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City Spotlight: Bloomington, IL

This list’s highest-ranked emerging market is Lafayette-West Lafayette, Ind., the same as last quarter in our winter 2023 index. Located just a couple hours west is the No. 2 market of Bloomington, Ill.

Congratulations to Nick Birkey on his new endeavor!

Jon and Mirie Pinjoli opened this week at 511 Chancellor Drive with a soft opening on Monday, January 2, 2023. They have thought of every detail and have created an amazing atmosphere with an amazing menu. This may be everyone's newest favorite breakfast place (but they also serve lunch!). Go support our local entrepreneurs, you won't regret it .

AXIS 360 Commercial Real Estate Specialists, a new commercial real estate brokerage company, has opened at 3001½ Gill St., Suite A, Bloomington.

Laura Pritts and Meghan O'Neal-Rogozinski, formerly of Coldwell Banker Commercial, opened the business.

The term “commercial real estate” means a lot of different things to a lot of different people, including the brokers who practice in the field.  Commercial real estate encompasses virtually all real estate activity outside of residential home sales.

There’s a lot more to the Bloomington-Normal real estate market than single-family homes. The commercial market includes office space, retail, industrial, and big apartments. And it's on its own cycle, typically following the residential market but several months behind.

In June 2022, the Fed increased interest rates by 75 basis points—its largest move since 1994, and the Fed anticipates more increases later this year.

What is a distressed asset? A distressed property is property where the loan amount is greater than the actual value. That’s the long and short of it.

You’ve probably heard it said that small business is the lifeblood of a community. They provide essential services, create jobs, attract visitors, and together, they create the unique place that people come to know and love.

Every industry has its own lingo, but there are some fields that really have a lot of jargon – and commercial real estate is definitely one of those fields. If you don’t have a background in CRE or CRE experience, it’s easy to feel overwhelmed.