Taking the Market’s Temperature

What’s the Prognosis for Construction and Development in the Healthcare Space?

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  Jill Gewargis

  Vice President, Real Estate

  Northwestern Memorial HealthCare

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  Jay Heald

  Managing Partner

  Capital Healthcare Properties

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  Molly Phelan

  Molly is a partner in the Chicago Office of Siegel Jennings, a national property tax law firm. As a litigator and trusted advisor, she collaborates with Owners, Asset Managers, Acquisition teams and Tax Departments to identify, create and execute property tax reduction strategies. She becomes a member of her clients’ management team. Her goal is to maximize and protect the full potential of real estate assets, minimize related tax liabilities, and resolve disputes with tax authorities and government entities. Molly’s client experience ranges from family owned 1031 portfolios to national commercial investment funds, including special use properties such as hospital campuses to multi-million-dollar manufacturing facilities. Her comprehensive understanding of the commercial real estate market was developed in part through her time as a real estate broker in the Chicago area prior to starting her legal career. Molly regularly represents clients in hearings before review boards, local assessors’ offices, the Illinois Property Tax Appeal Board, and the circuit courts.

  Siegel Jennings

  Partner

  Molly Phelan

  Partner

  Siegel Jennings

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  Alex Katz

  Alex Katz develops healthcare facilities and hospitals using creative financing solutions and proven development approaches. As a Principal at Farpoint Development, he develops solutions that maximize value while enhancing the patient experience. With a track record of structuring and capitalizing over $500 million in real estate transactions spanning healthcare, retail, and office assets, Alex brings extensive finance and development expertise to every property type. His innovative approach to financing and development execution has delivered successful medical facilities, including converting a shuttered restaurant into a two-story Northwestern Medicine facility and reimagining a former banquet hall as an Advocate Health Care primary care center. Prior to joining Farpoint in 2022, Alex served as Managing Director at one of the nation's leading owners of healthcare real estate, where he led their capital markets strategy and institutional partnerships. His deep experience in structured finance, equity formation, and development drives his ability to align stakeholders. Beyond his professional work, Alex demonstrates his commitment to healthcare advancement through his support of neurodegenerative disease research, including his involvement with the Michael J. Fox Foundation and previous leadership of the Parkinson's Disease Research Society. He holds a BA in Political Science from Lehigh University and lives with his family in Chicago's River North neighborhood.

  Farpoint

  Principal

  Alex Katz

  Principal

  Farpoint

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  Michael Vinci

  Mike is the co-leader of Eckenhoff Saunders’ healthcare practice, bringing over 30 years of specialized experience in healthcare design, with a portfolio totaling $1 billion in completed projects. Throughout his career, Mike has dedicated himself to mastering the intricacies of healthcare environments, consistently helping his clients surpass their goals. His commitment to excellence is reflected in the enduring relationships he has built with leading institutions throughout the region.

  Eckenhoff Saunders

  Principal

  Michael Vinci

  Principal

  Eckenhoff Saunders

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  Craig Kos

  Craig Kos is the Co-Managing Principal of the BR+A Chicago Office, bringing over 25 years of progressive experience in systems design and management of complex engineering projects for healthcare, academic, and science and technology clients nationwide. His projects have ranged from renovation of existing specialty or outpatient facilities to design of new academic medical center acute care hospitals in dense urban environments.

  BR+A

  Co-Managing Principal

  Craig Kos

  Co-Managing Principal

  BR+A

• Moderator

  Steve Daunis

  SVP

  Richard

Building, Developing, and Designing The Modern Patient Experience

The composition of care facilities, and what's required to create them.

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  Allyson Hansen

  Allyson Hansen, MHA, CPXP has an extensive career leading complex healthcare organizations and ensuring they reach their potential in delivering high quality care while elevating the patient experience, improving operational efficiency and ensuring financial stability. As the CEO & Executive Director of the Illinois Medical District (IMD), Hansen leads with responsibility for strategic planning, vision, growth and daily operations. She is also tasked with fostering relationships and collaboration among partners and stakeholders across the 560 acre healthcare ecosystem. As the Chief Executive Hansen guides the District during a time of explosive growth and creativity, supporting a vibrant healthcare ecosystem that includes four anchor medical institutions and more than 40 health-related facilities. As a seasoned executive with over 20 years’ experience in academic, community and national healthcare systems, Hansen brings extensive experience in strategy development and execution, operational improvement and partnerships to the IMD. Hansen has the proven ability to successfully analyze an organization's critical business requirements, identify deficiencies and potential opportunities, and develop innovative and cost-effective solutions for enhancing competitiveness and improving performance. She moves easily from vision and strategy to implementation and follow-through, building in project management, accountability and managing for daily improvement practices to ensure goal attainment. Hansen developed expertise in planning and administering healthcare services across Chicago land at UChicago Medicine, Loyola Health System, UI Health and Advocate Health Care. Prior to joining the IMD, she was Managing Partner of The Red Penny Group, advising national healthcare systems, medical groups and investors on growth, integration, operations and strategic plans. Hansen holds a Master of Health Administration and Bachelor of Arts in Psychology from the University of South Carolina, and is trained in Lean Six Sigma, change management and is a certified Patient Experience Professional. She is trained in Co- Active Coaching and is a graduate of the Disney Institute for Healthcare Leadership. Hansen is an active volunteer and advises emerging leaders and supports their career growth in the Menttium corporate mentoring network. Hansen lives in west suburban La Grange, where she serves on the community advisory council of Lyons Township High School.

  Illinois Medical District

  CEO & Executive Director

  Allyson Hansen

  CEO & Executive Director

  Illinois Medical District

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  Marco Capicchioni

  VP

  University of Chicago Medicine

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  Kevin Schoolcraft

  With an entrepreneurial spirit and leadership experience in all facets of real estate development and construction, Kevin leads Ryan’s Great Lakes Region market growth and strategy as Vice President of Healthcare Development. He develops new and repurposed healthcare facilities in collaboration with health systems, physician groups, providers, owners and operators, as well as facilitates growth strategies through acquisitions, development, creative capital solutions and building services. Kevin is a strategic thinker known for exerting game-changing influence on investment strategy, deal sourcing, negotiation, and structuring of mergers and acquisitions. During his over 30 years in the industry, he has gained valuable insights as an owner, landlord, retailer, developer, investor, and investment portfolio manager, including unique expertise in the overlap of healthcare and hospitality. His strengths include strategic conceptualization, deal sourcing, negotiation and structuring of commercial real estate investment opportunities nationally. Kevin loves the challenge of taking a project from inception through completion, incorporating all facets of commercial real estate from site selection through design, construction and operational turnover.

  Ryan Companies

  VP, Healthcare Development

  Kevin Schoolcraft

  VP, Healthcare Development

  Ryan Companies

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  Brian Kane

  Brian leads Skender’s specialized Healthcare and Life Sciences market sectors, overseeing project teams responsible for various hospital, outpatient and laboratory projects. A veteran of Skender since 2008, Brian is well known for his contagious energy and commitment to quality, strategy and overall client experience.

  Skender

  Vice President

  Brian Kane

  Vice President

  Skender

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  Sheri Teymouri

  Sheri is a licensed architect with over a decade of experience, specializing in the planning and design of healthcare facilities. As a Health Planner at HDR, she has played a key role in delivering a wide range of transformative projects, from outpatient clinics to complex academic medical centers, shaping spaces that promote healing, innovation, and operational excellence. She is deeply committed to human-centered, evidence-based design, holding professional credentials including WELL AP and EDAC. Beyond practice, her passion for shaping the future of healthcare design extends to academia, where she leads HDR’s Graduate Healthcare Studio at the University of Illinois Urbana-Champaign, mentoring the next generation of healthcare architects.

  HDR

  Health Planner

  Sheri Teymouri

  Health Planner

  HDR

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  Kurt Lindorfer

  Kurt’s professional engineering career spans over 40 years. His expertise includes structural engineering design for Mission Critical Facilities such as Data Centers, Health Care Facilities such as Hospitals and Clinics and Life Sciences Facilities such as Biopharmaceutical Pilot Plants and Production Facilities around the United States and the World. His area of expertise is in designing buildings to be occupable after natural disasters including Tornados, Hurricanes and Earthquakes. He has been the structural engineer of record for conventional “fixed Base Buildings” ranging from 1-23 stories, “Base Isolated Buildings” ranging from 1-5 stories, and the retrofit and new construction of buildings incorporating Fluid Viscous Dampers ranging from 1-22 stories. He has published numerous papers on passive energy dissipation and presented the findings at various conventions in Boston, San Francisco and Milan. For over 23 years as the Founding Principal at PARADIGM Structural Engineers, Kurt spends most of his time developing new leaders at PARADIGM and mentoring staff in Chicago and San Francisco.

  PARADIGM Structural Engineers

  Founding Principal

  Moderator

  Kurt Lindorfer

  Founding Principal

  PARADIGM Structural Engineers

A Healthy Partnership

The best practices necessary and the work required to deliver care for communities in and beyond the city limits.

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  Dr. Michele Nealon

  President

  The Chicago School

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  Lilian Yool

  Senior Development Manager

  The Habitat Company

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  TJ Edwards

  Executive Director

  Illinois Capital Development Board

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  Frank Sanchez

  Senior Associate

  Syska Hennessy Group

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  Jed Richard

  Jed Richard, founder and CEO of Richard, combines his military discipline with entrepreneurial insight to revolutionize the construction industry. After serving three Tours to Afghanistan as an Airborne and Ranger Qualified Captain in the U.S. Army and working as a private contractor for the U.S. Department of State's Building Division, Jed launched his general contracting and construction management firm in 2014. Jed's experience touring VA hospitals exposed him to the urgent need for critical infrastructure improvements, contributing to his drive to pioneer a general contracting model built on speed, collaboration, and precision. This model has led Richard to tremendous growth. Now operating in 18 states, the company has managed nearly 200 contracts, all while maintaining a people-first, purpose-driven culture that avoided layoffs during the COVID-19 pandemic. Jed's leadership has positioned Richard as a leader in building innovative, essential infrastructure across the U.S. His core purpose—building to solve the world's greatest challenges—extends to his employees, with the company actively investing in their health and well-being. Through a commitment to solving complex building challenges, Jed has built a company that not only thrives but sets new standards in the industry. Jed was honored with the prestigious EY Entrepreneur of the Year 2024 award, recognizing his exceptional leadership and innovation in the construction industry. Under his direction, the company is the fastest growing construction company in the country, earning significant recognition. Richard achieved the #1 ranking for fastest growing AEC firm on Crain's Fast 50 and #16 overall in Chicago by Crain's Chicago Business. Additionally, Inc.'s Midwest Regionals ranked Richard #1 in Illinois in Construction and #34 in the Midwest for fastest growing companies. The company has secured top spots on Crain's Fast 50 and Inc. Magazine's list of Fastest Growing Companies year after year. Richard was also named one of Crain's Chicago Business and Inc. Magazine's Best Places to Work, a rare dual honor, reflecting its strong workplace culture and commitment to employee satisfaction.

  Richard Group

  Founder and CEO

  Jed Richard

  Founder and CEO

  Richard Group

• Moderator

  Kristen Farrah

  Lead Writer & Producer

  Radio Health Journal

Medical Office Buildings and Ambulatory Care

Designing and Structuring the Asset Class for Long Term Investment

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  Jon Boyajian

  As a principal of Echo Real Estate Capital, Jon is responsible for the firm’s strategic direction and manages the day-to-day operations for the company. Since founding the firm in 2015, Echo has acquired or is in production on over $400 million in healthcare, industrial, and retail properties across a dozen states. Jon has extensive experience in real estate development, finance, land assemblage, property acquisition, corporate real estate consultation, tenant representation, and leasing. Prior to founding Echo Real Estate Capital, Jon served as Vice President of Development for a privately held Chicago-based development firm where his list of preferred development clients included numerous national retailers and restaurants expanding throughout the Chicagoland MSA. Prior to that, Jon co-found a Chicago-based retail brokerage company where his list of clients included: McDonald’s USA, Dollar General, Verizon Wireless, Fifth-Third Bank, Save a Lot, Sonic, Anna’s Linens, True North Energy, Flexeon Rehabilitation, and Front Burner Restaurants. Jon began his commercial real estate career with a retail and hotel development firm and was involved in over 30 projects comprising 8+ million square feet of commercial space. Prior to his start in commercial real estate, Jon worked in the Indianapolis Division of Centex Homes – a Fortune 500 Production home builder based in Dallas, TX. Current Affiliations & Designations Illinois Licensed Real Estate Broker Member, Urgent Care Association of America Member, National Society of Certified Healthcare Business Consultants Member, International Council of Shopping Centers Member & Past Co-Chairman, Chicago ICSC Next Gen Planning Committee Member, DePaul Real Estate Alumni Alliance Guest Speaker, Panelist, Moderator – DePaul University & The Midwest Collegiate Real Estate Conference Guest Speaker, Student Mentor – Purdue University Daniels School of Business, Real Estate Education B.S., Management, Purdue University M.S., Real Estate, DePaul University

  Echo Real Estate Capital

  Principal

  Jon Boyajian

  Principal

  Echo Real Estate Capital

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  Jack Gavin

  EVP Investments

  Remedy Medical Properties

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  Brian Fry

  SVP

  Ventas

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  Will Germain

  Mr. Germain has senior responsibility for executing the overall strategy of the Company. His responsibilities include sourcing and originations investment opportunities, oversight of underwriting and due diligence, transaction structuring and execution, development project management, operations, and asset management. Prior to co-founding MCB Science + Health, Mr. Germain served as Senior Investment Officer, Investments for Ventas, Inc., an S&P 500 company and real estate investment trust that owns and manages healthcare, life science, MOB and senior living properties in North America and the United Kingdom. As a former member of the Ventas senior leadership team, Germain was responsible for investments within the growing university, life science, research and innovation center portfolio, the Company’s #1 capital priority. Since inception, Germain helped grow this portfolio to over $4 billion and over 7MM SF through acquisitions and developments. Responsible for originating, negotiating, and executing acquisitions and development opportunities, Germain has been involved in more than $20 billion completed real estate transactions during his tenure at Ventas. Germain joined Ventas in 2006. Prior to overseeing the university, life science, research, and innovation center platform, he served as Director of Acquisitions and Investments for Lillibridge Healthcare Services, a fully integrated medical office building (MOB) operating company, completing in excess of $4BN in transactions. His earlier roles at Ventas included asset management of the Company’s MOB and outpatient portfolio where he oversaw operations including joint venture partnerships, third-party property management, leasing, buildouts, loan compliance, operating and capital budgeting and financial reporting, as well as roles in acquisitions and corporate finance. He began his career at General Electric Capital Corporation in the Financial Management Program (FMP). Germain is a member of the Board of Directors of the Association of University Research Parks (AURP), a dynamic network of university research parks and innovation district industry leaders. He is a member of the Urban Land Institute’s University Development and Innovation Council. Germain is a member of the Real Estate Executives Council (REEC). He served as a member of the Board of Phase 1 Ventures (P1V) from 2016 to 2022, a program from the Philadelphia Science Center which matches proven entrepreneurs with academic scientists to help move ideas from the lab to the marketplace by strategically contributing expertise and funding to the commercialization process. He also served as a Steering Committee member for the Global Institute on Innovation Districts (GIID) from 2019 to 2022. He serves as Vice President of the Board of High Jump, a non- profit organization that aims to equalize access to education for Chicago middle school

  MCB Science & Health

  CEO

  Will Germain

  CEO

  MCB Science & Health

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  Will Follett

  Will Follett is the Senior Producer for Bisnow's Midwest market, where he oversees content and strategy for 40+ annual programs aimed at connecting and advancing the commercial real estate industry. He previously worked at GovExec, the largest B2G marketing and events platform for public sector leaders. A New England native turned longtime Midwesterner, he holds a degree in political science from Drake University and lives in Chicago where he enjoys the city's restaurant scene and the occasional triathlon.

  Bisnow

  Senior Producer

  Moderator

  Will Follett

  Senior Producer

  Bisnow

Remarks from the Podium

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  John Bernatz

  John brings over 20 years of executive corporate real estate management expertise, with a strong track record of building successful strategies for clients in complex real estate environments. As the VP of Business Development at Shaw Industries, John works closely with strategic financial equity clients to develop long-term strategies that address capital renewal needs across intricate portfolios. His ability to navigate the complexities of healthcare and senior living real estate, combined with a focus on cost management, sustainability, and operational efficiency, ensures tailored solutions that meet both client objectives and market demands. John’s extensive experience includes leadership roles at CBRE, where he gained global expertise across multiple industry sectors, Terwilliger Plaza as the VP Operations for 1,000+ resident community and skilled nursing facility, and Oregon Health Sciences University, where he managed over 3 million square feet of complex academic and research facilities and infrastructure. His diverse background also encompasses manufacturing, product development, and hospitality, all of which inform his unique approach to real estate strategy. This breadth of experience is built on the foundation of being a noncommissioned officer in the US Army as a decorated combat medic and trauma nurse deployed to multiple combat zones. This enables John to deliver creative, people-first solutions that drive lasting business results. Beyond his professional achievements, John enjoys exploring the Pacific Northwest and traveling the globe with his wife, Dyann, savoring food and wine from around the world.

  Shaw Industries

  VP

  John Bernatz

  VP

  Shaw Industries