Integrated Design with Kapil Khanna, CEO of Lamar Johnson Collaborative

On this episode of Real Estate for Breakfast, host Phil Coover and guest Kapil Khanna, CEO of Lamar Johnson Collaborative (LJC), discuss some of the design challenges that the architecture firm faces in a changing world. As part of an integrated design practice with its parent company, Clayco, a full-service, turnkey real estate, architecture, engineering, design-build and construction firm, LJC has a competitive advantage in its understanding of the intersections between design and construction.

In addition to discussing LJC’s background and overall design process, Phil and Kapil also talk about the many challenges that have arisen in the architecture industry due to the pandemic. Specifically, they discuss the supply chain and how LJC’s scale allows the company to prioritize and plan strategically to navigate the ever-changing world.

Kapil also explains the concept of resiliency planning, which includes anticipating a building’s capacity to adapt to changing conditions and to maintain or regain functionality in the face of stress or disturbance. Along with sustainability, resiliency planning is another important design parameter, and Kapil shares examples of designing vertical agriculture and massive 40 acres greenhouses.

Since the year is winding down, Kapil also takes the time to reflect on some of LJC’s recent projects, such as a Macy’s Flagship store, Pfizer’s Midwest headquarters and Fulton East, a newly constructed 12-story office and retail building. He says LJC is optimistic about 2023, especially as industrial projects are increasingly in demand.

As CEO of LJC, Kapil Khanna focuses on overall firm management. A member of the executive leadership team, he is responsible for providing direction for both the business strategy and the implementation of initiatives to support the firm’s growth. Kapil works across all disciplines of the enterprise to seek out opportunities for greater alignment and integration, and to make positive impacts on the firm’s most complex projects.

A veteran of the design industry, Kapil has provided project management on some of the region’s largest and most complex projects for healthcare and academic systems, including Cook County Health & Hospitals System’s Stroger Hospital Central Campus, University of Chicago Medicine Center for Care and Discovery Parking Garage, Orange Regional Medical Center Outpatient Care Center and Cancer Center Expansion; as well as extensive projects with higher education and healthcare facilities across the U.S. prior to joining LJC.

Real Estate Development Strategy in a Changing Market and Avoiding “the Dumb Tax,” with Chris Coleman of Wingspan Development Group

Vice President of Development for Wingspan Development Group Chris Coleman says that the privately owned real estate company is more of a “developer with a general contractor in-house,” than a traditional developer.  That vertical integration gives Wingspan a differentiator in the market.  Currently focused on multifamily and mixed-use developments in Northern Illinois, Southeastern Wisconsin and Central Florida, Wingspan is now seeking to expand into the Greater Phoenix, Greater Denver, and Greater Atlanta markets.

On this episode of Real Estate for Breakfast, host Phil Coover and Chris Coleman discuss Wingspan’s real estate development strategy, how the company differs from other developers, and some of the group’s most successful projects. Additionally, they discuss how Wingspan is navigating the current real estate climate and how Chris and other company leaders chose which new markets to target. Chris explains that the Phoenix, Denver, and Atlanta markets are all areas that he himself or the group’s Director of Development, Jason Macklin, are personally familiar with, and that is what gives Wingspan comfort in moving forward in those regions. Chris refers to this concept as the group’s way of avoiding “the dumb tax,” or losing money by naively developing in areas that the local operators have passed over due to local knowledge of a development challenge.

Chris also discusses the group’s formation, and how it grew out of its sister company, Nicholas & Associates. As a family-owned business, Chris points out that Wingspan can be selective about its deals, and that patience can sometimes give it an advantage over traditional development companies. Overall, Chris says, Wingspan’s number one priority is to protect the family and execute good projects.

As Wingspan’s Vice President of Development, Chris is responsible for all of the company’s lines of business, including development oversight, fostering new debt and equity relationships, and implementing Wingspan’s overall strategic plan. 

Prior to joining Wingspan, Coleman served as Chicago Division President for William Ryan Homes, Inc. Chris first began his career in real estate in 1988 as a market analyst with The Zale Group.

After spending time in Florida and Georgia, Coleman returned to Chicago in 1997 to launch his own firm specializing in in-fill redevelopment. He joined Wingspan Development Group in 2017.

Learn more about Wingspan Development Group here: https://www.wingspandev.com/.

Building-For-Rent in Chicago with Steel City Management

On this episode of Real Estate for Breakfast, host Phil Coover and his co-host Jay Augustyn chat with Brett Holmes and Andrew Dealy, co-founders and managing partners of Steel City Management (SCM), a Chicago-based boutique investment company that develops and manages real estate projects for high net worth individuals and institutional investors. Founded in 2015, SCM identifies innovate investment opportunities that generate sustainable, risk-adjusted return for its investors.

On the podcast, Brett and Andrew discuss their backgrounds and initial forays into real estate investment, sharing lessons learned from hands-on ownership and management of multi-family assets in Chicago.  Brett and Andrew then describe the evolution of SCM’s capital deployment strategy, focusing on investments in single-family residential rental community development. The single-family residential rental product is increasingly popular with individuals and families across generations who increasingly value flexibility but demand high-quality living spaces and amenities typically associated with home ownership. Brett and Andrew describe in detail the successes earned and challenges overcome with their most recent single-family residential rental investments in the suburbs of Minneapolis, MN and Nashville, TN. They also share their outlook for the future of single-family residential rental development and those markets that are ripe for that product.

Brett Holmes has more than 13 years of real estate investment experience. His investment experience includes luxury rehab, value-add multifamily, ground-up single family rental and multifamily development. Brett’s skills include real estate financial modeling, deal structuring, equity syndications, investor relations and capital raising. Brett also has a decade of interest rate futures trading experience at the Chicago Mercantile Exchange and Board of Trade, where he specialized in financial modeling, trade execution, and portfolio risk management.

Brett volunteers as a Board Member of Autism Speaks to Young Professionals in Chicago. He earned a B.S. in Business Administration from Carnegie Mellon University where he played varsity soccer.  He also completed the Commercial Real Estate Investment Course at MIT’s School of Architecture & Planning.

Andrew Dealy has more than 12 years of real estate investment experience. This experience includes value-add multifamily contracting, single family rental development, deal initiation, property management, investor relations and capital raising. Andrew has nine years of securities trading experience on trading desks and in the open outcry markets at the Chicago Board of Trade (CBOT) and Chicago Board Options Exchange (CBOE), specializing in trade execution, deal flow, and portfolio risk management.

Andrew holds a B.A. in Political Science from Yale University where he played varsity soccer.

Learn more about Steel City Management: www.steelcitymgmt.com/.

The State of Chicago’s Multifamily Market in 2021 with Noah Birk and Aaron Sklar, Kiser Group Partners

On this episode of Real Estate for Breakfast, host Phil Coover is joined by Noah Birk and Aaron Sklar, partners with the Kiser Group and two of the highest-grossing brokers of multifamily housing in Chicago. Phil, Noah and Aaron discuss the state of the multi-family market in 2021, as well as how COVID-19 and other events in 2020 impacted the market.

Noah Birk focuses on the disposition of apartment buildings on the South side of Chicago and is Chicago’s highest producing multifamily broker. Since 2014, he has sold more apartment buildings than any other broker in Chicago. He has a reputation of persistence, market knowledge and integrity, which has led to achieving record-setting results for his clients. Noah stays active in the real estate community as a member of the South Side Community Investment Association (SSCIA) and Young Real Estate Professionals (YREP). He is also an experienced operator of his own personal multifamily portfolio.

Aaron Sklar assists investors, developers and property owners on the acquisition and disposition of south side multifamily properties. He has established himself as a multifamily market leader throughout the south side of Chicago, including South Shore, Jackson Park and Chatham. Since 2015, Aaron has successfully completed transactions in excess of $165 million on behalf of his clients, encompassing more than 130 properties and 3,000 units. He has been named a CRE Future Leader by RE Journals, named One To Watch by Bisnow and is regularly mentioned and quoted by an assortment of news and media outlets. In 2017 and 2019, Aaron earned Kiser Group’s Top Closer award. Additionally, he earned two 2019 Commercial Forum Top Producer awards by the Chicago Association of REALTORS, including Platinum for Multifamily Transactions and Gold for Multifamily Sales Volume.

For more information, please visit https://kisergroup.com/.

Episode 9 - Craig Nadborne - Q1 2017 Chicago Downtown Office Market Report

Craig Nadborne - Q1 2017 Chicago Downtown Office Market Report.  In this episode, Phil has Craig Nadborne, an office tenant rep broker and senior managing director at Bradford Allen, come on the podcast to explain the Bradford Allen quarterly report and describe the state of the office market in downtown Chicago.   Craig advises on the current rental rates, total inventory, the difference between A, B and C class buildings, current trends in new office buildings and renovating existing buildings, and what’s to come in future quarters.

Quarterly Report

Learn more about Bradford Allen here.

DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests, SATC Solution Center L3C, or Schenk Annes Tepper Campbell Ltd. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.