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January 20, 2010 
 
 
 
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YESTERDAY'S ROUGH FORECAST

One week from today: Five of the biggest names in capital market, Beitler, Reschke, Maki, Kavanau, and Friedman, 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. Sign up now!

 
Yesterday, 800 real estate professionals gathered at the Marriott Downtown for the Real Estate Conference Group forecast, where panelists predicted continuing pain, lessening through 2010. JLL's Bruce Miller opened by citing his concerns for the new year: bank failures, declines in property value and demand, unemployment, Afghanistan, Taylor Swift, his graying beard, and the fact that his wife wants him to eat quinoa. Where to begin?
 
NAI Hiffman's Michael Flynn, Brennan Investment Group's Michael Brennan, and JLL’s Elaine Melonidas

NAI Hiffman's Michael Flynn, Brennan Investment Group's Michael Brennan, and JLL’s Elaine Melonidas (also on this panel: John Buck Co.'s Bill Rolander and DP Partners' Andy James). Michael Flynn—already a hero for getting the microphones to work—said he saw a high number of prospective clients looking forward and planning ahead. Elaine feels her tenant clients have the money to relocate instead of continuing to “pretend and extend,” so she foresees more activity in 2010; but she also predicts it will be five years before we see another new skyscraper downtown.

Wrightwood Capital's David Friedman, First Industrial's Bob Walter, and Sheldon Goode's John Cuticelli

The Private Bank's Karen Case kicked off the financial panel with this gem: Because they’ll be examined like never before, landlords will find lending to be like a proctology exam and a root canal at the same time. (Even those who have difficulty with metaphors squirmed in their seat.) Wrightwood Capital's David Friedman (here with First Industrial's Bob Walter, and Sheldon Goode's John Cuticelli) says his company looked at 230 investment opportunties last year but ultimately didn't close on any.


Quantum: Not Just for Physics Anymore

 
Quantum Real Estate Advisors' Chad Firsel

Ten days into his new business, and Chad Firsel has hired an analyst, a marketing coordinator, and already made a deal. Quantum Real Estate Advisors, based in Oak Brook, will specialize in investment sales of $2 million-$20 million retail properties in the city and suburbs. Chad recently left NAI Hiffman to become more nimble and proactive, and he tells us the name refers to getting the right energy in the right places. You know, like quantum physics.

Quantum Real Estate Advisors' Chad Firsel

After pointing out a low-pressure front and giving the 7-day forecast, Chad showed us some suburban retail hot spots. He expects a lot of business in the far-out suburbs because overbuilding of homes and retail has led to high vacancies and demand on the sell side from lenders and developers with problems. He’s hunting for deals in the city, too, using neighborhood retail connections from Baum Realty, where he worked before NAI. While some investors may feel more comfortable with a large firm, Chad says technology can help him be accountable. His programs allow clients to see who he's emailed about the property, what he's doing to market it, and what kind of response he's generated.


JLL CELEBRATES MLK
 

The 42nd Annual Dr. Martin Luther King, Jr. Remembrance and Celebration Dinner, was held on Saturday at the Hilton Chicago. Jones Lang LaSalle's Dan Ryan (right), co-chair of the scholarship committee, recognized CPS seniors who demonstrated community service and academic achievement. Seven students, from William R. Harper School on the South Side to North Side College Prep were awarded scholarships.


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

 

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