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January 14, 2010 
 
 
 
Leopardo - left tile
 
BEST TIME TO BUILD?

BeitlerReschkeMakiKavanauFriedman. Five of the leading figures in capital markets take on the topic at our next Bisnow Breakfast & Schmooze: the future of credit, construction financing, and the CMBS market. Jan 27, Oak Room at the Metropolitan Club, crazy low price. Sign up now!

 
If you can get the financing (yes, a big “if”), now is the time to start construction, according to McGraw-Hill Construction's Bob Murray. He spoke yesterday at the the company's Outlook 2010 Executive Conference at the Mid-America Club in the Aonn Center.
 
McGraw-Hill Construction's Bob Murray.

Low construction material prices and available tax incentives are key to this timing, and Bob foresees sustained job growth in the industry by mid-2010. He says construction starts had fallen below where they were at the start of the '91 recession, but he expects housing to kick back into full gear by mid-year and institutional projects to provide a buffer. Lenders are less frigid, with just 34% of surveyed lenders saying they were tightening (vs. 91% last year). While healthcare buoyed construction in 2008, he adds, the market for new hospitals is mostly saturated.

McGraw's Kim Kennedy

Locally, housing starts were down significantly in 2009, from 51,500 in '05 to just 7,400 in '09, according to McGraw's Kim Kennedy. The sector is expected to grow by 38% in the coming year, but that won't nearly bring it back to original levels. She says losing the Olympics and a recent loss of conventions at McCormick has brought down hotel development as well.

Legat Architects' Alan Bombick and Bradley Paulsen
Those lack of construction starts haven't sidelined Legat Architects' Alan Bombick and Wight's Bradley Paulsen. Alan is working on a new student center for Joliet JUCO; Bradley is working on renovating Naperville Central High, as well as schools in the Des Plaines.

Inland Auctions Loop Building

 

Inland Real Estate Brokerage will auction 27k-SF 175 West Washington via a sealed-bid auction, with bid deadline set for Monday, Feb. 1. The three-story building was originally built for the Chicago Federation of Musicians in 1934. It houses retail and office space, as well as a two-story auditorium. Inland's Paul Montes, Eric Spiess, Doug Tarr are representing ownership. For a peek, there is an open house on Jan. 21 from 11:00-1:30pm.


A REAL MERGE

 
Real Living Helios Realty's Andrew Magliochetti and RLHR's Jen Olson

Real Living Helios Realty and Real Living Infinity are merging. The new company will operate as Real Living Helios Realty, based in Lincoln Park and the West Loop. Tripti Kasal, founder of Infinity Realty, and brothers Andrew and Joe Magliochetti, co-founders of Helios Realty, will lead the new venture. (That’s Andrew above with RLHR’s Jen Olson.) Tripti will be managing broker and oversee day-to-day operations, while the Magliochettis will focus on biz dev, agent dev, and the growth of complementary businesses.


UPCOMING EVENTS
 

January 27 - Bisnow Breakfast & Schmooze - Capital Markets -Beitler, Reschke, Maki, Kavanau, and Friedman talk the future of credit, construction financing, and the CMBS market, among other issues. Oak Room at the Metropolitan Club. Crazy low price. Info

 
 
 
 
Leopardo (Rally)
 
Note Auction
 
Wight
 
Joyce
 
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