In case anyone had too much fun last night and doesn't remember (we won't tell...), Bisnow hosted Chicago commercial real estate's networking event of the year.
More than 400 of you joined us last night at Bisnow's annual Chicago Schmoozapalooza, held at the always rockin' House of Blues. Between drinks and munching on sliders, we spotted all kinds of commercial real estate pros talking shop and swapping summer vacation stories.
Doesn't our Chicago office head, Jonathan Hobfoll, look good on stage? When he's not hustling at the office and expanding the Bisnow empire, he and your Chicago reporter are considering starting a Bisnow band. He used to play recorder and she played piano and flute, so hit us up if you know any percussionists.
Here's IBT Group's Gary Pachuki and JLL's Peter Caruso. IBT's having a busy summer, Gary tells us, and the firm's currently building a Mariano's and Petsmart in Evergreen Park. Petsmart is scheduled to open in the fall, Mariano's in January, and the development still has 3,700 SF available. Gary says deals are still taking much longer to solidify (three to five years) and financing is available, but you'll have to work for it. Peter's agency leasing team has had some big wins recently, including leasing at Marina City and Century Shopping Centre at Clark and Diversey. Things are even more hectic at home, since he and his wife Lauren are expecting their third child in October. (They have a four-year-old, Honour, and a two-year-old, Finn.)
Affordable Housing Invesment Brokerage's Andrew Oehlerking, along with Syndicated Equities' Sam Mendelson and Jason Schwartz. Andrew's seeing high demand for Section 8 and Section 42 (LIHTC) apartment assets, even down to the tertiary markets. (Translation: It's a good time to sell.) This summer he's been exploring new neighborhoods by bike, playing basketball and beach volleyball, and dabbling in sailing. Syndicated Equities is currently closing its sixth deal this year, bringing total equity placement up to $38M, Jason tells us. It's targeting stabilized, income-producing properties, and Jason's noticed an uptick in 1031 trade activity as cap rates compress. He's got 10 weddings this year, so he's booked solid for the next three months (so much for vacation).
MB Financial Bank's Sarah Hunter, DBRS' Andrea Lange, MB's Matt Robertson, Fidelity National Title's TJ Cremeans, and Podolsky|Circle's Alissa Adler. Sarah says MB's commercial real estate group continues to be active in the Chicago area, pursuing all deal types for entrepreneurial and institutional investors. There's been little time to slip out of the office, but the MB team has been enjoying the occasional golf outing, and of course, the Schmooze.
JLL's Tana Strout and Kelsey Wills, along with JC Restoration's Fred Schroeder and IMG Technologies' James Fugate. Kelsey manages 231 S LaSalle, and tells us they're currently building a rooftop deck and fitness center, due to be completed at the end of September. Outside of work, she's been spending time at the beach, playing golf, and going to street festivals. Over at 111 W Jackson, Tana's team is starting demolition and building base work for a tenant expansion. Her summer activities: boating on the lake, concerts, and sporting events.
HSA PrimeCare's Olivia Wirth, with our trivia contest winner, HSA Commercial's Jennifer Olsen. (She sent in her top House of Blues show, the Counting Crows.) Olivia joined HSA PrimeCare six months ago, and she's recently been focused on leasing at Advocate Medical Campus Southwest in Tinley Park. She and Tim Stanton just closed her first deal in the building, a 10-year, 3,600 SF lease. Hobbies outside of work: traveling, reading, studying languages. Jennifer, a fan of kayaking and biking, has been marketing and researching industrial properties, namely two newly built HSA spec buildings (181k SF Park 355 Phase II in Woodridge and 219k SF Delany Commerce Center in Waukegan).
Cadillac Dave was the soundtrack to the Schmooze. Their website describes their sound as "if blues had a baby and they named it rock'n'roll." We most definitely agree, and have been getting our groove on this morning just thinking about it.
We ended the night upstairs at the House of Blues' ultra-hip, so very rockstar, and often debaucherous Foundation Room. (We kept telling ourselves that Axl Rose sat on that same couch. It's probably true, so don't ruin our moment.) The members-only top floor of the concert venue comes with all kinds of perks, and with the motto "a superior sense of wicked," some of them may be NSFN (not safe for newsletter). Stay tuned for more coverage tomorrow!