'This Is How They Did It': Chicago CRE Women On How Representation Changes Careers

The women leading Chicago’s commercial real estate are looking to pave a path forward for future women to climb up the ranks in an industry overwhelmingly represented by men at the top levels. 

Speakers at Bisnow’s Chicago Women Leading Real Estate event drove home the importance of support networks, sponsorships and institutional change in enabling the next generation of women leaders. The event, held Tuesday at the Radisson Blu Aqua Hotel, honored 25 of Chicago CRE’s women leaders, dealmakers, innovators and rising stars.

“Representation is so important at the forefront, and earlier on in my career, it was tough to find those ladies that you could see and you could say, ‘They made it happen,” said Laura Dietzel, partner and real estate assurance leader for RSM. “This is how they did it.’” 

Dietzel pointed to a stat from a McKinsey Women in the Workplace report that found for every 100 men who received their first promotion to manager in 2024, only 81 women were promoted, which leads to fewer women in executive roles. She said her company focuses on the “broken rung” of leadership with employee network groups that are focused on the advancement and retention of women.  

The downstream effects of the initial gap in promotions is evident in Bisnow’s own reported data: The C-suites of the 100 CRE companies Bisnow investigated in its latest annual DEI series have 1,195 executives, of which 27.2% are women. The companies have 764 board members that are publicly listed, of which 31.8% are women. 

“We've been taught so much that we need to lean in. Where do we need to lean out?,” Dietzel said. “Where does an organization need to meet us and support us as we form families, as we care for aging parents, as we have pursuits outside the office? Maybe what has served the last generation isn't going to serve us as we move forward and try to have structural change in the organization.”

A push for increased representation among the top ranks of CRE comes at a challenging time politically, as President Donald Trump recently signed directives targeting diversity, equity and inclusion efforts in the federal sector and across nonfederal public and private sector entities. A third order takes aim at protections for LGBTQIA+ individuals.

Chicago Women in Trades filed a lawsuit late last month challenging those recent executive orders, alleging the directives are creating confusion and leading to “absurd results.”

To institute change on an institutional level, a top-down approach can be effective, said Colliers Executive Managing Director Julie Northcutt-Dunn. She is the global executive sponsor for the Colliers Women's Network, an organization founded on three pillars that aims to advance women in the industry.

The first pillar is education and training, the second is networking and mentoring, and the third is recruitment and retention, Northcutt-Dunn said. 

“You've got to know your business better than anyone, and you're here to equip females, especially to advance themselves in technology and all things that are going to keep them rolling and keep them advancing,” she said. 

Providing opportunities for leadership is more than just about mentorship — it’s also about being intentional and sponsoring specialized projects, said Jessica Caffrey, executive director of the Cook County Land Bank Authority.

Organizational transparency and flexibility are also important in lifting women up into positions of leadership, she said. 

“Advocate for the younger women. Advocate for other women. Help them,” Caffrey said.