#commercial storage units chicago

[odysseystorage]

Container Storage Units for Rent in Illinois

Odyssey Storage Rental is one of the best companies that offer container storage units for rent Illinois. Container storage units are a popular solution for both residential and commercial storage needs, due to their durability, security, and versatility. Contact us today.

[srikobatterie]

JK Smart Active Balance BMS Board 8S-20S 150A with 1A Balance current With CAN

Are you tired of worrying about the performance and longevity of your battery packs? Look no further than the JK Smart Active Balance BMS Board, the game-changing solution for managing batteries efficiently and effectively.

Introducing the JK Smart Active Balance BMS Board: a cutting-edge Battery Management System (BMS) designed to optimize the performance and lifespan of lithium-ion battery packs. Whether you're a hobbyist, an electric vehicle enthusiast, or a renewable energy enthusiast, this BMS board is engineered to meet your needs with precision and reliability.

Key Features:

Advanced Active Balancing Technology: Say goodbye to imbalanced cells and degraded battery performance. The JK Smart Active Balance BMS Board utilizes active balancing technology to ensure that each cell within your battery pack is charged and discharged evenly, maximizing energy storage capacity and extending battery life.

Wide Voltage and Current Range: From 8S to 20S battery configurations and up to 150A continuous discharge current, this BMS board is versatile enough to accommodate a variety of applications, from electric bicycles to solar energy storage systems.

Intelligent CAN Communication: Seamlessly integrate your battery management system into larger electronic systems with CAN (Controller Area Network) communication support. Monitor and control your battery pack's status and performance with ease, thanks to the JK Smart Active Balance BMS Board's compatibility with CAN-enabled devices.

Efficient Balance Current: With a balance current of 1A, this BMS board ensures efficient and rapid cell balancing, reducing the time required to bring your battery pack to optimal condition.

Robust and Reliable Design: Built to withstand the rigors of real-world applications, the JK Smart Active Balance BMS Board boasts a durable construction and advanced protection features, including overvoltage, undervoltage, overcurrent, and short circuit protection.

Applications:

Electric vehicles (EVs), including electric bicycles, scooters, and motorcycles

Solar energy storage systems

Portable power banks and energy storage solutions

Robotics and unmanned aerial vehicles (UAVs)

Industrial and commercial battery packs

Upgrade your battery management system with the JK Smart Active Balance BMS Board and experience unparalleled performance, reliability, and efficiency. Invest in the future of energy storage technology today!

What you will get:

8s-20s Smart Li-ion/lifepo4 150A with 1A balance current CAN BMS

Balanced wire sense cable (21 Wire sense cable with connector)

Thermocouple

Starter Switch

Instruction Manual

CAN Wire

Conclusion:

It can also be used for 8s, 9S, 10S, 11S, 12S, 13S, 14S, 15S, 16S, 17S, 18S, 19S and 20S battery configurations. Mean while  this BMS supports for LiFePo4 (LFP from 2.5V to 3.7V) ,Lithium ion (Li-Ion from 3V to 4.2V) ,Sodium Ion batteries (SIB from 1.5V to 4.0V) and finally Lithium titanate oxide (LTO from 1.5V to 2.8V).

At the same time the User manuals are also available in software downloads /wiring diagrams in sriko batteries website and a strong technical support also available from Chicago central time.

Contact

📞+𝟭 𝟳𝟳𝟵-𝟳𝟳𝟬-𝟯𝟭𝟬𝟵

🌐www.srikobatteries.com

📧kruthala@srikobatteries.com

🌍1585 Beverly CT, Unit 121, Auror

[verdesolutions]

Cut Costs and Boost Efficiency with Commercial Energy Storage

Commercial Energy Storage is rapidly becoming a cornerstone of modern business operations. It not only reduces costs but also enhances energy efficiency, making it a compelling investment for businesses. In this blog post, we will delve into the world of Commercial Energy Storage, exploring its benefits, applications, and how it can help your business cut costs and boost efficiency.

Understanding Commercial Energy Storage

Commercial Energy Storage involves the use of advanced battery systems to store excess electricity for later use. This stored energy can be deployed during peak demand periods or power outages, reducing reliance on the grid and saving money.

The Benefits of Commercial Energy Storage

Cost Reduction: By storing energy during off-peak hours and using it during peak times, businesses can significantly lower their electricity bills.

Energy Independence: Energy Storage provides a reliable backup during power outages, ensuring uninterrupted business operations.

Demand Charge Management: Businesses often incur additional charges based on their highest power usage during peak hours. Energy Storage can help manage these peaks, reducing costs.

Integration with Renewable Energy: If your business uses solar or wind energy, Energy Storage complements these sources by storing excess energy for later use, even when the sun isn't shining or the wind isn't blowing.

Environmental Impact: Reduced reliance on fossil fuels and optimized energy usage contribute to a greener environment, aligning with sustainability goals.

Applications of Commercial Energy Storage

Commercial Energy Storage finds applications in various industries, including:

Manufacturing: Smoothens energy demand and reduces electricity costs.

Hospitality: Ensures uninterrupted power supply for guest comfort.

Healthcare: Critical for powering life-saving medical equipment during outages.

Retail: Manages demand charges and lowers operational costs.

Education: Supports uninterrupted learning environments.

How to Get Started

Energy Audit: Conduct an energy audit to understand your consumption patterns and energy needs.

Select the Right System: Work with experts to choose an Energy Storage system that aligns with your business goals.

Installation and Monitoring: Ensure professional installation and continuous monitoring for optimal performance.

Conclusion

Commercial Energy Storage is a smart investment for businesses seeking cost savings and improved efficiency. It not only reduces energy expenses but also enhances reliability and sustainability. To explore how Commercial Energy Storage can benefit your specific business needs, consider consulting experts in the field. Embrace the future of energy management and drive your business toward greater efficiency and profitability.

Verde Solutions LLC

2211 N Elston Ave Suite 208, Chicago, IL 60614, United States

+18005411137

[illinoisrenews]

How Chicago's Real Estate Market is Keeping Up With the Latest Design Trends

You walk down the streets of Chicago, taking in the sights and sounds of the bustling city. As you pass by the towering skyscrapers and historic buildings, you can't help but notice the unique and modern designs that have been popping up in the real estate market.

Chicago's real estate market has been keeping up with the latest design trends, and it's not hard to see why. With a growing population and a thriving economy, the demand for innovative and stylish living spaces has never been higher.

One of the latest trends in Chicago's real estate market is the use of sustainable materials and eco-friendly designs. Developers are incorporating features like energy-efficient appliances, green roofs, and solar panels into their buildings, not only to appeal to environmentally conscious buyers but also to reduce their carbon footprint.

Another trend that's gaining popularity is the use of mixed-use developments. These buildings combine residential, commercial, and retail spaces, creating a vibrant and dynamic community where residents can live, work, and play all in one place. This trend is particularly popular in neighborhoods like West Loop and River North, where there's a high demand for walkable and convenient living spaces.

But it's not just about the latest design trends. Chicago's real estate market is also focused on creating spaces that are functional and practical for modern living. Developers are incorporating features like open floor plans, smart home technology, and ample storage space into their designs, making it easier for residents to live comfortably and efficiently.

One example of this is the recently completed NEMA Chicago building in the South Loop. The building boasts a range of amenities, including a fitness center, pool, and rooftop lounge, as well as high-tech features like keyless entry and a mobile app that allows residents to control their apartment's temperature and lighting.

Of course, with all these new developments, there's always the concern of affordability. But even in a city as expensive as Chicago, developers are finding ways to create affordable housing options. One example is the new mixed-use development in Logan Square, which includes affordable housing units alongside market-rate apartments and retail spaces.

Overall, Chicago's real estate market is keeping up with the latest design trends while also prioritizing functionality, sustainability, and affordability. Whether you're looking for a sleek and modern high-rise or a cozy and affordable apartment, there's something for everyone in this dynamic and ever-evolving market.

Blaze

0 notes

[lifetimeplumbing]

Find a best Tankless water heater installation Services Near Me

Tankless water heater installation

Unlike conventional water heaters, which heat water in storage tanks, tankless units deliver hot water on-demand, or just when you need it. As such, tankless heaters are capable of providing a steady flow of hot water. They use as much as 30 to 50 percent less energy, tankless units can save the average household around $100 a year or more, depending on their water use. In addition to providing hot water on-demand, tankless units also save space and are more energy-efficient.

If you face any issues with your tankless water heaters it’s shows symptoms of sudden low water temperature, or failure to heat water, then call Lifetime Plumbing Tankless Water Heater Installation team to conduct maintenance on the water heater. Lifetime Plumbing is a professional Plumbing Agency established in year 2016 head office is situated in Skokie, Illinois. We can meet plumbing needs of our customers residing in Northshore, Northside Chicago and the surrounding suburbs. Our professional plumbing services are easily accessible for businesses as well as home owners to overhaul any plumbing emergencies.

Even if you are a DIY specialist even don’t try to fix it by yourself instead of that asking a professional plumbing agency to fix elements & check the heater out. For any Plumbing needs or refit of any plumbing utilities our highly trained professionals are just one phone call away, just ask our experts.

Water Heater Repair

Do you need any Water Heater Repair or replacement services? Get in touch with Lifetime plumbing Agency has a group of specialized water heater technicians call us and one of our experienced water heater specialists can come to your home right away. If you notice any problems with the heater, turn it off and call us before it's too late!

Lifetime Plumbing is a professional Plumbing Agency established in year 2016 head office is situated in Skokie, Illinois. We can meet plumbing needs of our customers residing in Northshore, Northside Chicago and the surrounding suburbs. Our professional plumbing services are easily accessible for businesses as well as home owners to overhaul any plumbing emergencies. We offer more than just repairs and maintenance. If you need a plumbing piece but don't have the time, we're your go-to partners. We'll install, test, and maintain any equipment that you purchase. Furthermore, new equipment is covered by our 1-year warranty. From residential plumbing, installing & repairing water heaters to fixing gas leaks, water leaks, faucet installation repair, tankless water heater repair, commercial plumbing, we do everything. We offer free estimates on all types of plumbing repairs and installations at discounted prices. Call us Now.

[enchantedblackrose]

Merry Christmas Eve Eve!

**Not my picture. Google Images.**

This Thing Between Us

Pairing: Jay Halstead/Reader

Warnings: 1 F bomb near the end

Apologies, this has not yet been proofread by someone else. I was just too anxious to get it posted.

There's a knock on your apartment door which causes you to groan. You struggle to find the will to get off the couch and leave the warmth of your favorite sherpa blanket. In fact you contemplate not answering the door. You check your phone to make sure no one sent you a text about coming over.

0 new notifications 

Then there's another knock with a little more force behind it this time. Sighing, your curiosity is getting the better of you. You pause your favorite Christmas movie before standing up. 

'Ugh, Christmas,' you think to yourself. It is a large contributor to your current funk. But it's not your fault you find the holiday incredibly romantic. You can blame Hollywood and American commercialism for that. A constant string of movies, songs, and commercials are crammed down your throat before Halloween every year. Most depict having someone special, someone to cuddle, to sip hot chocolate with, to take you ice skating, or decorate the tree and bake cookies, someone to love and loves you back. You're painfully single and apparently sadistic, self sabotaging yourself with that movie.

You open the door and are met with those familiar piercing eyes belonging to your partner. The other leading cause of your pathetic state.. You met at work, both being a part of the elite intelligence unit for the Chicago Police Department. You're fiercely dedicated to the job, as is he, but that didn't stop either of you from hooking up. You've been sleeping together for a few months. You thought you could handle it all. The friendship, the casual hook ups, working closely together, the undeniable chemistry you two shared, but somewhere along the way you found yourself falling in love. 

Scared of falling alone, of ruining everything, you've kept your feelings a secret. Instead you have, rather unsuccessfully, attempted to limit the hook ups, vowing to make a clean break.

Eventually.

You truly don't even know how you get yourself into these positions, but then you see him smiling at you as he leans on your doorframe and the how becomes a lot clearer. 

"I have a candy cane for you."

"Ugh, Jay," you groan. "I'm really not in the mood. You should have called. I-"

"No, I have an actual candy cane for you." He pulled the curved peppermint stick out of his coat pocket offering it to you.

"Oh. Uh...thanks." You take the candy cane, slightly confused.

"I'm on the way to meet a CI about the case.I thought maybe you'd wanna come along?"

"Yeah, sure. Let me get changed real fast." You indicate for him to come inside. He steps through the doorway, accidentally brushing against you. You catch a whiff of his familiar scent and you find yourself thinking about pulling him to you. But you remember he's here for work. 

Having been at your place quite a few times, he knowingly heads for your couch.You make your way to your bedroom. You're halfway undressed when you hear Jay laugh. You peek your head out to see what sparked the laughter. He sees you and points to your Christmas tree.

It's about 2 feet, strung with multicolored lights, topped with a star that's too big. It's pathetic and the whole thing looks like it could topple over at any given moment.

"What is that?" He exclaims, still laughing.

You huff and cross your arms. "Stop it. I haven't exactly had the chance to go out and buy a new tree." It's true. The case has you logging more hours than normal and your current mental state wasn't exactly inspiring your Christmas spirit, either. As you finish getting out of your sweats and putting on "real" clothes, you hear Jay still chuckling softly. As much as you want to be annoyed by him, the sound makes you smile slightly.

~☆~☆~☆~☆

Jay's informant has information that proves to be useful. You put in a call to the other members of the team. Soon enough there's a successful bust and several collars. Voight commends the team for a good job, then dismisses you all, rather quickly saying something about enjoying the start of the holiday when given the chance.

Jay takes you back to your place. You hesitate before getting out of his truck, struggling with your own conflicting wants.

"Do you wanna hang out for a bit?" You ask, losing your willpower.

He smiles and kisses your cheek almost brusquely. "I have some things to take care of."

You nod showing you understand, but hope the small smile you give is enough to hide your disappointment you can't help but feel. You slide out of his truck and give a careless wave bye. 

'It's fine,' you tell yourself repeatedly as you make your way up to your apartment. 'This is good even'. Obviously you were failing at breaking things off. This could be your chance. You start getting ready for the long, hot shower your body desperately needs.

~☆~☆~☆~☆

Feeling better than you have in awhile, you settle into your couch beginning your search for something to watch. A knock on your door interrupts. Unbelievable.

You open it to once again find Jay standing there, this time donning a red santa hat and holding an oversized box.

"What are you doi-"

He cuts you off. "Do you mind?" You step aside and he comes in placing the box down in the middle of your living room. For the first time you can see clearly what it is he's brought you.

You feel a wide grin take over your face. "You bought me a tree?" He notices your bright smile and beams back at you.

"I bought you a tree. And some decorations. They're in the boxes still in the hallway. I didn't know what you had." You rush to bring them in. Jay begins removing pieces of the tree from the box as you look through the ornaments and lights he's brought. You inspect each one thoroughly and with a smile. Occasionally Jay stops assembling the tree to look at you. When you feel his eyes on you, you turn to him.

"What?" But he just shakes his head and returns his focus to the tree. "You know," you start carefully, not wanting to appear ungrateful, "I do have a few ornaments from when I was a kid downstairs in the storage unit."

"Well, go get them," he grins."I'm good here."

You return a few minutes later. Jay turned on Christmas music while you were gone, as well as finished getting the tree up. The artificial evergreen stands at 6 ½ feet. With it's big, full branches it's easily the nicest tree you've had as an adult. 

Before he starts to string the lights up, he follows you to the couch where you sit with your small container of ornaments. You lift the lid carefully and begin showing them to him. There's an ornament with your name and date of birth on it. One has your kindergarten picture in it. You save your favorite for last and explain the sentimental value behind it. Jay listens intently as you speak and you swear you love him more for it. 

Together you both start decorating the tree, stopping only to make hot chocolate. Soon the tree is fully decorated and there's nothing more to do than admire it. You both sit on your couch taking it all in.

You curl into Jay and almost automatically he wraps his arm around you. "Thank you," you say softly. "For all of this." He pulls you tighter in response and begins combing his fingers through your hair, but the sweet action stirs something in you.

Sighing, you sit up. Jay looks up at you in alarm. "Hey. What's been going on with you? Hmm?" He nudges you playfully, but when you don't speak, he looks dejected and runs a hand quickly through his hair. He says your name softly. "C'mon. You know you can talk to me about anything and it's not like I haven't noticed you pulling away lately."

You look at him and swallow hard, unsure of what to say. "This isn't enough for me, Jay. I'm sorry. I thought it would be, but it's not."

"What's not enough? The tree? I thought you liked it?"

"No, not the tree! The tree's perfect. I love the fucking tree, okay?" Tears are starting to form as your emotions get the best of you.

"Then what? I'm gonna need a little more information. I'm sorry."

"I don't wanna be the coworker you screw around with. I wanna mean something to you, Jay! Not in the we're partners way, either."

"Aw, baby girl." Your heart aches at the endearment he's only ever used in your most intimate moments together. "Come here." He pulls you tight to him and as much as you don't want to, you welcome his strong embrace. He's quiet for a moment as he holds onto you and you're begging the tears not to fall. "I'm gonna need you to look at me." He gently pulls away and cups your face. He stares deep into your eyes. "This thing between us, it's for real; it's never just been casual for me and I am so sorry I didn't tell you that before now. I'm so in love with you."

There's no stopping the tear rolling down your cheek. Jay wipes it away with his thumb. "You mean that?" You ask, your voice hardly above a whisper. He nods. You smile. "I love you, too." The words are hardly out of your mouth before his lips are on yours. He pulls away after a moment, gently resting his forehead against yours.

Your eye catches the clock on the wall. 12:01 in the morning. It's officially Christmas Eve and the man you love, loves you. An almost inaudible laugh escapes you.

"What?" Jay asks, clearly puzzled.

"Nothing. I'm just happy."

[transportxmile01]

undefined

Xmile Transport and Moving is a local Chicago based company with over 5 years of experience in Residential and Commercial Moves. We also provide Storage and Packing Services as well as Car Relocation anywhere in the United States. Xmile Transport and Moving offers a competent service for those who are relocating within Illinois or cross country.

http://xmiletransportandmoving.com/

[lunarr-rrose]

What is the Deal with Property Insurance?

https://u109893.h.reiblackbook.com/generic11/the-storage-stud/what-is-the-deal-with-property-insurance/

Crum-Halsted is a full service insurance and risk management agency headquartered in Sycamore, IL with six offices in Illinois providing outstanding service, security, and peace of mind for businesses, families, and individuals for over 90 years.

Greg Jones is the Vice President of the Chicago Real Estate Council and Director with the Rogers Park Builders Group as well as a Deacon at Christ Community Church in Lemont. When not working, he enjoys watching the cubs with a good cigar and a great whiskey in hand, playing poker, and riding motorcycles.

https://crumhalsted.com/

Fernando O. Angelucci is the Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,

Find out more at

https://www.thestoragestud.com

https://titanwealthgroup.com/

Listen to our Podcast: https://thestoragestud.podbean.com/e/what-is-the-deal-with-property-insurance/

Titan Wealth Group operates nationwide sourcing off market investment properties for Titan Wealth Group’s acquisition as well as servicing a network of thousands of active real estate investors world wide. Prior to founding Titan Wealth Group, Fernando worked for Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues.

With an engineering background, Fernando is able to approach real estate investing with a keen analytical mindset that allows Titan Wealth Group to identify opportunities and project accurate pictures of future performance. Fernando graduated from the University of Illinois at Urbana-Champaign with a B.A. degree in Technical Systems Management.

Titan Wealth Group was founded in 2015 with the vision of gathering individual investors that have the means to invest but lack either the time to find high-yield investment opportunities or the access to these off-market deals. All too often, founders Fernando Angelucci & Steven Wear came across investors who had deployed their capital only to regret the lack of consistency or degree of returns their investments were producing. In response, Titan Wealth Group provides access to highly-vetted real estate secured investments and off-market acquisition opportunities primarily in the Greater Chicago MSA. Today, Titan Wealth Group not only assists individual investors but has grown to support the acquisition goals and capital deployment of investment groups, private equity firms, and real estate investment trusts (REITs).

As a facilitator of wealth growth, Titan Wealth Group believes that success is not limited to the sum of our efforts and is infinite with what can be accomplished through partnership.

------------------------------------------------------------------------

Fernando Angelucci (00:16): Hey everybody, welcome back. We're doing a special Thanksgiving podcast here today. So on this episode of What's The Deal, the real estate podcast that gives answers, we'll be covering What's The Deal with Property I nsurance. Real estate is one of the few investment vehicles that you can purchase in property insurance for, you now, yay for hard assets. So joining me today to provide some coverage on the topic of Property Insurance is my good friend and colleague Greg Jones. So how are we doing Greg?

Greg Jones (00:51): Good. How about you, Fernando?

Fernando Angelucci (00:53): Doing good. I'm doing good. It's 72, 73 degrees outside in California. I'm glad I'm not in Chicago at the moment.

Greg Jones (01:01): It's not quite that nice here right now.

Fernando Angelucci (01:06): Okay. So Greg, on this podcast, we have all types of listeners from super professional, you know, multi million dollar portfolio, all the way to the new investor or someone that is trying to become a new investor. So let's back up a little bit and, you know, explain who you are and what you do.

Greg Jones (01:26): Got it. So my name is Greg Jones. I am a risk advisor with Crum Halstead Agency. So I work with real estate companies and developers as well as contractors around consulting around risk and placement of insurance.

Fernando Angelucci (01:42): How'd you get into the business?

Greg Jones (01:45): I was introduced to a guy that owned an agency shoot, this is probably almost 10 years ago now. Right place, right time. I grew up in a background of construction, both my dad and my brother owned construction companies. Had friends that were in real estate, didn't want to do construction for a living. So I figured I would give insurance a try and it ended up being a really good fit.

Fernando Angelucci (02:10): Oh, okay. I didn't know that about you.

Greg Jones (02:13): Yeah.

Fernando Angelucci (02:14): Figured it would come up in one of those late night poker games.

Greg Jones (02:17): Yeah, exactly.

Fernando Angelucci (02:20): Okay. So for people that don't know what is Property Insurance and what does a risk advisor do?

Greg Jones (02:31): So property insurance is realistically, it's a like a contract. So the owner of the property has a contract in place with an insurance company, say whether that's a Travelers or a Hartford or whoever the carrier might be. And in that contract, it will lay out in the event of a claim. Here's what the insurance company is going to pay out. And that covers both damage to the property as well as if there's an injury to someone at the property. So the contract States, what the limits are, what the causes of that claim are covered versus certain kinds of causes of claim might not be covered, unless you buy that or purchase it as an add-on, a good example of that is earthquake coverage. Earthquake isn't automatically included, but you can purchase it as an additional coverage line item, but it's all built into a contract that lasts for 12 months between the owner and the insurance company.

Fernando Angelucci (03:28): Okay. And then with those types of con, let's bring it into reality with some examples. So say I'm a new investor. I'm going to be buying a four flat property in Chicago. I'm going to live in one unit myself, rent out the other three units, let's say each units, 1200 square feet and the buildings' a hundred years old, what am I looking at for coverage? Or what should I be looking at for coverage? Where are the premiums going to fall? And what are some things that I should be paying attention to or looking for in those contracts?

Greg Jones (04:04): Right. So the first question you have to answer, especially because you're living in one of those units, is how are you going to cover the property? You could cover it on a personal insurance policy, or you could cover it on a commercial policy because it's four units, that's the breaking point. You could cover it either way. After you get to five units, it's always considered a commercial policy.

Fernando Angelucci (04:27): Okay.

Greg Jones (04:27): If you go the route of commercial, which is typically what I recommend the coverage form is a little bit broader in what it will cover you for. The downside is you have to treat yourself because you're living in one of those units as a tenant, you're a tenant within your own building. So your personal property as the resident, isn't going to be covered, but your asset, the building contents within the rental properties, those are covered under the contract.

Greg Jones (04:59): When you're looking at a four unit building, based on the square footage, there's typically a dollar amount that insurance carriers will look at in terms of we're want to cover this for what it will cost to replace it. If you have a catastrophic loss, right? Every carrier has their own algorithms they'll use for this, but typically it comes down to a dollar amount per square foot. The average we're seeing at least in Chicago right now, if it's joist and masonry or better is typically anywhere from 150 to $170 a square foot is what it would cost to completely rebuild. So we would look at what does that cost look like? Then you can set up whatever deductible structure you want. Deductibles go as low as, I mean, realistically, you can go as low as you use the $500. I never seen anybody go that low. Usually the average is, you know, 25 to 10,000 for a deductible. So then if you do have a loss, everything that it's covered under that contract is paid out minus the cost of your deductible.

Fernando Angelucci (06:00): Exactly. Now, one of the things that occurs quite often in Chicago is we have these pockets, these neighborhoods, where the cost of buy the property is significantly below the replacement value. For example you know, my partner, Steven?

Greg Jones (06:16): Yeah.

Fernando Angelucci (06:16): He has a property where, you know, it's 140 year old masonry and limestone building the cost to replace that type of building would be a 1.4, 1.3, 1.4 million, but he bought it for significantly lower than that in those types of situations, what do you recommend doing with the coverage amount with the policy?

Greg Jones (06:42): So it really comes down to as the building owner, what is your goal in the event of a claim, right? So you want to make sure you have enough coverage so that if there's a partial claim or a partial loss is what they call it. So let's say hale comes through and destroys the roof. It's not a total loss. You want to have enough to repair that roof.

Fernando Angelucci (07:03): Right.

Greg Jones (07:03): The question is, if you were to have a catastrophic loss, the building is completely destroyed or it's damaged so much that the city comes in and says, you have to take this building down. It's now a safety hazard, right? In that kind of scenario, what do you want to do? Do you want to rebuild something there? Or would you rather just take the money and go buy something else and sell the land after the debris has been removed, right?

Greg Jones (07:28): So the answer to that question really drives how we advise, typically in these situations, I find the investor really would rather just take the money and go buy something else because that coverage amount that you've got for that partial loss is more than enough to buy at least another building like it in that area, or maybe even more, right? So you get this dilemma of, I bought it for, you know, say 250,000, but it will cost me 1.5 million to rebuild it. Right? Insurance companies will allow you in some cases and it depends on the carrier, but they will allow you to do what's called a stated amount, or it's a, some carriers call it a loss limit. So, you as the building owner can say, this is how much I want to cover my building for. I recognize it's not enough to rebuild it, but I want to cover it. So let's use this building and as an example, you buy it for 250,000 let's say it's 1.5 to fully rebuild it. And you say, I only want to cover it for half a million dollars, half a million will cover any partial loss that happens. If it's a total loss, I'd rather just take the money and go buy something else. The rating for that is typically a little bit higher, but it still ends up coming out much less than it would be if you were to fully insure it for $1.5 million.

Fernando Angelucci (08:51): And when you say rating, what do you mean by that?

Greg Jones (08:54): So, the premium for insurance for property is driven by a rate. So whatever value is selected for that building. So let's say a million dollars for round number purposes. So you take that million dollars, divide it by a hundred and you multiply it by a rate, and that equals your premium. So let's say it's you're getting a 20 cent rate. So for a million dollar building divide it by 10, multiply it by 0.20, that's your property premium.

Fernando Angelucci (09:24): I see.

Greg Jones (09:24): Rates vary based on the asset type. So typically you'll see multi-family tends to be the highest rated asset class out there where retail is considered a little bit less hazardous, office and industrial tend to be considered the least risky. So you could have a building of the same square footage. Let's say you're at a 18 cent rate for apartment building, same size building would be a, what? 10 to 12 cent rate for retail. You might get as low as 8 to 10 cents on office or industrial, just depending on what the asset class is and where it's located.

Fernando Angelucci (10:06): Interesting. Now with, let's say someone in what situations would somebody opt for the full replacement cost is that if you have like a super custom property that, you know, you can't find anywhere else, or?

Greg Jones (10:20): If you have a super custom property, or if the idea is I like where I'm located, the land has significant value. Even if I was going to take the money, I would rebuild something here. I might not rebuild the same thing. So another way that you can do it is some carriers offer what's called Functional Replacement Cost. Right? I seen this particularly with real estate related to older church properties and some need, especially you think about Chicago land. There is all of these churches that were built in the 18 hundreds, the architectures' crazy. You're not going to rebuild one of those just like it stands right now. Right?

Fernando Angelucci (10:58): Right.

Greg Jones (10:59): But you look at, if we were to have a total loss, we would want to rebuild something, same purpose, but we're not going to rebuild it the same way. And so you can use, what's called a Functional Replacement Cost, where you'll estimate based on, if we had a loss, what would we rebuild? What would the square footage be? Same questions, but you're not basing on what's there, you're basing it on what you would build.

Fernando Angelucci (11:24): Right.That's interesting. With the property insurance business, there's a lot of moving parts and it's one of those vendors in the real estate space that usually a lot of the investors don't actually know what goes on behind, right behind the curtains here.

Greg Jones (11:43): Right.

Fernando Angelucci (11:43): Walk us through. When I talk to you, it almost seems like every person that works within your organization, It's almost running like it's their own little business with inside of the organization. Almost like you're not entrepreneur or entrepreneur, some people would say, what is the day in the life of a risk advisor look like, what are you doing on a day-to-day basis?

Greg Jones (12:04): So on a day-to-day basis my time is usually split in a few different categories, right? So there's the time that goes into just the day to day servicing of your existing clients, right? That's helping guide through the process of whether it's an acquisition, that's coming up a disposition, a refinance, there's always moving parts, particularly within real estate. Right? And so there's a lot of day to day servicing. I mean, the interactions with a real estate client versus let's say a manufacturer is completely different.

Fernando Angelucci (12:38): Right.

Greg Jones (12:38): Right. Just because of all those moving parts. So part of the time is spent with that servicing with myself and my team. There's another element of it, of I'm trying to connect with new people. So before we hit a, you know, pandemic that involved going to lots of events and networking and, you know, all that came to a screeching halt in March. So now it's been a lot more time on the phone working through marketing, trying to figure out different creative ways to connect with people, to bring in new clients. Right?

Fernando Angelucci (13:09): Right.

Greg Jones (13:10): And then once you open that opportunity and you're starting to work on a new client there's a lot of time that goes into underwriting. So if an investor says, Hey, we want you to look at our portfolio. There's a lot of detail that you work through with them to gather the right information. And then you're compiling that information and really painting a picture for your underwriters. So, I mean, people have asked me before, what's the difference between a good broker in a bad broker or a good adviser, bad advisors is it's really making sure that you're painting a picture for an underwriter to make that client look really good versus here's 12 locations, here's all the basic raw data, what's my rate? You know, if you actually go into more detail and explain, like here's what the company does, here's what their practices look like, here's what they require of tenants of vendors coming in and out of the space to do work. You can actually derive a much better result than just providing a spreadsheet asking for someone to get you a quote.

Fernando Angelucci (14:12): Interesting. So almost painting a picture of the whole business, not just that one property, you're looking for.

Greg Jones (14:18): Exactly.

Fernando Angelucci (14:18):

To quote on.

Greg Jones (14:19): Exactly.

Fernando Angelucci (14:20): Interesting. How about on the other side? So that's, you know, that's your prospect side, if you will, but how about the actual carriers that you match up with? How do you find these guys? How do you know if a deal is gonna be right for a certain carrier? Cause I know there's hundreds of insurance companies around.

Fernando Angelucci (14:38): Hundreds.

Fernando Angelucci (14:38): In Iowa and I saw every one of the buildings.

Greg Jones (14:42): We're all headquartered there.

Fernando Angelucci (14:42): Yeah.

Greg Jones (14:42): Well, maybe not all of them, but a lot. So yeah. Every, so every insurance company has a different appetite, right? So there is some time spent with those and what those underwriters figuring out what that appetite looks like. So some carriers will, every carrier will say they like real estate in some capacity. Right? But the question is what kind of real estate that you like. So back in the day is when carriers would stop by the office and, you know, have a catch-up meeting with us, you know, they would talk about their appetite, what they've been hitting on recently where they've seen success. And so the first question is always, what kind of real estate are you writing? So in some cases, it's, they really like office and industrial, some carriers really like apartments, few carriers, like every asset class, there are a few. And then I would say in today's market, it's even changing beyond what it has been historically, just because of the unknowns of, you know, what will come of the pandemic and particularly around office and retail and what that's gonna look like. So we've even seen carriers backing away from those asset classes where they historically have been of the most appetite.

Fernando Angelucci (15:55): Yeah. That makes a lot of sense. So for example, how many carriers do you work with if you had to guess?

Greg Jones (16:03): So in the real estate space, I would say we probably have 15 or 20 that really focus in on real estate that specialize in that. So the team that I came over with that help launch our Chicago office has really put a lot of emphasis into partnering with the right companies that work with real estate because real estate is our focus. And so, if there's a market we've come across, that we find is really competitive in the real estate space, we do what we can to get a contract with them. So there's very few markets that specialize in real estate that we don't work with.

Fernando Angelucci (16:36): Yeah. And it's funny, we've worked with each other in the past and you really know which carriers have an appetite for what type of assets. You know, we do some niche style assets, not only the single family, multifamily, but also the self storage buildings.

Greg Jones (16:51): Uh-huh.

Fernando Angelucci (16:51): And you've gotten quotes to me not only quickly, but usually beating out almost all the competition on the premium. And I think one of the things that really helped us, is the fact that you do have a really good ability to paint kind of that picture. Here's what the company's like. Now I have, I'm somebody that always believes that you should get insurance and, you know, plan for the worst, but hope for the best I have come across a lot of investors that do the opposite.

Fernando Angelucci (17:20): I survived.

Fernando Angelucci (17:20): And swear by real estate insurance is a scam and the carriers never pay out. So for you, what would you say? Why should a real estate investor have property insurance? And on top of that, why should they use a risk advisor or a broker as opposed to just contacting a company directly?

Greg Jones (17:43): Good question. So I would say, why should they have property insurance? The short and simple answer is in most cases, if there's a bank involved, it's going to be required.

Fernando Angelucci (17:54): Right.

Greg Jones (17:54): Where it's an option is where you actually own the asset a hundred percent. There's no lending requirements. You can choose whether you're going to insure the building or not. I've seen this particularly be the case when you've got developers who are buying, let's say a vacant property that they're going to repurpose, right? So usually they'll in a lot of cases, they'll buy it for cash or there won't be a bank involved if you will. So they have a choice whether they want to cover that building or not. The, I would say the reason you want to is because you want to have something that protects your investment, right? And it's not just the asset itself, especially when you're looking at development projects, you might purchase a building for, let's say a million dollars.

Greg Jones (18:43): You're going to put a couple of million into it, repurpose it. It's not just covering that initial million dollar investment. It's also looking at what is the potential income that you stand to lose if you lose that asset. Right?

Fernando Angelucci (18:58): Right.

Greg Jones (18:58): So insurance is, I mean, if you think about it, there's not a product out there where you can spend, let's say, I mean, I'm thinking back to one that I did for a client a while back bought a vacant building for it was like half a million dollars. Once he was done with the repurposing of it, he would have been into it for probably about 2.5. And the monetary return on this was going to be over half a million dollars a year. Once it was all done, the coverage of insurance was like $8,000, but we were covering the building for $2 million. Right? So you're spending eight in the event of a total loss. You're getting all of your investment back minus your deductible for 8K to protect an investment of significantly more. So, I mean, being someone that's fairly risk averse I would strongly recommend it.

Fernando Angelucci (19:59): Yeah. And so you're talking about the significant income that, that property would bring in. Is there some type of a rider that you can get for say, instead of it being a total loss, but say something happens where all of a sudden you lose your income generating potential from that building. Is there some type of like loss of rents protection or income protection that you can put on as a rider?

Greg Jones (20:20): So typically you'll have a loss of income or what's called business interruption coverage that's built in. So once you have a stabilized asset, it's generating rental income, you can cover that two ways. You can do it on a stated amount. So you're stating for every location that you have, this is what our annual income is. And if there's a claim, so let's say there was a fire at the building, right? The tenants have to relocate because you're doing all these repairs, it's going to take six months to do the repairs.

Fernando Angelucci (20:51): Yeah.

Greg Jones (20:51):The policy will pay out that loss rental income for those six months until you're back up and operational again. That's based on a stated amount, it functions the same way. A lot of companies prefer to do what's called actual losses sustained, which means you report what the rental income is, but you're not capped at that number. This is particularly important on portfolios where tenants change, right? You don't want to have to go back and report every single time. Well, this tenant moved out, this tenant, moved in. The rents went up a little bit, you know, and change that number all the time. So having actual losses sustained what they will do if there's a claim, they'll look at at the time of the claim, what was the rental income? And that's what they start paying until the repairs are done.

Fernando Angelucci (21:42): And I know we're skipping ahead here, but what are your recommendations on the two methods stated income versus actual? What do you prefer? What do you advise people to go with?

Greg Jones (21:54): Oh, I always prefer actual losses sustained. If you can get it just because it makes it very clean. So, I mean, a lot of times when you'll have an investor that's buying a new asset, they're typically inheriting tenants, right? They might be doing things to the building, providing more value, updates, all kinds of things. Right? And with that comes typically at lease renewal time adjustments in the lease. And if you have actual losses sustained, it doesn't matter what those adjustments are. You can have a unit that's going forward $2,000 a month. You put a lot of value into it, updates, improvements. You're going to increase that from, you know, $2,000 a month to 2,500 a month or whatever the case might be. You don't have to go back and report it every single time. So you don't want to have a cap on what could be paid out for lost income. Actual losses sustained is a much cleaner way to do it.

Fernando Angelucci (22:49): Gotcha. So what are some of the decisions that an investor or someone would be faced with when choosing insurance, what should they be looking out for? What are the things that you're recommending they look for, or pushing them or nudging them towards getting, if it's additional riders, if it's certain types of policies, kind of walk us through that.

Greg Jones (23:13): So there's a few things that I always look for. First time I see a policy. So one of those things is co-insurance which is a very confusing thing for most investors, co-insurance has to do with how much you're going to cover your building for. So the average investor will always cover their building for replacement costs. Typically that's the most standard way to do it. So let's say you have a building that's valued at a million dollars at replacement cost. Co-insurance allows you to insure it for a little less than that. So typically you'll see either 80% or 90%, but if you go below that, there's, what's called a co-insurance penalty, which means, let's say the buildings' a million dollars in value. You have an 80% co-insurance clause in your policy. That means that you can be fully insured up to 80% of the value.

Greg Jones (24:08): So in this case it would be 800,000, right? If you are insured for less than that, and there's a claim, even if it's a partial claim, they will subtract a percentage off of what would have been your claim paid amount based on how far under that 80% you are. So let's say you're insured only to 60% value. Well, you're 20% below where you should have been any claim that gets paid out is going to be docked 20%.

Fernando Angelucci (24:38): I see.

Greg Jones (24:38):

So what we do is, we look at trying to put everything on what's called Agreed Amount, which waives co-insurance, which basically is stating, I mean, we've gone through the process to make sure we're insured adequately, right? But we don't want any risk of co-insurance or penalties. If there's, you know, evaluation difference between the time we wrote the policy and the time of claim happens. So we are going to the carrier is a green in their contract. They will pay out up to X, no questions asked if that is on agreed amount. So that's one of the big ones we look at. One of the overlooked coverages I think is sewer and drain backup. And it's oftentimes put at a very low limit, but if you've gone through claims before, water damage, and you're a lower level, that can cause a significant damage to repair.

Fernando Angelucci (25:31): 60 to $80,000 worth of damage. Greg Jones (25:34):

Exactly. So that's something that I always want to make sure is at a very good limit. That's included in the Chicago market the other one is ordinance and law coverage.

Fernando Angelucci (25:46): Yeah.

Greg Jones (25:46): So it's not automatically included, but it provides coverage for, let's say you have a catastrophic loss and you're dealing with a building that was built in 1912.

Fernando Angelucci (25:56): Right?

Greg Jones (25:56): It's been updated, but there's a lot of things that are grandfathered in, just because of the age of the building. When you reconstruct, you have to reconstruct according to 2020 building code.

Fernando Angelucci (26:09):

Right.

Greg Jones (26:10): And that's an additional expense that is not automatically covered. So making sure that you have those kinds of things. So we, I really focus on trying to get into the weeds on this kind of thing, to make sure you know exactly what it is you're purchasing, and that it's actually protecting your asset, right? Because there's nothing worse than you go out and you purchase a policy from your broker, you have a claim. And then in that process, something's not covered. And you're like, well, I paid for this policy. Why is this not covered? It's like, well, this wasn't included, or this was sub limited. So only a certain amount of it gets paid and you're left spending money out of pocket. The last thing you want is to spend money out of pocket after you've had a claim, and you're already dealing with that headache.

Fernando Angelucci (27:00): Right. How would you advise someone choose the right coverage for their building in a word? It seems like property insurance is kind of like this pull lever here lose a little bit on the other side, pull lever on the other side, loses a little bit here. Usually it's with premium or with, which coverage amount, you're talking about things that are, let's call them named coverages versus unnamed.

Greg Jones (27:26): Right.

Fernando Angelucci (27:26): You know, issues. So what would you advise for someone and how they should approach choosing the right coverage?

Greg Jones (27:35): So typically the way I've always approached it is, I want to lay every option out there. That's on the table, right? These are the coverages that are available. Here's the tiers at which you can get these coverages. Right? So think about sewer and drain backup. For example, I can show you if you want 25,000 of coverage, it's going to cost of this. If you want 50, it's going to cause this, if you want 250, it's gonna cost that. Right? And then based on the size of the building what's your lower level construction type, right? Is it all block and stone? Okay. You probably don't need as much as then you're looking at, you know, fixtures and things like that versus yeah. We have a frame drywall, carpeted, you know, lower level, right?

Fernando Angelucci (28:19): Yeah.

Greg Jones (28:19): That's gonna sustain a lot more damage. So there's a lot of consulting around, based on what you have. This is what's recommended, but here are all the options. And so you lay that out on the table, make a recommendation but at the end of the day, it's up to that investor to choose what they want to proceed with.

Fernando Angelucci (28:37): Okay. What is the most common mistake or mistakes you see real estate investors make when it comes to property insurance?

Greg Jones (28:46): I would say the most common mistake I see is that the first thing they do is they look at what the premium is and they make the decision based on the premium without actually diving into all of those little ancillary coverages. Right? So they'll look at what the premium is and how much is the building covered for, they won't look at things like co-insurance, they won't look at is there any limitation on what my business interruption coverages, is equipment breakdown included all of those little things that if there's a claim will have a big impact. They're just looking at my billings cover for a million dollars and it costs this much. That's the least expensive one. Let's go with that. Or also looking at, what carrier are you partnering with? How does that carrier respond? If there's a claim. Or they carry that really will push back and try to find any possible way, not pay a claim or do they have a good track record of really working with their insurance, right?

Fernando Angelucci (29:47): How do you find that information?

Greg Jones (29:50): So that's where I think working with a adviser comes into play, especially one that's ingrained in the industry by the industry. I mean the real estate industry. So someone who's worked with multiple carriers has been able to see claims walked out from multiple carriers, and be able to say, I've seen experience with this carrier, They're all willing to offer you terms. Here's the pros and cons of each one and what I think their strong suits are.

Fernando Angelucci (30:19): Gotcha. How about on the flip side, what are some of the common mistakes you've seen risk advisors make?

Greg Jones (30:29): I would say the two that I see the most would be not going into full detail and doing the full underwriting themselves on the front end. So, like I said before, there's a lot of brokers out there. I mean, there's thousands of insurance brokers, right? I mean, you can go to anybody, you want to get insurance pretty much.

Fernando Angelucci (30:48): Right.

Greg Jones (30:50): But if they are not going into that full detail and figuring out all of the things on the front end before they start quoting something with a carrier. There's a lot of things that can get missed. Right? Not actually doing the legwork to make sure are we covering the building adequately, are we running the right reports to make sure that this asset will be fully protected up to the investment level that the investor has, right? Are we including the right coverages?

Greg Jones (31:20): Are we asking for the right endorsements or add-ons right. I would say that's probably the biggest mistake because that's where you find they rush through the process, they get a quote, something happens and then there's an item that wasn't covered, and then it's up to that broker to make that right. So I would say that's probably the biggest mistake I've seen. The other is just not actually, like I was talking about before painting that picture with an underwriter, the difference that you can get for a client through that is huge. It's really, that's a way to create value for an investor when you do it that way versus just spit balling out there to any carrier you can to get a quote. And it's also a way to potentially lose the client in the long run, because you're going to get the best pricing when you paint that picture, versus you're just marketing it out to everybody and taking a shotgun approach. It's very easy for somebody that really knows what they're doing to come in and create that value drive down that cost, and then you lose the client. So.

Fernando Angelucci (32:37): One of the things that I have seen is trying to do everything yourself, as opposed to building out a team to help you with that. And you've alluded to it multiple times that you have a team around you that helps you fill these duties. What does that look like? What does your team look like? And what are they responsible for each?

Greg Jones (33:00): So on the team is built out of there's multiple advisers in my firm multiple ones of us that focus in real estate. I think one of the real advantages is the way we've built out this office is we have professionals that are focused not only within real estate, but within various aspects of real estate. So you have guys that are really focused in the multifamily space. You have guys that are focused in commercial, meaning like office retail, industrial. You have others that are focused in condominium associations, right? So it creates a wealth of knowledge that you can pull from. So let's say you're working on something that's a little bit outside of your wheelhouse. You have that resource that you can bring in to make sure that nothing's getting missed through that process, right? There's expertise there. There's also a service team that handles a lot of the transactional pieces that happen within a real estate account. So when you're going through a refinance there's documentation that the lender needs to see based on what you have on your insurance policy, you know, evidence of coverage, et cetera. We have a team that one processes, those changes provides those certificates when they're needed, helps process the day-to-day things of those transactions that you're doing on the front end behind the scenes with the carrier, so that people like myself, the advisers can really interact more with their clients and do the consulting piece.

Fernando Angelucci (34:31): Yeah, that makes a lot of sense. So let's move back to say new investor, new real estate investors looking to get involved, just saw this podcast. What advice would you give them when they're looking to buy their first investment property or start their first project? Let's say maybe it's inside of a rental, It's a fix and flip property.

Greg Jones (34:57): Right. I would say as someone new that's getting into it, the, I think the most important thing you have to think about when it comes to insurance is partnering with the right broker, because a lot of people are generalists that'll say, sure, I write real estate. I also write restaurants and I write manufacturing and I'll write a trucking company and they're not ingrained into the industry. And there are, there are brokers that really specialize within an industry like myself, that's real estate. Right?

Fernando Angelucci (35:29): Right.

Greg Jones (35:30): As a new investor, there's a lot of education that comes with that first investment, that first project, even the first few. Right? And so being able to partner with someone that is part of the team with you, that can say, okay, based on what you're investing in, or the project that you're doing, these are all the things you want to consider. Right? You don't have to go with all of them, but at least you have the information and you can make an educated decision.

Fernando Angelucci (35:58): And then how about on the flip side, what advice would you give to somebody considering becoming a risk advisor or an insurance broker?

Greg Jones (36:07): I would say if you're going to become an insurance broker or an advisor. The most important thing I think you need to be able to do is specialize in an industry.

Fernando Angelucci (36:15): Okay.

Greg Jones (36:15): For the same purpose. Right? There's obviously a lot of change happening within the insurance industry, right? I mean, online rating systems are on the rise. I mean, think about your home and auto insurance. Right?

Fernando Angelucci (36:31): Right.

Greg Jones (36:32): You don't have to go through a broker to get home and auto insurance. You can go online, plug in your information, the quote will get spit right back out at you. It's turning it into very much of a commodity. Right? I think in the commercial space, there's still a lot of room to bring value to clients. Right? But the only way you bring value is if you can bring consulting and advice and you can't bring consulting and advice on 12 different industries, you have to really be able to understand how your client's business works and speak to that versus taking orders or reacting to what they're asking for when maybe what they're asking for isn't actually going to protect them the right way. And you want to be able to bring value. And that's the only way you can do it.

Fernando Angelucci (37:24): I always tell people, especially new investors for real estate investors, it's good to be a Jack of all trades and master of none. But then you surround yourself with investor or with advisors that are the opposite.

Fernando Angelucci (37:38): Exactly.

Fernando Angelucci (37:38): The advisors is a master of one thing, not a Jack of all trades.

Greg Jones (37:41): Right.

Fernando Angelucci (37:41): So, you know, I worked with you in the past. I know you, I know a lot of people that worked with you in the past, what can a real estate investor do to make themselves a good partner, a good client to you? So that is the interaction between the two is seamless. And you don't want to scream every time you see Fernando calling you on the phone.

Greg Jones (38:07):

Yeah. I would say communication is probably the biggest thing. Right? I was talking with a colleague about this a couple of years ago, and I was like, you can tell a difference between a client that views you as a vendor and a commodity. Versus a client that views you as an advisor and part of their team. Right? And the difference there is, they're bringing you into conversations about what the future looks like in advance. So I've got some clients that are really good at this, where we have quarterly meetings and we'll talk about this is what's in the pipeline. What do we need to be thinking about? Let's prepare for this in advance. They'll ask a lot of questions, and you particularly see this where if you've got an investor who's maybe changing their direction of their focus, right? So let's say I've talked to some groups recently where historically they've done a lot of work in the office and retail space.

Greg Jones (39:05): They want to launch a multifamily division. And so they'll say, okay, we're changing direction here. What do we need to be thinking about as we start looking at a different kind of investment versus what we've done in the past? With those kinds of conversations, the process is much smoother versus the I have a portfolio of office and retail and, Oh, by the way, I forgot to tell you, I'm closing at noon tomorrow on a 80 unit apartment building. I need you to get this added for me, which if there was no conversation on the front end, who knows if the carrier that you're with, you could even add that location to, or you have to go and get something from scratch and you're on a you're on a deadline to do it. So I would say the communication and just having open dialogue about what's going on within the company and asking questions and keeping that line of communication open is the best thing a client can do.

Fernando Angelucci (40:03): Yeah. I mean, that makes a lot of sense with almost any advise you work with. You've got to really make sure you're, you're communicating not only often, but well in advance of when you need things to be done by a certain deadline.

Greg Jones (40:20): Right.

Fernando Angelucci (40:20): So with that being said, how can, you know, how can people reach you and what should they know, or what should they prepare before trying to contact you or reaching out to you?

Greg Jones (40:34): So I can be reached my contact info I believe is on our website www.CrumHalstad.com. I also can be reached by phone, email. I don't know if you'll have that information up later, but that's typically the easiest way to get ahold of me phone and email. As far as what to have prepared, I mean, typically I like to start just by having a conversation with, what is it you're looking for? What do you have? What's the plan? One of the things that I've tried to do that's a little bit different with clients is not just looking at what your particular need is right now, but also like what's the next 12 months look like? Right. So I was a good example of this. I was talking with an investment group that so far all of their investments have been in Chicago. Right? But over the next 12 months, they're trying to start investing in multiple States. And so, having an overview conversation around what the plan is, is really helpful because you want to set a platform that a client can grow from. Right? So as far as what they have prepared, just have a conversation and then we can kind of direct from there, what information we need.

Fernando Angelucci (41:55): Yeah. That makes sense. Come prepared, that I know you like to get involved a little bit earlier in the process and what most investors will involve you in the process. Right?

Greg Jones (42:06): Correct.

Fernando Angelucci (42:06): How many let's say I got a closing on December 30th, when should I call you?

Greg Jones (42:13): I mean, I would say as far in advance as possible but.

Fernando Angelucci (42:18): Right as you to go into contract then?

Fernando Angelucci (42:19): Yeah right as you go into contract. So it really has to do with, it's not so much what our timeline is, really. It comes down to what the carrier's timeline is, right? Because when we get that phone call that says, you know, hey, I'm closing in four or five days, there are some carriers that could be really competitive in that space, but they can't turn it around that quickly. They, because they already have so many files on their desks that they're trying to work through. They're not going to jump on the last minute one that just came in and push everything else they've been working on to the side typically. So as much in advance as you can is great. That being said, there's always options. I mean, I've done it before where I get notification two days before we put something together, it doesn't allow us time to go out to all of the options. Right? But it still allows you to provide some, right?

Fernando Angelucci (43:14): Yeah.

Greg Jones (43:14): And then you talk at that point of, okay, so what's the strategy after we move forward with this, you know, do we try to remarket it down the road at next renewal? Start the process earlier, et cetera.

Fernando Angelucci (43:27): That makes sense. Alright Greg, I really appreciate you coming on. Thank you for giving us the scoop in on Property Insurance and Risk Advisers. Everyone that is watching, they'll have a link to your contact information below as well as the website there, if with whatever you'd like to provide.

Greg Jones (43:50): Awesome

Fernando Angelucci (43:51): And thanks again, everybody for tuning in to What's The Deal, the real estate podcast that gives you answers. If you have any questions or if you have certain topics you'd like us to cover, feel free to comment below, and we'll get back to you as soon as possible. And that is our Thanksgiving edition of What's The Deal. Hope everybody has a safe and happy holiday.

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[chicagojunkremove]

Business Name: Chicagoland Junk Pick Up

Street Address: 6321 Hathaway Ln

City: Downers Grove

State: Illinois

Zip Code: 60516

Country: USA

Business Phone: (773) 596-3071

Website: https://chicagojunkremove.com/

Facebook: https://www.facebook.com/Chicagoland-Junk-Removal-102836485489172

Twitter: https://twitter.com/ChicagolandJunk

YouTube: https://www.youtube.com/channel/UClrPh-Q9e0JCJNRF3q0A2Ag

Business Description: Chicagoland Junk Removal provides trusted and affordable cleanout services throughout Chicago, Illinois, particularly focusing on the western suburbs. Our coverage area includes Naperville, Downers Grove, Darien, Cicero, Aurora, Westmont, Schaumburg, Oak Park, Oak Lawn, and nearby communities. We specialize in residential and commercial junk removal and hauling. Our services include the pick up of yard waste, furniture, appliances, trash, garbage, rubbish, hot tubs, mattresses, and more. We also do total removal services for estate and house cleanouts, and cleanouts for offices, storage units, garages, basements, and attics. We deliver free estimates and efficient services that are licensed and insured. Trust our junk removal professionals to exceed your expectations.

Google My Business CID URL : https://www.google.com/maps?cid=11212672567486060879

Business Hours: Sunday Closed Monday 8:00am-7:00pm Tuesday 8:00am-7:00pm Wednesday 8:00am-7:00pm Thursday 8:00am-7:00pm Friday 8:00am-7:00pm Saturday 8:00am-4:00pm

Payment Methods: Cash Check Visa Master Discover Amex Paypal Cash App

Services: Junk Removal

Keywords: junk removal, estate cleanouts, trash hauling, junk pickup

Business/Company Establishment Date: 12-05-2020

Business Slogan: Best Chicago Junk Removal

Yearly Revenue: 50,000-100,000 USD

Location:

https://www.google.com/maps?cid=11212672567486060879

Service Areas:

https://www.google.com/maps/d/viewer?mid=1tLZ-voK899LghUV5EFNDcoWoqmXL6txU

[odysseystorage]

If you are looking for a portable storage service in Chicago the Odyssey Storage Rental is the best option. we bring excellent service right to your door. Our storage containers are wind and water-tight secured so you can store items easily.

[gregcortezz]

Shipping Container Home Storage Ideas

Using self storage units provide a great option for people to hold onto keepsakes with sentimental value and other personal items, while not having to buy a larger property. The “4Ds of life” – death, divorce, downsizing and dislocation – are facts of life and create a major disruption in our lives. Changing life situations can force someone to live in limbo for periods. They may need to move households and need a space to buy new shipping container store their belongings until they can settle into a new, more permanent situation.

Shipping container self storage may offer them a secure place to keep their possessions until they can get settled into a new place.

In the USA, self storage statistics report that nearly 10% of American households need additional self storage and spends an average monthly cost of $87.89 for a self-storage unit. Nationally, the number of storage facilities ranges somewhere between 45,000 to 60,000.

The 10 most in-demand USA cities for self-storage units. Rank City, State 10 Miami, FL 9 Brooklyn, NY 8 San Diego, CA 7 Las Vegas, NV 6 Phoenix, AZ 5 San Antonio, TX 4 Chicago, IL 3 New York, NY 2 Los Angeles, CA 1 Houston, TX

How much does it cost to rent commercial self storage space vs buying a shipping container? Of course, the answer to this question depends a lot on your specific needs. At commercial self storage facilities, 10’x10′ is the most popular storage unit size, which measures one-hundred square feet and might compare to approximately half the size of a regular garage. A general guideline is that the 100 square foot space will fit the contents of a two-bedroom apartment.

The smallest units average about $50 per month. Much larger spaces cost upwards of $300 per month. Some storage businesses require a 12 month contract to be signed. When you buy a shipping container for self storage you have a one time cost and you own the container forever. If you don’t have an available space to store your container, you possibly may need to rent a small space on a property that is located at a convenient distance to you.

Are shipping containers your best choice for self storage? Most of the people who buy an empty Conex container are using it to store furniture and other possessions that take up a large amount of space. Home based business owners like online sellers who store and ship inventory through websites like EBay, Gumtree and Craigslist find they need somewhere to securely store their products. Additionally, with less storage space (basements and garages) in condos, homeowners are looking for an easy and affordable self storage solution.

Why should we use shipping containers as self-storage units? A short answer: because of their design, construction, size and affordability. A little searching will show that you can buy a used shipping container for a really affordable price (we will address the details later in this article). By their very nature, cargo containers are made to be easily transported to whatever site you require. You may be looking for relocate the container for a household move, in which case it can just be picked up and follow you on your move. Even if you don’t have plans to move the container from one location to another, the containers can be set up quickly and all of your possessions moved inside for safe keeping.

Shipping containers are specifically engineered to be stacked, transportable, and are constructed from corrugated metal sheets that are welded together. The steel boxes are subjected to rigorous quality assurance tests for water resistance, and the ability to withstand moisture, the effects of salt and withstand extreme weather conditions.

Why do shipping containers make really great self storage units? Durability: Made of thick steel walls, strong and capable of storing bulky and heavy goods without damaging the interior of the storage space.

Watertight and Secure: Designed to withstand rains and extreme weather condition conditions during a sea voyage, the containers are in fact watertight against wet weather conditions. Their main function is to make certain that the contents remain dry and undamaged during their trip. Most shipping containers are made of a particular steel alloy called Corten Steel that is especially suited for outside weather conditions.

Vermin and pest proof. The containers are self-enclosed, with tight seals around the doors which prevents rodent and bugs entering and damaging your goods. This can be a problem in many storage facilities. These features combined offer solid security and added peace of mind with the confidence that your possessions are protected, dry and secure.

Low initial investment and low maintenance: Once you have set up your Conex box self storage, there is next to no ongoing maintenance or accumulating monthly rental costs. Buying a shipping container is a one time investment.

Long life expectancy: Shipping containers have a life expectancy of over two to three decades with minimum level of maintenance.

Security: Container entry is secure with a high quality pad lock on the doors and equipped with a special lock box. A “lock box” is housed inside a steel box welded to the doors protecting your padlock from being broken by burglar’s crowbar. Since your container is stand alone and not connected to other people’s storage units, you also have another protection against unwanted entry.

You can store a variety of goods inside. With a few important renovations (like insulation or the other suggestions later in this article), you can safely store almost anything from boxes, books, furniture, electronics without fear of moisture damage. Store larger items. With the ability to open the doors at both ends of the container, containers are easily accessible to store large sized objects.

Portability: Containers are designed to be easily movable, making them especially convenient for packing and for mobile storage needs.

Drive-up accessibility: You can pull up and park your vehicle directly at the doors to your container storage.

How do I choose the right container for storage? There are 2 main factors to consider: the grade or (the condition of how new the container is) and the size. One-Tripper or New Container These containers are brand new. Manufactured and shipped directly from China, having carried their first load of cargo. They will cost more and will be outfitted with new features like polyurethane floor coating, a pre-installed lock box, and handles and doors.

As-Is or General Purpose These are used containers that may have many miles on them. As the name “As-Is” suggests, this is a container purchased in its current, used condition. The cargo container walls may have dents, rust, flaking paint or punctures. The less than perfect condition will be reflected in a lower price. If you are storing spare mechanical parts on a vacant lot, a sparkling new container may not be important and you can save some money by buying a used Conex container.

The standard sizes of ISO shipping containers are: 8ft (2.43m) wide, 20ft (6.06m) in length and 8.5ft (2.59m) high ceiling 8ft (2.43m) wide, 40ft (6.06m) in length and 8.5ft (2.59m) high ceiling * Tall shipping containers called high-cube containers are available at 9.5ft (2.89m) high ceilings.

Contact us

145 S Spring St Suite 700 Los Angeles CA 90012 Ph: 6614122227

[verdesolutions]

Commercial Solar Storage: Empowering Businesses to Harness the Sun's Potential

In the rapidly evolving landscape of the commercial energy industry, businesses are increasingly turning to sustainable solutions to reduce costs and embrace renewable sources. Among these solutions, commercial solar energy storage stands out as a game-changer. Empowering businesses to harness the sun's potential, this innovative technology offers a myriad of benefits, from cost savings to enhanced energy resilience. Here we will explore the significant advantages of commercial solar storage and how it is revolutionizing the way businesses approach energy consumption.

Unlocking Cost Savings

Commercial solar storage allows businesses to produce and store excess energy during peak sunlight hours. By capturing and storing surplus electricity, companies can significantly reduce their reliance on the grid during high-demand periods. This not only minimizes utility bills but also protects businesses from fluctuating energy prices, providing long-term cost savings and financial stability.

Enhancing Energy Resilience

In today's energy landscape, grid disruptions and blackouts can pose significant challenges to businesses. Commercial solar storage acts as a reliable safety net, offering seamless power supply during grid outages. By having an independent energy source, businesses can continue their operations uninterrupted, ensuring continuous productivity and customer satisfaction.

Maximizing Renewable Energy Utilization

As businesses strive to meet sustainability goals, commercial solar storage plays a vital role in maximizing renewable energy utilization. The system's ability to store excess solar energy ensures a steady power supply even during non-sunny periods or at night. This way, businesses can rely more on clean energy sources, reducing their carbon footprint and contributing to a greener environment.

Optimizing Grid Interaction

Commercial solar storage not only benefits individual businesses but also positively impacts the overall grid. By storing excess solar power locally, the system reduces the load on the grid during peak hours, alleviating strain on utility infrastructure. As more businesses adopt this technology, it creates a ripple effect of improved grid efficiency and stability.

Taking Advantage of Incentives:

Various governments and regulatory bodies offer incentives and tax credits to businesses that invest in renewable energy solutions. Commercial solar storage makes businesses eligible for such incentives, further enhancing the return on investment. These financial benefits, coupled with reduced energy expenses, make adopting solar storage an attractive proposition for businesses.

Future-Proofing Energy Solutions:

As the world shifts towards a more sustainable future, businesses must adapt to evolving energy demands. Commercial solar storage future-proofs energy solutions by offering scalable and flexible systems. Businesses can easily expand their storage capacity to meet growing energy requirements without compromising on efficiency.

Conclusion

Commercial solar energy storage is empowering businesses in the energy sector to unlock the true potential of solar power. From substantial cost savings and enhanced energy resilience to maximizing renewable energy utilization and future-proofing energy solutions, this technology brings a range of benefits to businesses. As sustainability becomes a critical factor in commercial operations, investing in commercial solar storage is not just a smart choice for businesses but also a transformative step towards a greener and more resilient future. Embrace the power of solar storage today and be at the forefront of the commercial energy industry's sustainable revolution.

Verde Solutions LLC

2211 N Elston Ave Suite 208, Chicago, IL 60614, United States

+18005411137

https://goo.gl/maps/9SoeKg7BEeSdrbZd6

[lunarr-rrose]

Case Study #1 - Mokena Self Storage

Fernando Angelucci is working on a large deal in Mokena, Illinois. This is a project that he is very proud of and excited about.

In this video, Fernando discusses this project, how he found it, and what the different factors he had to take into consideration. Everything is covered including his thought process as well as the results or expected results of the project is in this 7-minute video.

Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,  

Find out more at

https://www.TheStorageStud.com http://titanwealthgroup.com/

Titan Wealth Group operates nationwide sourcing off market investment properties for Titan Wealth Group’s acquisition as well as servicing a network of thousands of active real estate investors world wide. Prior to founding Titan Wealth Group, Fernando worked for Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues.  

With an engineering background, Fernando is able to approach real estate investing with a keen analytical mindset that allows Titan Wealth Group to identify opportunities and project accurate pictures of future performance.  

Fernando graduated from the University of Illinois at Urbana-Champaign with a B.A. degree in Technical Systems Management.

Titan Wealth Group was founded in 2015 with the vision of gathering individual investors that have the means to invest but lack either the time to find high-yield investment opportunities or the access to these off-market deals. All too often, founders Fernando Angelucci & Steven Wear came across investors who had deployed their capital only to regret the lack of consistency or degree of returns their investments were producing. In response, Titan Wealth Group provides access to highly-vetted real estate secured investments and off-market acquisition opportunities primarily in the Greater Chicago MSA. Today, Titan Wealth Group not only assists individual investors but has grown to support the acquisition goals and capital deployment of investment groups, private equity firms, and real estate investment trusts (REITs).

As a facilitator of wealth growth, Titan Wealth Group believes that success is not limited to the sum of our efforts and is infinite with what can be accomplished through partnership. 

#SelfStorage #RealEstateInvesting #AlternativeFunds ------------------------------------------------------------------------------------------- So one of the deals I'm currently working on, one that I'm very proud of and extremely excited about is a large REIT grade Class A Self Storage facility in Mokena, Illinois, which is a Southern suburb of Chicago. It's a very interesting deal. And just goes to show how your network truly is your net worth. So I had a developer reach out to me with since become very good friends with. And he had a project in Mokena, but he was a little tight for funds and wanting to partner up and figure that more heads were better than one. So he brought me the deal and he said, Hey, Fernando, is this something that you'd be interested in participating in? I said, send over the due diligence information and I'll take a look and I'll let you know my level of interest. Well, when he sent over the due diligence package, I was extremely excited.

One of the things that we always look at as self storage developers is the amount of supply and demand in any given market. And when we say market we're specifically talking about the trade area right now. The trade area is going to be a one, a three, or potentially a five mile radius around the subject property. The reason for that is 90% to 95% of your customer base will come from that trade area depending on the density of the population in the area. So if you're in the urban center, it's going to be a smaller trade area. Whereas if, you know, farther out in the rural areas that you're going to have a larger trade area to encompass, cause it's based of the drive time. The amount of time someone's willing to drive to get to your self storage facility.

So the reason I was excited about this facility was when I looked at the demographic study, as well as the supply index ratios and the feasibility study, it showed that the market was extremely underserved almost by four times. Which means I would be able to increase the amount of storage in the area four times the amount that's currently there and still not meet the total demand. So it was sitting at about a 1.5 net rentable square feet per capita. So 1.5 square feet of storage per person in that trade area, which is extremely low. The national average for equilibrium is about six square feet per person in your area. So that's why I saw that there's the ability to four times the supply. Once we build our facility, which is going to be roughly 140,000 gross square foot. Net rentable about 108,000 net rentable square feet. Will only be at a three to three and a half net rentable square feet per person in the trade air, which means that there's still a ton of demand in the area. And if we remember our, you know, economics 101 class, when there is unmet demand, the price increases to meet, to basically have the part of demand fall off. It's unwilling to pay those prices. So those are very good statistics for us.

This facility is going to be a REIT grade Class A facility. Now what I mean by that is it's a third generation facility. When you look at it from the outside, it almost doesn't even look like a storage facility. It kind of looks like a luxury office building. Luxury, you know, almost like commercial building. It's going to be three stories tall. They have really nice facade on the outside, massive landscape package. You're going to have huge sign and a lot of glass doors just so you can see glass windows. So you can see all of the brightly colored storage locker doors in it. It'll have roughly 960 units give or take a few, depending on how the final plan shake out. Sits on a four acre parcel and it'll take roughly 9 to 12 months for us to build it. It's a large structure, but we have a superstar development team on the project with us.

We will hold the asset for about four and a half years in total. So how does that break down? The first 9 to 12 months is actually building the facility and then getting CO or Certificate of Occupancy from the municipality. Once we have that, then we're going to start our leasing activities. It's going to take another about 24 months for it to break even. Which means that the cash flow coming from the property is enough to cover all the expenses and the debt service or the mortgage payments on the property. So now we're at about month 36 or so, and then from month 36 to month, you know, 50 to 52, 56 or so, we're going to be leasing up from break-even to what we consider stabilization. In the self storage industry, stabilization is considered 90% occupancy. The reason why it's not a hundred percent is because if you're at a hundred percent occupancy, that means that you're not charging high enough rents.

You always want to have a little bit of vacancy. And the reason why is a hundred percent occupancy facility at a certain rent threshold versus raising those rents and being at a 90% occupancy threshold, that 90% facility is actually going to be producing more cash flow than the facility that's at a hundred percent occupancy. So that's gonna take us about, you know, 50 to 56 months or so. At that point, we'll start courting the REITs. Now, remember I said before, this is a "REIT grade" facility. Now what that means is that you have these large Real Estate Investment Trust companies that specialize in self storage. They don't want to take the risk of building the facilities themselves because they're sitting on so much cash. They'd rather have somebody else do that. And then just come in and buy it. When it's ready to go to the market.

They want stable. They want consistent and safe returns for their investors through the stock market. So they would rather buy it once it's completely stabilized. These large REITs will actually come in and they're going to start making us offers in the very low cap rate ranges. Usually in the five to six, maybe six and a half percent cap rate range. Cap rate, just to remind you guys again is going to be your net, your annual net operating income divided by your purchase price or your build costs. Your all in total project costs. So this facility will be producing in excess of a million dollars in net operating income per year. And based off of that multiple, we should be able to sell this thing anywhere between $17million to $18million. Could be a really good deal. Our total cost into the project will float between $12million to $13million. So it'll be a pretty healthy return for the project. So we're really excited about that.

If you'd like to learn more about self storage or some other projects that we're working on currently, feel free to drop us a line. My name is Fernando Angelucci. And I'm The Storage Stud.

[rocketwerks]

Allen & Ginter

Sixth & Cary Streets NW (Warehouse)

600 East Cary Street (Stemmery)

Seventh & Cary Streets SW (Factory)

[IOR] — Allen & Ginter, Manufacturers of Cigarettes and Smoking Tobacco — Office and Factory

P. H. Mayo may have been the first, but Allen & Ginter became the king.

(NCpedia) — Harper's Weekly illustration, January 15, 1887 issue — showing women hand-rolling cigarettes in a Virginia factory

This establishment, which was the first of its kind in Virginia, was founded in 1865, by Messrs. Allen & Ginter. They employ eleven hundred hands, nearly all of whom are girls, have eighteen commercial salesmen on the road, and their goods are known all over the world. This was the first Cigarette Factory in the United States that employed female help in manipulating Cigarettes, and the superiority of this labor over all other is attested by the fact that all other Cigarette factories are following the example of Messrs. Allen & Ginter.

(VCU) — 1889 Baist Atlas Map of Richmond — Plate 1 — showing the warehouse (left), stemmery (center), & factory (bottom) locations

They occupy three large brick buildings, each 70x150 feet, five stories high, which gives them the vast amount of 157,500 square feet of floor space. The two buildings at the corner of 7th and Cary streets, are the manufacturing and shipping departments, while the one at the corner of 6th and Cary streets is used exclusively for the storage and preparing of leaf.

August 2019 — looking towards former warehouse location at Sixth & Cary Streets NW

The entire works are fitted throughout with the most modern machinery, and other appliances, for the successful prosecution of their immense business. The establishment is a paragon of neatness, and the most complete system reigns throughout the premises. They have branch houses in New York, Chicago, San Francisco and London. 

August 2019 — looking towards former stemmery location at 600 East Cary Street

Their production is chiefly fine grades of Cigarettes and Smoking Tobacco. Their Cigarettes have a reputation that has made them a standard article in all parts of the world. They have received the highest awards of merit at the great exhibitions in Philadelphia, Paris, Sydney, Melbourne and New Orleans.

August 2019 — looking towards former factory location at Seventh & Cary Streets SW

In addition to their immense sale in this country, they export them to all parts of the world, and there is scarcely a country in which they are not sold. While the sale of adulterated brands of many American manufacturers has been prohibited in Great Britain, their absolutely pure goods have attained the largest popular sale ever known in Cigarettes in that country, with a steadily increasing demand.

(EBay) — Allen & Ginter Tobacco Reverse Painted Glass Sign, circa 1890

Their Cigarettes are made with different degrees of strength to suit all tastes. They use the tasteless French rice paper, made in France expressly for them. It has no smell, and its purity is such that in burning scarcely an atom of ash remains.

(Lewis Ginter Botanical Garden) — advertisement for Richmond Gem, Richmond Straight Cut, & Our Little Beauties

Among their leading brands, are "Richmond Straight Cuts," "The Pet," "Dubec" (genuine Turkish), "Virginia Brights," "Opera Puff," "Our Little Beauties," "Perfection," "Richmond Gem," "Sunny South," "Dixie," and "Dainties."

Among their Smoking Mixtures, are "Imperial," "Richmond Gem," " Richmond Straight Cut, No. 1," "Perique," "Turkish," "Richmond Mixture, Nos. 1 and 2."

Cut Plug Tobaccos. "Cable Coil," "Dixie Chop," "Richmond Cavendish, Nos. 1 and 2," "Imperial Cavendish," &c, &c. Granulated Tobaccos. "Matchless," "Buds and Blossoms," "Dixie," and "Killickinnick."

(Find A Grave) — John Frederick Allen

In 1882, Mr. Allen, the senior partner, retired, and Mr. Lewis Ginter admitted Mr. John Pope into co partnership, continuing under the old firm name. No firm in existence is more liberal to its employees, or mindful of their interests. Messrs. Ginter and Pope are two of Richmond's most progressive and representative business men. [IOR]

(Find A Grave) — Lewis Ginter

Allen & Ginter succeeded in dominating the cigarette market in large part due to Lewis Ginter’s singular business acumen. Not only did he create a successful blend of bright and burley tobaccos for a tempting, tasty smoke, he also knew how to market his ciggies. [CIGC] 

(Rocket Werks RVA Cigarette Cards)

Starting in 1875, Allen & Ginter became the first tobacco company to issue colorful trading cards with each pack of smokes. Originally, the intent was practical, to stiffen the soft cigarette packs, but by adding a colorful advertising plug, they set off a collector craze that drove sales and forced the industry to follow suit. (Collectors Weekly)

Unfortunately, Ginter’s skills were not universal, and it cost him.

(U. S. Patent & Trademark Office) — diagram from James Albert Bonsack's U.S. patent 238,640, granted March 8, 1881

As mentioned above, Allen & Ginter’s factory output was all derived by hand. Rolling cigarettes was time-consuming, required a large labor force, and limited production. As cigarettes became more popular with the smoking public, tobacco companies started looking for ways to automate the process. Allen & Ginter sponsored a competition for a solution, which was won in 1881 by 22-year-old American inventor James Bonsack.

(PeoplePill) — James Albert Bonsack, sporting a smug “I’m so smart” expression that makes you want to smack him

Bonsack produced a machine that rolled a single long cigarette that was then cut into separate pieces. However, the technology was new and finicky, requiring lots of tinkering to keep it operational. In a singular example of not being able to read the tea leaves, Allen & Ginter elected not to use the device, preferring to stay with their tried and true process.

Enter everyone’s favorite tobacco villain, James Buchanan Duke, President of American Tobacco Company.

(Duke University Libraries) — James Buchanan Duke

Duke saw the promise of the Bonsack Machine and immediately inked a deal for its exclusive use. American Tobacco Company actively worked with Bonsack to improve the device, which eventually came to dominate the industry. It gave Duke a powerful competitive advantage over his rivals and led to Ginter’s surrender in 1890. Allen & Ginter was reduced to a being a subsidiary of the new American Tobacco Company Trust, led by Duke as its new president. [CIGC]

(Vintage Richmond) — showing the Imperial Tobacco Company building that replaced the former Allen & Ginter warehouse in 1904 at the NW corner of Sixth & Cary, itself demolished in the late 70s

As for the Allen and Ginter locations, it is difficult to pin down when they were built and when they fell, but their operations would eventually relocate to the American Tobacco Company’s new factory on North Twentieth Street. The former Allen & Ginter buildings were picked up by other tobacco enterprises, and their glory days were over.

(Allen & Ginter is part of the Atlas RVA! Project)

Print Sources

[CIGC] The Cigarette Century. Allan M. Brandt. 2007.

[IOR] Industries of Richmond. James P. Wood. 1886

[RVCJ03] Richmond, Virginia: The City on the James: The Book of Its Chamber of Commerce and Principal Business Interests. G. W. Engelhardt. 1903.