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More Leasing, Less Building Say RealShare Speakers

CHICAGO-Top Chicago executives were positive about the health of all asset classes at the RealShare CHICAGO event held this morning, but agreed that only apartments are going up.

By Robert Carr | Updated on June 15, 2011

CHICAGO-Two facts about the local commercial real estate market dominated the RealShare CHICAGO event, held at the Renaissance Chicago Downtown Hotel: It’s unbelievable that loan-to-value has risen back to 70% this soon after the recession, and those involved in the apartment market are just plain excited to be alive. About 250 owners, brokers, lenders and other professionals attended the event this rainy morning in the Windy City.

More than 25 speakers talked about a variety of market topics, and were mostly positive about the various asset class possibilities this year. Discussions included that the Chicago office market is at least five years from a new building, but the time to start planning for a new multifamily tower downtown may already be too late.

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