CHICAGO-Jones Lang LaSalle executives reported gains in revenue and net income in a conference call regarding its first quarter report on Tuesday, even though activity was down for the quarter in compared to Q1 2011. Colin Dyer, CEO, said during the call that investment sales volume should increase for the rest of the year, cap rates should stabilize and most major markets will continue to record positive rent and capital growth in 2012.

The locally based firm recorded $22 million of adjusted net income for the first quarter, compared with$1 million for Q1 2011. The firm’s consolidated revenue grew 18% for the quarter to $813 million compared to $688 million a year ago.

Dyer said during the call that the global economy continues to move forward, driven by improving conditions in the United States and in emerging economies, and by injections of liquidity in the Eurozone, rising equity markets and strengthening business and consumer sentiments. Forecasts from the IMF predict a 3.5% growth in 2012, down somewhat from 2011, he said, with GDP growth expected to be 1.4% in advanced economies and 5.7% in emerging and developing countries.