2018 Readership
MEDIA PLANNER2018
journals.comRE
2018 Media ReadershipThe Illinois Real Estate Journal is the only community newspaper for the local commercial real estate industry. Each issue provides comprehensive coverage of the deals that have happened and insight on the trends shaping deals about to happen.
Our 15,000+ Readers Include:
The Appraisal Institute Association of Industrial Real Estate Brokers (AIRE)Association of Subcontractors and Affiliates (ASA)Building Owners and Managers Association (BOMA)Certified Commercial Investment Members (CCIM) Chicago Building Congress (CBC)Commercial Real Estate Executive Women (CREW)Commercial Real Estate Organization (CREO)Corporate Real Estate Network (CORENET)Counselors of Real Estate (CRE)Hotel/Motel Brokers of America (HMBA)Illinois CPA Society (ICPAS)Illinois Development Council (IDC)Illinois Mortgage Brokers Association (IMBA)
Institute of Real Estate Management (IREM)International Association of Attorneys and Executives in Corporate Real Estate (AECRE)International Council of Shopping Centers (ICSC)International Facility Management Association (IFMA)Leading Lawyers NetworkNational Association of Industrial and Office Properties (NAIOP)National Association of Real Estate Investment Trusts (NAREIT)National Multi Housing Council (NHMC)Northern Illinois Commercial Association of Realtors (NICAR)Pension Real Estate Associatoin (PREA)Real Estate Investment Association (REIA)Society of Industrial and Office Realtors (SIOR)Urban Land Institute (ULI)
Our readers include members of the following major industry organizations and associations:
2018 Editorial CalendarEditorial Contributions to IREJEmail our editor, Dan Rafter at [email protected] with industry news and trends; new hires or promotions; sales and leases, and up-coming events. In addition to appearing in print, news will also appear at www.rejournals.com and will be distributed via broadcast email every Wednesday and Friday. For byline article submission and direc-tion please contact the editor prior to writing the article. All articles must be exclusive to IREJ. All art and photography attachments should be 300 dpi pdf or jpg files (see advertising specifications).
Editorial attachments are preferred as Word documents. Please do not embed photos in copy. Deadline for bylined articles: 2nd Friday of the month for consideration in following month’s edition.
For editorial direction, please contact: Dan Rafter, editor, p 630.444.0477, [email protected]
The Illinois Real Estate Journal is the
only community newspaper for the
local commercial real estate industry.
Each issue of IREJ covers the hottest
topics and trends pertaining to a
specific commercial real estate sector.
The geographic focus gives an in-depth
look at major markets throughout
Illinois, highlighting the important
stories and trends in each area.
Company Profile: An in-depth look at
commercial real estate firms making
an impact in Illinois. Whether it is
corporate giants, successful private
firms, or new ventures, we highlight
firms with a unique story to tell.
Professional Profile: A look at a
successful commercial real estate
professional, highlighting the reasons
for the person’s success.
Development Profile: The Illinois Real
Estate Journal gets the story behind
marquee developments and examines
what makes them a success.
Q&A: The editor of the Illinois Real
Estate Journal often sits down with a
highly successful professional with a
unique story to tell.
News Briefs: Our Briefs sections
highlight the deals and dealmakers
that make the commercial real estate
industry such a vibrant business.
Weekly eBlast: Every Wednesday
and Friday, the Illinois Real Estate
Journal sends its weekly eBlast to
approximately 13,000 subscribers. The
eBlast is filled with the latest breaking
February Multifamily, Healthcare, Finance, Construction Trends
3/16
5/18
7/20
1/26EAST-WEST CORRIDORRE Attorneys/Appraisers, Brokerage Firms, Architecture & Design Firms, REITs
ISSUE EDITORIAL FEATURE AREA FOCUS/DIRECTORIES
AD CLOSE/ ART DUE
April Office, Green/Sustainable, Industrial, Student Housing I-39 CORRIDOREDCs, CRE Finance, Environmental/Engineering Firms, Construction Companies
JuneRetail, Senior Housing, Hospitality KANKAKEE, I-55
Asset/Property Management Firms, Contractors, Demolition Companies, Architecture/Design-Build Firms
AugustMultifamily, Industrial, Property Management, Construction Trends, Finance
SOUTHEAST WISCONSIN, I-80Environmental/Engineering Firms, Construction Companies, Asset/Property Management
October
December
CHICAGO, NORTHWEST INDIANADevelopers, CRE Finance, RE Attorneys/Appraisers, Brokerage Firms, Healthcare MOB
Office, Affordable Housing, Retail
9/21
11/16Industrial, Legal Issues, Finance
O’HAREAnnual Resource Guide
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John Mickey Senior Account Executive 312.644.6942 [email protected]
Susan Mickey Account Executive 773.575.9030 [email protected]
Ernest Abood Advertising Director 312.644.7119 [email protected]
Mark Menzies Publisher 312.644.4610 [email protected]
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John Mickey Senior Account Executive 312.644.6942 [email protected]
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Mark Menzies Publisher 312.644.4610 [email protected]
Contact your sales rep for additional advertising packages and frequency discounts.
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DUE 1/29
Construction Companies
Asset/Property Management
CRE Finance
EDCs
Midwest Real Estate News
Illinois Real Estate Journal
Chicago Industrial Properties
FEBRUARY ISSUE APRIL ISSUE JUNE ISSUE AUGUST ISSUE OCTOBER ISSUE DECEMBER ISSUE
FEBRUARY ISSUE APRIL ISSUE JUNE ISSUE AUGUST ISSUE OCTOBER ISSUE DECEMBER ISSUE
MINNESOTA | MISSOURI | NEBRASKA | OHIO | TENNESSEE | WISCONSIN
THE DAKOTAS | ILLINOIS | INDIANA | IOWA | KANSAS | KENTUCKY | MICHIGAN
W W W . R E J O U R N A L S . C O M
V O L U M E 3 0 I S S U E 1 5J U L Y 2017
Directories begin on page 28: CONSTRUCTION COMPANIES ECONOMIC DEVELOPMENT CORPORATIONS FINANCE
Amazon, Whole Foods and the challenge of urban industrial and last-mile deliveryBy Dan Rafter, Editor
FEATURE: FINANCE
FEATURE (continued on page 14)
FEATURE (continued on page 8)
Amazon’s recent purchase of Whole Foods Market gives the e-commerce giant a foot-hold in the grocery business, one of the few retail sectors that the online giant doesn’t yet dominate. But gaining control of 431 Whole Foods stores across the country serves another important function, it helps the company resolve the ‘last-mile’ challenge of delivering fresh food to its customers.
The last-mile is an important one, of course. It’s that last bit of delivery space between a retailer and its customer base. The last-mile challenge has long been a tough one for the delivery of fresh food. Vegetables, meats and fruit must be delivered as quickly as possible.
By nabbing Whole Foods stores, Amazon can use these locations as important cogs in last-mile delivery. Customers can order their fresh food online, and then Amazon can send the groceries quickly from one of its newly bought Whole Foods grocery stores.
The Amazon buy impacts every Midwest state that has a Whole Foods store. Missouri is a good example: The state has three Whole Foods stores in the Kansas City area and three in the St. Louis region.
“E-commerce is pushing so much of the demand for industrial activity in our market today,” said Joe Hill, senior vice president with the St. Louis office of Colliers Interna-tional. “The activity we are seeing, though, is not so much on the manufacturing side, but on the distribution side. It is mostly involving distribution centers.”
And like in most major cities, companies operating in the St. Louis region are, like Amazon, looking for solutions to the last-mile delivery challenge, Hill said.
I t’s no real surprise: Multifamily is the asset class that is most responsible for the steady business that commercial fi-nancing companies are enjoying today.
But there’s more to the story. While apartment de-velopments, acquisitions and refinances are gener-ating a still-growing stream of financing requests, commercial finance companies are also seeing plenty of business from other asset classes, most notably industrial and retail.
It adds up to a strong market for commercial financing providers, many of which are closing re-cord-high amounts of business.
The best news? The commercial financing pros who recently spoke to Midwest Real Estate News pre-dict that the financing business will remain strong for years to come.
THE MULTIFAMILY BOOMLike others in the commercial financing business, Jim Cope, executive vice president and managing director in the Milwaukee office of Walker & Dun-lop, says that requests for multifamily loans are keeping his company busy today.
Cope said that the pace of multifamily acquisitions had been slow earlier in the year. But now that end of the business has picked up. He said that the recapitalization end of the business is now a strong one, with long-term investors recapitalizing
Multifamily still commercial financing star, but other assets offer opportunities, too By Dan Rafter, Editor
Multifamily continues to generate steady business for commercial financing companies.
There’s been a steady increase in renter households the past several years, and multifamily construction has reached the highest levels since the 1980s, ac-cording to a report from FreddieMac. In Chicago,
vacancy rates are expected to remain tight this year, which will boost rental-income growth expectations.
That means developers and investors are looking for cre-ative ways to enter the multifamily market—one being condominium deconversions. The positive outlook for multifamily this year comes at a time when condos built in the ‘70s and ‘80s are starting to age, and associations might be considering a sale instead of making updates.
Some recent condo deconversions include a 101-unit Buena Park property at 732 W. Bittersweet Place for $16.2 million, 133-unit Clark Place at 2625 N. Clark St. for $35 million and, one of the largest deals to date, the 207-unit Bel Harbour at 420 W. Belmont Ave. for $51.5 million. Several other condos such as 268-unit Kennelly Square, 150-unit Park View Tower and 293-unit Century Tower could also be turned into apartments.
Condo deconversions are known to be incredibly com-plex and time-consuming. In order to purchase a condo building, the buyer must get 75 percent, sometimes more, of owners to agree to the sale. That means finding and contacting all the owners, who might not even occupy the unit, and making sure they are comfortable with the offer.
ut of the country’s major metro areas, Chicago has the fifth-highest construction costs, according to a report from JLL. National trends such as rising costs for materials
and pockets of labor shortages only add zeros to the bottom line. But for companies battling it out to attract the best employees, rising construction costs are worth it when you end up with an im-pressive, enviable workspace.
Chris Novak, senior vice president at Leopardo, said a lot has changed in construction since he joined the firm nearly 27 years ago. Novak leads Leopardo’s commercial interiors group and main-
MULTIFAMILY (continued on page 13)
VOL.17 NO.28 ©2017 LAW BULLETIN PUBLISHING CO. AUGUST 2017
CONSTRUCTION (continued on page 9)
DIRECTORIES (pg.15): DEVELOPERS LAW FIRMS MULTIFAMILY FINANCE
O
Construction costs rise as companies compete for enviable office space with custom build-outs By Sara Freund, Staff Writer
PRSRT STDU.S. Postage
PAIDTWIN CITIES, MN
PERMIT NO. 31515
Chicago condo deconversions trending, signals multifamily hotter than ever By Sara Freund , Staff Writer
A rendering from The Kent, formerly Clark Place condominiums, which was purchased by Strategic Properties in a condo deconversion deal.
orthwest Indiana has long been a refuge for industrial users seeking lower land costs, a strong labor force and a respite from the higher taxes across the border in Illinois. And economic development offi-
cials in this slice of Indiana say that the industrial market here is only getting stronger.
There's evidence of this taking place now in the North-west Indiana town of Michigan City. In mid-May, Holla-day Properties began construction of the Haskell Build-ing, a 64,000-square-foot speculative light industrial
building. The building is part of the Ameriplex-Marquette business park now under construction in Michigan City.
During a ground-breaking for the building, Mike Micka, vice president of development for Holladay Properties, praised Michigan City officials for their pro-business stance and for the efforts they made to attract a develop-ment such as his company's business park.
VOL.27 NO.27
J U N E 2 0 1 7
THE LEADING NEWS SOURCE FOR INDUSTRIAL REAL ESTATE PROFESSIONALS & USERS
INDUSTRIAL (continued on page 14)
PRSRT STDU.S. Postage
PAIDTWIN CITIES, MN
PERMIT NO. 31515
By Dan Rafter, Editor
N
DIRECTORIES (pg.18): Top Developers, Green/Sustainable Firms, RE Law Firms
GREEN (continued on page 9)
Warehouses, factories and distribution hubs don't conjure up images of green design. At least not yet.
Green building has advanced way past grass on a rooftop. New technology, lighter soil and innovative ways to utilize rooftop space could help the industrial sector adopt sustainable design.
Office buildings, retail and luxury apartment towers haven't had a problem going green—city hall, the Rock n’ Roll McDonald's and the Aqua Tower are all examples of this. But industrial buildings are different. Dirt can get heavy, and the roof on top of a 500,000-square-foot facility might not be built to support the weight of a garden, which can reach up to 50 pounds a square foot. Other hurdles include affordability, extra planning effort and older structures being unable to accommodate extra weight.
As technology advances, some of those prob-lems get solved. OMNI Ecosystems, a company that creates living infrastructure, has developed an extremely light and biodiverse growing me-dium, called Infinity Media. If you're wondering how you make dense dirt lighter, OMNI Founder and chief executive officer Molly Meyer simpli-fies the explanation by likening the process to a popcorn maker. All the same material is there; it's just popped with air so that per square foot it weighs as little as 15 pounds.
The lighter soil can grow everything from lawns, flower fields, veggies and even small apple trees. The plant index from The Roof Crop, which farms and maintains roofs from OMNI Ecosystems, lists five varieties of broccoli, two kinds of kale, six types of tomatoes and more obscure greens like Pak Choi and Mizuna. OMNI Ecosystems just harvested its own roof-top this spring that grows specialty greens for James Beard-nominated Momotaro on Ran-dolph Street.
Innovation could help industrial sector embrace green designBy Sara Freund, Staff Writer
Northwest Indiana industrial market attracting more users into more communities
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FEB/MAR ISSUE APR/MAY ISSUE JUN/JUL ISSUE AUG/SEPT ISSUE OCT/NOV ISSUE DEC/JAN ISSUE
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Developers
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