In This Issue
Recruiting Underway for Second ULI Chicago Cohort MSRE Class
Panelists Discuss Career Paths in CRE
Bringing the Real Estate Industry to the Classroom: Winter Guest Lecturers
The Real Estate Center & Chaddick Institute Host Annual Joint Conference
Recruiting Underway for Second ULI Chicago Cohort Class to Begin Fall Quarter 2018

In January of 2017,The Real Estate Center partnered with the ULI Chicago Chapter to launch the first ULI Chicago Cohort Masters of Science in Real Estate program.  The first class will be graduating this June, so the Center is in the early stages of recruiting students for the second cohort which will begin in the Fall 2018 Quarter.  Students enrolled in the ULI Chicago Cohort must be members of ULI Chicago and will receive a 25% tuition discount, are not required to take the GMAT and will work through the program with the same network of students in each class and will thereby complete the program with an existing professional network.  

We asked the current cohort to reflect on their experience with the program and received the following feedback:

This program enables students to become acquainted on a deeper and more enriching level than would be possible in the typical rotating curriculum environment.  Mary Ann Andersen, Executive Committee Member, DWG Corporation

Within 12 months, I was offered and accepted a position that I never thought I would have been qualified for until I started my education at DePaul.  I expect that dividends such as this to pay off for rest of my life.  
Chris Neumann, Debt Associate, Origin Investments

The program definitely has a Chicago-focus, through guest speakers and professional resources, which I think will be extremely beneficial to my career here in the city.  
Molly Rutkowski

Along with the fundamental skills I obtained from the program, the courses also exposed me to the technical software that is widely used in the industry, such as Argus, CoStar, and Site to Do Business.   Dan Ruzich, Associate, First Capital Advisors

  If your interested in launching your career in commercial real estate, sign up to attend our next information session on  April 17th from 5:30-6:30pm at DePaul University, 1 E. Jackson Blvd.
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Panelists Discuss Career Paths in Commercial Real Estate

On Wednesday, February 21st, the Real Estate Center partnered with the DePaul Real Estate Alumni Alliance (DREAA) and The Goldie Initiative to host an interactive panel discussion with real estate professionals who shared their stories about landing in the real estate industry, the importance of building a professional network and the skill sets that have helped them succeed in commercial real estate.

Panelists, Stephanie (Matko) Chrisman (BSC '04, MBA '10), Vice President-Asset Management, Pearlmark; Jillian Haynes, Manager Corporate Sustainability, HSBC Bank USA and Christina Maksimovic (BSB '13), Senior Associate-Acquisition, Heitman participated in the discussion moderated by Sue Marshall, President of Marshall Communications.  

A favorite question Marshall asked was, "What advice would you give to your younger self?"  Responses included encouraging students and those early on in their careers to take advantage of networking events (like this one) so you can begin to build professional connections that last; don't be afraid to ask questions of those who are already well established in their careers--we have all been beginners and appreciate the opportunity to share what we've learned; and take advantages of the resources that your school provides: talk to your teachers, get to know the staff and apply for scholarships!

Bringing the Real Estate Industry to the Classroom
Chicago's vibrant real estate community provides a valuable resource to students pursuing a career in the field.  Each quarter, faculty members incorporate presentations from practitioners to bring real world relevance to the classroom.  The Winter quarter's guest lecturers include:

January 18th: Real Estate 354  Valuation
Peter Caruso, Senior Vice President of Jones Lang LaSalle and a DePaul alum presented a case study opportunity for the class - a unique redevelopment site at the corner of Ogden and Roosevelt in the prime Chicago medical district, a 560-acre designated district which features four world-renowned hospitals and two universities. Located less than three miles from Chicago's Central Business District, this redevelopment site is a prime candidate for retail and/or medical use with convenient drive-through access. He provided valuable insights on careers in real estate, establishing long term relationships with landlords, tenants and brokers and explained the lease-up and development process.

January 24th: Real Estate 535 Institutional Real Estate Investment
John Kite, Chairman and CEO of Kite Realty Group and David Lazarus, Managing Director at Eastdil Secured, discussed REIT operational and key investment metrics in light of today's challenging retail environment. In addition, student teams presented individual analyses of potential REIT mergers and acquisitions including their recommendation either to pursue or not to pursue an individual merger opportunity. The students answered questions posed by Mr. Kite and Lazrus concerning the analysis.

January 29th: Real Estate 530 Real Estate Investment & Finance
Sue Blumberg, Senior Vice President and Managing Director of NorthMarq Capital, was the guest lecture in Professor Steve Bell's RE530 Real Estate Investment and Finance on Monday, January 29, 2018. Ms. Blumberg, a DePaul alumnus, presented an overview of the mortgage banking business and explained the various underwriting practices in the marketplace with a particular focus on the multifamily asset class.

February 1st: Real Estate 354 Valuation
John Oharenko, Senior Vice President of Berkadia  and a DePaul alum presented a historic overview of mortgage rates and explained current commercial loan underwriting practices in the marketplace. Using net leased and multi-family examples, he explained how loan-to-value and debt service coverages come into play in today's lending environment and shared with us the importance of the real estate valuation process in loan underwriting. With a career spanning over three decades, John's insights on real estate cycles and lending was insightful.

January 31st: Real Estate 535 Institutional Real Estate Investment
Shauna Dills, Senior Vice President in Heitman's Client Service and Marketing Group visted Dr. Wurtzebach's Institutional Real Estate Investment class. A graduate of DePaul's MBA program with a concentration in Real Estate Finance and Investment, Shauna discussed the role of Real Estate Investment managers as they represent Institutional Real Estate Investments such as pension funds and make critical investment decisions. Her comments included reviewing the role of real estate in an institutional investor's portfolio and the development of fund strategies to meet their needs.

February 27th: Real Estate 350 Real Estate Analysis
Mr. Matt Lucas of Sterling Bay, 
has over 12 years of development and project management experience in commercial real estate. His captivating lecture walked students through the entire development process, from site selection to financial underwriting. Additionally, Mr.Lucas gave very helpful tips on industry networking and best practices for securing a career. He is currently working on commercial projects in the downtown CBD of Chicago.

The Real Estate Center and Chaddick Institute Host Annual Joint Conference

Each year, the Real Estate Center partners with the Chaddick Institute to host a conference on a topic that appeals to real estate investors, urban planners, city officials and public agencies.  The title for this year's conference was: 

When Tenants Take a Fall: The Adaptive Reuse of Vacant or Underperforming Real Estate

More than 100 registered guests attended the annual conference on January 26th. Featured speakers, Chris Brewer, Vice President, AECOM Economics; Andrew Hochberg, CEO, Next Realty and Next Parking; Stephanie Phifer, Director of Planning, City of Aurora; and Paul Shadle, Partner, DLA Piper, covered a particular topic addressing their view and/or connection to the broader topic, Adaptive Reuse of Underperforming Real Estate.
  • Brewer's presentation documents research and statistics on the plight of retailing (and retailers) and how it is impacting communities
  • Phifer's presentation gives an overview of the efforts, issues and challenges of remaking and repositioning the town's 43-year-old, 1.5 million-square-foot mall into an asset that meets today's community needs
  • Shadle's presentation addressed many of the planning and zoning issues that communities, developers and owners face as they look to make a difference, and a healthy return, on adaptive reuse initiatives

Join the Conversations on the Real Estate Center Social Networking Websites

You no longer have to wait for our monthly newsletter to be up to date with the Real Estate Center.  The Real Estate Center has recently joined the social networking movement on both Facebook and LinkedIn.  Join these groups to receive up to the minute information about the Real Estate Center. 

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Sustaining  Sponsors
Endowment Funds
Susanne Ethridge Cannon Endowed Scholarship Fund

Chicago Commercial Real Estate Industry Endowed Scholarship Fund

Douglas & Cynthia Crocker Endowed Director of the Real Estate Center

Douglas & Cynthia Crocker Real Estate Endowed Scholarship 
Michael J. Horne Endowed Real Estate Scholarship 
Kenneth McHugh Real Estate Endowment

George L. Ruff Real Estate Studies Professorship

Robert & Howard Weitzman Endowed Scholarship

Charles H. Wurtzebach & Susan M. Marshall  Endowed Scholarship
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