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Before repositioning: dated mixed-use façade with faded signage and worn awnings under overcast light
Before Repositioning
After repositioning: same building with new storefront glazing, planted terrace, warm evening light from occupied units
Post-Repositioning
Mixed-Use Asset Disposition

The tenant mix is
the other half
of your cap rate story.

We price and sell mixed-use assets for private equity sponsors, family trusts, and developers who built a repositioning premium and need a buyer who can see it.

See Case Studies ↓
47 Mixed-Use Assets Sold◆Average 24% Above Ask◆$340M+ in Closed Transactions◆Chicago · Milwaukee · Indianapolis◆CCIM Certified◆Average 38 Days on Market◆PE Sponsors · Family Trusts · Developers◆14 Years Mixed-Use Focus◆47 Mixed-Use Assets Sold◆Average 24% Above Ask◆$340M+ in Closed Transactions◆Chicago · Milwaukee · Indianapolis◆CCIM Certified◆Average 38 Days on Market◆PE Sponsors · Family Trusts · Developers◆14 Years Mixed-Use Focus◆
Three-story mixed-use building with ground-floor retail and residential above in Logan Square Chicago neighborhood context
Case Study 01

Retail-Over-Residential

Logan Square, Chicago

Why the market missed it.

The asset sat on-market for 147 days with a generalist broker pricing it on gross rent multiplier alone. Ground-floor retail was a nail salon on a month-to-month — the kind of tenancy that makes institutional buyers walk. What the comps didn't capture: the residential above was 94% occupied at below-market rents with 18 months of natural rollover runway. The zoning allowed a 600-sq-ft rear addition by-right. We rebuilt the rent roll story, sourced a food-and-beverage tenant to replace the retail, and reframed the asset as a value-add residential play with a retail kicker — not a retail asset with apartments overhead.

"We'd been told the retail tenancy was a liability. Listing reframed it as a negotiating chip and ran a process that generated six offers in three weeks. We closed above ask in a market where everyone said buyers weren't moving."

Patricia Holloway

Trustee, Holloway Family Trust

Final Sale Price

$2.74M

vs. $2.15M original ask

+27%

Above Ask

31

Days on Market

6

Competing Offers

"We'd been told the retail tenancy was a liability. Listing reframed it as a negotiating chip and ran a process that generated six offers in three weeks. We closed above ask in a market where everyone said buyers weren't moving."

Patricia Holloway

Trustee, Holloway Family Trust

The zoning complexity that cleared the field.

A PE fund had stabilized the warehouse floor into creative office and retained the ground-level logistics bay for a last-mile distribution tenant. The problem: the industrial zoning overlay created a buyer pool of roughly three people in the metro — every other operator assumed the conversion was non-conforming. It wasn't. We commissioned a zoning opinion letter, ran it with the city's pre-application process, and converted the perceived liability into a documented competitive advantage. The distribution tenant had four years remaining with two five-year options. We priced the deal on the logistics NOI alone and offered the office upside as optionality — a positioning that opened the asset to industrial REITs who'd never considered it.

Industrial office-over-warehouse building with exposed brick and loading docks in River West Chicago showing adaptive reuse potential
Case Study 02

Office-Over-Warehouse Conversion

River West, Chicago

Final Sale Price

$11.2M

vs. $8.9M original ask

+26%

Above Ask

44

Days on Market

9

Competing Offers

"Our fund had a hard deadline — LP agreements required disposition within the fiscal year. Listing ran a process that felt unhurried but closed in 44 days. The zoning work they did in advance turned what had been a dead-end conversation into a bidding war."

Marcus Chen

Managing Director, Bridgepoint Capital Partners

"Our fund had a hard deadline — LP agreements required disposition within the fiscal year. Listing ran a process that felt unhurried but closed in 44 days. The zoning work they did in advance turned what had been a dead-end conversation into a bidding war."

Marcus Chen

Managing Director, Bridgepoint Capital Partners

Your Asset Is Next

The tenant mix is the other half of your cap rate story.

Corner mixed-use assemblage with live-work lofts, ground-floor café, and office floors in West Loop Chicago development
Case Study 03

Full Mixed-Use Assemblage

West Loop, Chicago

Three parcels. Four use classes. One exit.

The assemblage comprised a corner café with a 12-year anchor lease, live-work lofts on floors two through four, a small-bay office floor with a co-working operator on a month-to-month, and a surface parking lot under a reciprocal easement with the neighboring parcel. The developer had repositioned each component beautifully — the problem was that no single buyer type could underwrite all four uses simultaneously. We ran a parallel process: one track targeting mixed-use family offices comfortable with complexity; a second track structuring a partial-condo conversion that would let a residential buyer acquire the lofts while an office REIT absorbed the commercial floors. The threat of the condo track disciplined the whole-asset buyers into moving. We closed as a single asset at a price that reflected the full repositioning premium.

"I've sold three assets with generalist brokers who couldn't explain the tenant mix to a buyer without losing the room. Listing speaks the language of every buyer type in the room simultaneously — and they structured a process that made our complexity look like a feature, not a problem."

Dominic Ferrara

Principal, Ferrara Development Group

Final Sale Price

$28.1M

vs. $22.5M original ask

+25%

Above Ask

62

Days on Market

14

Competing Offers

"I've sold three assets with generalist brokers who couldn't explain the tenant mix to a buyer without losing the room. Listing speaks the language of every buyer type in the room simultaneously — and they structured a process that made our complexity look like a feature, not a problem."

Dominic Ferrara

Principal, Ferrara Development Group

Quarterly Intelligence

The Mixed-Use Market Brief.

Each quarter, we publish the data our clients use to decide when to hold, when to list, and how to price. Cap rate compression by use class. Buyer pool depth. Zoning overlay activity that's moving values before the market catches up. One PDF. No fluff.

  • Mixed-use cap rate benchmarks by submarket
  • Tenant mix scoring methodology
  • Repositioning premium case data
  • Buyer pool depth by asset class

Download the current issue.

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Quarterly cadence. Unsubscribe anytime.

About the Practice

Built for assets that need a specialist, not a generalist.

Thomas Aldrich, CCIM has spent 14 years focused exclusively on mixed-use disposition in the Chicago metro. Before founding Listing Advisors, he ran the mixed-use desk at a national brokerage, where he learned that generalist platforms price mixed assets on the weakest use class and leave the premium on the table.

The practice works exclusively on a retained basis — no contingency listings, no dual agency. Every engagement begins with a full tenant-mix audit, a zoning review, and a buyer pool analysis before a price is set. That work is what converts a 147-day stale listing into a 31-day competitive process.

Download Market Brief

$340M+

Closed transaction volume

Since 2010

47

Mixed-use assets sold

Chicago metro

24%

Average premium to ask

Last 24 months

38

Median days on market

vs. 112 market avg.