Selling a multifamily building

Buildings in popular areas or recently rehabbed should have higher rents

Gathering current leases and other income sources that your building receives is the first step to determining a buildings value. We need to see what reoccurring fixed expenses your building has and relevant maintenance records. With those figures we use the Capitalization Rate (CAP) and the Gross Rent Multiplier (GRM) approaches to value your property.

Comparing recent sales and what is currently on the market with buildings that are similar to yours will help determine your value. Using the CAP rate and GRM numbers I can give you a true comparison so you can make an informed decision on what price you should ask for your building.

Listing your building using high definition narrated videos, high quality pictures and custom floor plans to produce superior online and printed marketing materials. Preparing a organized sales packet with quality building information means stronger in-person showings to minimize showings that could unnecessarily disturb your current tenants.

Answering inquires timely and coordinating showings while working with you and your current tenants to keep everything moving smoothly. By supplying pertinent information to a potential buyer in a orderly and timely manner your building will stand out in a positive way.

Showcasing your property with HD Videos, professional quality photos, custom floor plans, brochures and organized financial information packets. This gives other agents' confidence to show your property knowing that the sales packet will be understandable and complete. This will in-turn give the buyers enough information to make their decision with complete information and  confidence.

Monitoring your building's activity and in-person showings to collect real time feedback is part of selling your building. Pre-made plans can quickly be adjusted to make sure the process smoothly moves forward. Timely updates will provide you with up-to-date accurate results about the activity of your building.

Offers will have many variables and knowing which offer will have a better chance of closing is as important as the price. Baird & Warner and I will work with you to make sure that the offer you accept will close in a timely manner with no surprises.

Coordinate post signing contact activity including scheduling times with your current tenants so inspectors and appraisers can have timely access to your property.

Closing in a timely manner and with a dollar amount that you are satisfied with is our goal from day one. Rest assured that we will be with you every step of the way with a time proven plan in place to sell your property.

Baird & Warner and I will help make the Prelisting to Contract and Contract to Close process easier.
Tim Brent
Leasing - Sales
Licensed Managing Broker
773-491-0792
tim@homes-condos.com
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Baird & Warner Lincoln Park
2526 N Lincoln Ave
Chicago, IL 60614
773-697-5600
info@homes-condos.com