Illinois has been a fiscal mess for years, but a saving grace has been that the state Constitution mandates a flat tax rate that is now 4.95% on personal income. This makes it harder to raise taxes because politicians have to include the middle class. Now Governor J.B. Pritzker is bidding to blow up that safety valve with a progressive tax that would drive even more taxpayers out of the state.
Champion Realty Advisors, a Chicago-based commercial real estate firm, refocused its strategy to focus on transportation- and outdoor storage-related acquisitions. “We are capitalizing on [our] solid reputation in the industrial real estate community, rather than creating a new entity to grow and diversify the transportation and outdoor storage assets we already own,” said J.D. Salazar, CEO.
The company, which represents family offices and high-net-worth individuals, made the shift due to high prices for vacant land in many of its core markets. The decision to create new yards for parking trucks, trailers, containers and chassis fit in with Champion’s existing focus on the industrial sector. “This is an asset class we have a deep knowledge of. It’s industrial real estate that is still primarily owned by entrepreneurs, so we don’t face institutional competition for acquisitions,” Salazar said.
New Venture Seeks Investment Opportunities in Transportation and Outdoor Storage Properties on Behalf of Family Offices and HNWIs