CREW's Chicago Chapter recently held its monthly luncheon at East Bank Club, featuring UIC's Dr. Rachel Weber talking about why we overbuild and boom cycles. The most recent "Millennial Boom" (1998-2008) was characterized by adaptive reuse and an acquisition surge (87% of Chicago office buildings traded at least once during that period), she says. Our overzealous groundbreaking has two drivers. On the demand side: Building users' increasing and changing their preferences. (They need more outlets!) On the supply side: A surplus of capital is searching for yield when other investments show decreasing returns. Pictured: V3 Cos' Margie Lathrop, Rachel, and The Tammen Group's Jennifer Tammen.
Tom Thibodeau's kindergarten teacher referred to him as "Sir." marissa.oberlander@bisnow.com
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