There is no single number. A defensible price comes from reconciling several independent valuation lenses against live buyer demand. A Broker Opinion of Value (BOV) weighs all of them — it is faster and more market-current than a lender's appraisal, and it is oriented toward pricing and strategy, not loan underwriting.
For income property, value is net operating income capitalized at the prevailing cap rate for the asset type and submarket. In-place NOI sets the floor; market and pro-forma NOI define the upside a buyer will underwrite.
A building delivered vacant is priced for an owner-occupant on a price-per-square-foot basis. For many properties this is a different — and often higher — number than the leased-investment value.
What it would cost to acquire the land and rebuild today sets a ceiling buyers test against — especially relevant for newer industrial and special-purpose buildings where new construction competes.
Recent closed sales of similar assets in the submarket — adjusted for size, condition, location, and lease terms — are how buyers and their lenders sanity-check any asking price.
Current zoning, permitted uses, parking, and the realistic highest-and-best-use can unlock value a like-for-like comparison misses — particularly on corridors where use is changing.
For underutilized sites, the land and redevelopment potential — assemblage, teardown, or change of use — can exceed the value of the existing improvements. Pricing to the right buyer captures that premium.
Price and marketing strategy both depend on who is realistically going to buy. Each buyer type values the property differently — pricing and exposure are built around the pool that pays the most.
A business buying to occupy. Pays for location, functional space, and SBA-financeable fundamentals — often the highest price on a vacant or partially vacant building.
Buying the income stream. Underwrites NOI, cap rate, lease term, and tenant credit. Wants clean financials and durable cash flow.
Buying the dirt and the entitlements. Values redevelopment, density, and change-of-use potential more than the existing improvements.
On a deadline to redeploy proceeds and defer tax. Often the most motivated and fastest-closing buyer in the pool when the asset fits.
Wants turnkey income with an existing tenant. Estoppels, lease abstracts, and tenant credit drive their underwriting and their price.
Knows the submarket, often already nearby. Moves quickly on the right asset and values relationships and certainty of close.
Aggregating portfolios across the Chicago metro. Reached through CoStar, broker networks, and direct outreach — not a yard sign.
Commercial property is illiquid and priced by competition. A property shown to a thin buyer pool, listed on a single platform, or mispriced at launch does not just sell slowly — it sells for less. Two things erode price: too few qualified buyers competing, and time on market that signals a problem.
Every listing launches across every channel that matters, simultaneously and with no gaps — then is actively worked, not just posted.
✓ CoStar — the institutional database brokers and investors search first
✓ LoopNet — the largest public commercial marketplace, full exposure
✓ Crexi Pro — investor-focused marketplace with active buyer traffic
✓ Commercial MLS — co-broker reach across the brokerage community
✓ RE/MAX national network — the largest brokerage footprint in the country
✓ Targeted email campaigns — to qualified investors and operators by asset type
✓ Investor & operator outreach — direct, by phone, to the active buyer pool
✓ Signage — professional on-site presence where confidentiality allows
✓ Direct calls — to known buyers and 1031 buyers searching right now
✓ Buyer-mandate matching — against active acquisition requirements already on file
✓ Dedicated property page — on JasonCRE.com, indexed and shareable
✓ Professional Offering Memorandum (OM) — financials, photos, and the investment thesis
Price is one term in a contract full of them. The terms surrounding the price are where deals are won, protected, or lost — the goal is a clean, enforceable contract that actually closes on the seller's side of the ledger.
✓ Earnest money — structured and staged to keep the buyer committed
✓ Due-diligence period — scoped tightly so the property is not tied up indefinitely
✓ Financing contingency — qualified and time-boxed to protect the timeline
✓ Closing timeline — defined milestones with teeth, not open-ended dates
✓ Tax prorations — Illinois taxes paid in arrears handled correctly at closing
✓ As-is language — limiting post-closing liability where appropriate
✓ Tenant estoppels — confirming lease terms so income survives due diligence
✓ Title & survey — clearing exceptions and encroachments before they stall closing
✓ Environmental (Phase I) — anticipated and managed, not discovered late
✓ Municipal issues — zoning certificates, transfer stamps, and point-of-sale requirements
A signed contract is the start of the hardest stretch, not the finish line. Most deals that die, die between LOI and closing. The broker's job is to quarterback every moving part and keep the deal alive to the wire — coordinating the people and solving the problems before they become deal-breakers.
Closed commercial transactions across retail, industrial, office, and investment property in Lake County and Chicagoland.
Closing was at risk over municipal compliance issues. By working directly with the Village of Mundelein to resolve them — and representing both sides — buyer and seller were brought together and the sale closed.
An assemblage: the transaction was structured so a single buyer acquired both adjacent properties at 209–215 S. Arlington Heights Road together in one deal.
Leased the property to secure an income stream, then sold the tenant-in-place asset to an investor — turning a vacant building into a stabilized investment sale.
Representing sellers of retail, industrial, office, multifamily, and investment property throughout the North Shore, the O'Hare corridor, and the greater Chicago suburbs.
Value comes from reconciling several independent lenses rather than one number: the income approach (in-place and market NOI divided by the prevailing cap rate for the asset type and submarket), comparable sales of similar properties, replacement cost, the property's value to an owner-user if delivered vacant, the zoning and highest-and-best-use, and any redevelopment or assemblage upside. A broker opinion of value (BOV) weighs these against current buyer demand to produce a defensible asking price and a realistic expectation of where the property trades.
A broker opinion of value is a market-based estimate prepared by a licensed broker who is actively transacting in the submarket — it reflects what buyers are paying right now and how the property should be positioned. A formal appraisal is a separate, regulated report typically ordered by a lender for financing and is bound by USPAP standards. A BOV is faster, free in this case, and oriented toward pricing and strategy rather than loan underwriting.
Timelines vary by asset type, price point, and how the property is priced and exposed. Stabilized investment property with clean financials and strong demand can move under contract quickly; owner-user buildings, vacant assets, or properties with title, tenant, or municipal complications take longer. Correct pricing and full-platform exposure at launch are the largest controllable factors — a property that sits stale loses negotiating leverage.
There is no upfront cost to receive a confidential broker opinion of value. Listing commission is agreed in the listing agreement before any marketing begins and is typically paid at closing out of proceeds. The structure is discussed directly so there are no surprises.
Yes. Properties can be marketed confidentially — for example to a targeted set of qualified investors and operators without a public sign or open listing — when an owner needs discretion around tenants, employees, or competitors. The exposure strategy is built around the owner's confidentiality requirements.
A tenant in place is often an asset, not an obstacle — it makes the property a turnkey investment for a yield buyer. The lease terms, remaining term, rent relative to market, and tenant credit all factor into value and into how the property is marketed. Tenant estoppels and lease abstracts are prepared so buyers can underwrite the income with confidence and the deal is not delayed during due diligence.
That depends on the asset, the income, the debt and rate environment, and the owner's objectives. A broker opinion of value lays out what the property would likely trade for today, the buyer pool currently active for that asset type, and the trade-offs of holding versus selling — so the decision is made on current data rather than a guess.
A sale can trigger capital gains and depreciation-recapture tax, which is why many investment owners use a 1031 exchange to defer tax by reinvesting proceeds into replacement property within the required timelines. Tax outcomes are specific to each owner — coordination with your CPA or tax attorney is essential, and the transaction can be structured to keep a 1031 option open. This is informational, not tax or legal advice.