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October 20, 2020

This Week's Chicago Deal Sheet

[Webinar] Join Avison Young Chairman & CEO Mark Rose & Kraai Advisors Founder Karin Kraai To Hear How CRE Execs Are Supporting Employees Oct. 22

The Howard Hughes Corp. and Riverside Investment & Development opened their new 55-story office tower at 110 North Wacker Drive. It is the culmination of three years of work, and at 1.5M SF, it’s the second-largest Chicago office building delivered in three decades. 

This Week's Chicago Deal Sheet

The project was a collaboration with the leasing, design and construction teams of CBRE, Goettsch Partners and Clark Construction. “Through our collaboration with Riverside Investment & Development and Goettsch Partners, we’ve delivered on our vision to add to the iconic Chicago skyline with a building located on a historic site that…

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Origin Stories: K. Tyler's Winding Road To Interior Design Helped Her Become A Jack Of All Trades

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

The ranks of commercial real estate are filled with accomplished professionals who left successful careers in entirely different industries. Katawna Tyler is one of them. Today she is an interior designer and principal with Evanston-based Morgante Wilson Architects, but her roundabout experiences include time spent as a certified public accountant and then a decade as a high-end furnishings buyer. 

When Tyler (who typically goes by K. due to the difficulty many have in spelling her first name) decided on a more creative lifestyle, she found each professional stop along the way armed her with useful tools. Accounting provided a deep understanding of how businesses operate, and from the world of furnishings she learned how to negotiate and who the industry's big players are.

After getting a degree in interior design and joining Morgante Wilson, Tyler said all that background helped her handle clients and explain the business aspects of design, not simply how a certain room would look. That makes all the years spent sampling other professions time well spent.   

Origin Stories: K. Tyler's Winding Road To Interior Design Helped Her Become A Jack Of All Trades

Bisnow: How did you get introduced to CRE?Tyler: I had quite a few stepping stones to get to CRE. After studying accounting and taking a job out of college as a CPA, I ultimately shifted gears and started pursuing a career related to my longtime love of interior design, first…

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Want To Make More Money? Listen To These Nobel Prize Winners And Bring Transparency To Your Sales Process

 

When you sell a piece of real estate, are you using the process that will get the highest price possible? The work of two U.S. academics who last week won the Nobel Prize for economics suggests you almost certainly aren’t.

Stanford University’s Paul Milgrom and Robert Wilson won the prestigious prize for their work on auction theory and how the design of auctions can be changed to maximise the price paid for an asset. A close look at their research suggests the way real estate is typically sold in the U.S. and UK is not designed to get the highest price possible. And those weaknesses in the property sales process, in particular the lack of transparency, could be holding the growth of the sector back.

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Coworking Operators Leaning More On Daily Users To Boost Occupancy

Coworking operators have seen massive drops in business, as the coronavirus has prevented many from stepping foot into an office in months.

That has some operators shifting focus to more short-term users, including those who rent by the day, as a way to drive business during the pandemic. The shift may become a long-term fixture in the industry, experts say.

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