Regarding Unproductive Commercial Space

Vacant Office/Garage now 6 new apts
Vacant Office/Garage now 6 new apts

Old Tavern, now 2 ADA apartments
Old Tavern, now 2 ADA apartments

Nice new apartments (after)
Nice new apartments (after)

Vacant Office/Garage now 6 new apts
Vacant Office/Garage now 6 new apts

1/6

In Chicago alone, there is an estimated insufficient market demand for 700 linear miles of retail space! That space that can be much more productive as residential.

Ugly Ducklings Can Become Beautiful Swans...

 

Commercial spaces being converted to residential is not a new thing, as loft apartments have been trending for years.

 

But, there are other hidden gems.

 

There are thousands of candidate properties currently zoned for mixed-use; unproductive first floor retail space with residential units on the floors above.

 

The closing of churches and schools is sensational for many reasons, and re-using the structures for residential is logical. Yet, there are so many more antiquated properties primed for reuse, like an out-of-place tavern or a building reduced to an option for storage.

 

Corner convenience stores are rarely productive.

 

Some strips of retail are where businesses go to die.