Conditions of the Chicago Real Estate Market

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Notes

The key points in the presentation relate to current market conditions for appraisals for industrial, hotel, multi‐family, office, and retail properties, along with current information from the government and economics sectors for use in appraisals.

Approved for 7 hours in IL and IN.

The seminar begins at 8:30 and registration will open at 8 am.

Additional Information

Government Forces – Current Conditions. Speaker:  Charles Franklin from Franklin, Greenwag, Channon and Capilla. This section will outline Chicago zoning and land use trends, from the Fulton Market District to neighborhood business zones.  This section will explain current public policy goals in zoning and how the desires of different market actors are being balanced through the use of zoning controls.  This section will illustrate the use of planned development as a tool in zoning.

Chicago Hotel Real Estate Market – Current Market Conditions. Speakers:  Ted and Ric Mandigo from TR Mandigo & Associates. This section will outline current conditions in hotel submarkets around Chicago, including the current trends in demand segmentation, RevPAR, average daily rates, supply and demand for hotel real estate, current development, and financing parameters. This section will provide case studies of sales, and will discuss the impact of government and economic forces on hotel real estate.

Chicago Multi‐Family Real Estate Market – Current Market Conditions. Speaker:  Ralph DePasquale from Bekadia. This section will outline current conditions in multi‐family submarkets around Chicago, including the current trends in the types of households currently being established in rental projects, supply and demand for multi‐family real estate, current development, and financing parameters.    This section will explain current trends in deconversions of condominium projects to rental projects, the use of opportunity zones and investments on the south side of Chicago, trends in city core and suburban submarkets, and views on Chicago from the institutional investment market. This section will provide case studies of land sales, rentals, and sales, and will discuss the impact of government and economic forces on multi‐family real estate.

Economic Forces – Current Conditions. Speaker:  Peter Berstein from RCF Economic & Financial Consulting.  This section will outline current conditions in the economy as they affect real estate in Chicago, including job creation, trends in disposable income, consumption patterns, the rise in e‐commerce, the distribution of new business openings by industry, trends in capital investment, and a forecast for the rest of 2019.

Chicago Retail Real Estate Market – Current Market Conditions. Speaker:  Meredith Oliver and Danny Jacobson from CBRE. This section will outline current conditions in retail submarkets around Chicago, including the current trends in the types of retail businesses currently being established in different neighborhoods, supply and demand for retail real estate, current development, and financing parameters.    This section will explain current trends in CBD retail development and the expansion of the CBD to include zones outside the traditional core. This section will provide case studies of land sales, rentals, and sales, and will discuss the impact of government and economic forces on retail real estate.

Chicago Self Storage Real Estate Market - Current Market Conditions.  Speaker:  Marc Boorstein from MJ Partners Self-Storage Group.

Disclaimer Information

*Speakers are subject to change.

100% attendance is required to receive state CE.

National Disclaimer

This Educational Program was developed and organized by the Appraisal Institute Chapter offering the Program with the intent of addressing topic(s) of current local interest solely for educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.