to a buyer.
The cleanest exit. Price reflects the highest and best use a buyer can deliver, and you carry none of the entitlement risk. Best when you'd rather take a defined number than chase the full upside.
Securing zoning and approvals before a sale can multiply land value — but it costs time and money up front, with no guarantee. Best when the spread between raw and entitled value clearly justifies the carry.
Generate income while you wait for the right development cycle — parking, outdoor storage, billboard, seasonal, laydown yard. Best for long-hold land in a path of growth.
Land in a growth corridor can appreciate faster than the cost to carry it. Best when you have conviction on direction and the holding power to wait for the cycle to come to you.
Jason can give you a practical next-step opinion before you spend money on attorneys, architects, or marketing.
Get a next-step opinion →An opinion costs nothing. A wrong move costs plenty.
Owners routinely hire an attorney to draft a sale, an architect to draw a reposition, or a marketing team to push a listing — before anyone tells them it was the wrong path. The point of this page is to flip that order. Frame the decision first, get a straight read, then spend money in the direction that's actually worth it.
What owners ask first
Should I sell or lease my commercial building?
It comes down to whether you want the asset off your books or the income on them. Selling fits when pricing is strong and you have a use for the equity that's tied up; leasing fits when you believe in long-term appreciation or want income while you wait. The deciding factors are your pricing versus replacement cost, the depth of tenant demand, and what you'd do with the proceeds. A short conversation usually makes clear which side you're actually on.
How do I know what my income property is worth?
An income property is valued on its net operating income divided by a market cap rate. Two levers move the number: growing durable NOI, and the cap rate the market will pay. Because the relationship is leveraged, every dollar of stable NOI can be worth roughly $15–$20 of value at a 5–6.5% cap. The real question is usually whether to sell now or improve the income first.
Is it worth getting my land entitled before I sell it?
Sometimes. Securing zoning and approvals before a sale can multiply land value because the buyer no longer carries entitlement risk — but it costs time and money up front and isn't guaranteed. The decision turns on the spread between raw and entitled value, your holding power, and how confident the approvals are. Worth an honest read before you hire a planner or attorney.
What does a next-step opinion from Jason cost?
The initial conversation is free and carries no obligation. The goal is to point you toward the right next move before you spend on attorneys, architects, or marketing — and you leave with a practical opinion whether or not you ever list.
Do I have to decide before I reach out?
No. Not knowing the answer is exactly the reason to start the conversation. The path on this page frames your options; deciding is what the conversation is for.
Jason Bitton is a commercial real estate broker with RE/MAX Commercial in Libertyville, IL — #1 RE/MAX Commercial Broker in Illinois (2022, 2024, 2025) — serving Lake County, the North Shore, the O’Hare corridor, and the Chicago suburbs. More about Jason →