Self Storage Development With Ben Salzberg & Bill Kanatas

Bill Kanatas and Ben Salzberg, are experienced real estate developers, specializing in Class A facilities, often involving the repositioning of closed, dark spaces or ground-up construction. Their strategy is primarily that of a merchant builder, aiming to develop and sell these properties within a three to five-year window after stabilization. They highlighted the importance of community engagement and building trust with municipalities during the entitlement process, especially when addressing concerns about new developments. A key to their success in the Chicago area, despite its high property taxes, has been securing tax incentives, such as the 7B designation, and developing in TIF districts, which showcases their expertise in navigating complex local regulations.

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Visit the Episode Description & Transcript Here:

Self Storage Development With Ben Salzberg & Bill Kanatas 

Ben Salzberg, Bill Kanatas & I Discuss Self Storage Development:

• Merchant Builder Strategy for Self-Storage (00:05:40)
• Ben and Bill break down their merchant builder strategy where properties are developed and sold within a three to five-year window after stabilization.
• Focus on Class A Self-Storage and RV/Boat Storage (00:14:38)
• Ben and Bill share how they found huge wins by concentrating on Class A self-storage and RV/boat storage, which often involve the repositioning of closed, dark spaced or ground-up construction.
• Navigating the Entitlement Process and Building Municipal Trust (00:11:31)
• Ben and Bill discuss some valuable tips on how you can prepare for the entitlement process and the right way to build municipal trust, which are two essential components in a successful real estate transaction.
• Overcoming Chicago's Property Tax Challenges with Incentives (00:20:12)
• Ben and Bill talk about their experiences doing business in the Chicago area, particularly with how they navigate its complex tax hurdles and take advantage of all available incentives.
• Strategic Cleanup of Environmentally Challenged Sites (00:24:57)
• Ben and Bill explain the right and compliant process of cleaning up overgrown properties to restore their best state and even make the necessary improvements.

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