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Last Night's Olympics Bash

WASHINGTON DC 04.27.2017


A New President & GSA: What Does That Mean For You?

Norman Dong -- U.S. General Services Administration (GSA)
Tom Finan -- Trammell Crow Company
Bruce Childs -- USAA Real Estate
Last Night's  Olympics Bash

The Chicago Real Estate Council proved its mettle last night by showing up in full-force, despite the downpour, to support the Chicago 2016 Olympic bid at Rockit Bar and Grill.

Last Night's  Olympics Bash

CBIZ MHM LLC's Vivian Stoeger and Dana Probst flank Dykema Gossett  PLLC's Joan Berg to discuss how the bid might affect business. Joan tells us her real estate clients are particularly eager for information. The games could bring an estimated $13.7 billion  in revenue to Chicago and $22.7 billion  to Illinois. Of course clients want their piece of that pie!

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Last Night's  Olympics Bash
Last Night's  Olympics Bash

Across the bar, Hammerschlag & Co.'s John Hammerschlag  and Bryan Schroeder surround Draper and Kramer's Timothy Hartnett and Carlyle Group's Ward Feste. They agree landing the Olympics would be great for civic pride. "We really need to see what the outlook is for our city, but we know Chicago is great," Ward said.

Last Night's  Olympics Bash

James Kaplan Cos' James Kaplan (wonder how he came up with the company name), National Real Estate Investor's Marianne Rivera, Appraisal Research Counselor's Steven Kelley,  and William J. Cody Realty Advisor's William Cody (who probably wanted to name his company James Kaplan Cos, but that was taken). Marianne suggested locals might not want to pay for the Olympics considering Chicago's already highest-in-the-nation sales tax. Steven was undeterred: "It would be a great way to revive everything."

Last Night's  Olympics Bash

We spotted Transit Realty's Francis DeCoste  moving from circle to circle. First, he was with The Parking Spot's Reed Singer, then with CTA's Stina Fish. His accent gave him away as a Bostonian, in town to help JLL and CTA with a real estate recapitalization that could be a critical part of the Olympic bid. Although Stina couldn't confirm what's going on that piece of land just northeast of a certain three-line transfer stop on the North Side, she points real estate pros to for more. Francis rubbed salt in our NBA Playoff wound, saying Boston would be a better site for Olympic B-ball.

Last Night's  Olympics Bash

Speaker Lori Healey, from Chicago 2016, arrived just after 7; unfortunately, her cell phone was on the way back downtown in a cab on the North Side. She says the Olympic Committee  has already visited Chicago, and we now wait to hear in October. Here's why the plan is solid: 90 percent of venues are within   15 minute  drive of the proposed Olympic Village in Washington Park; elements of the buildings constructed would be used in other places if it wasn't logical to keep them; and, the city has the infrastructure and airport to support activity. Delivery of the Olympic Village will be a "challenge," but she adds that many of the elements are already in place. And, "Summer Olympics don't lose money."

Epilogue: Lori's cell phone arrived during her speech, assuaging any worries athletes may have had about losing things in Chicago.