A migration of some more investor dollars into the market would not, of course, be enough to push the Chicago office all the way to the top of the organization. Led by partners Thanasouras, Alfred Stepan and Scott Maesel, managing directors, SVN | Chicago Commercial has undergone a tremendous expansion since 2009, boosting its market share in the Chicago metropolitan area.

In 2009, Thanasouras says the local office had about ten people. But during the downturn, SVN saw many competitors going out of business, especially those that were dependent on completing deals in one particular sector. “It became more difficult to be a small office,” and SVN began adding key people to its team. In 2013, the firm moved from a 6,000 square-foot office to one with 10,000 square feet “with the mindset that we were going to fill that office.”

As a result, today the office boasts 45 brokers that handle the full spectrum of real estate deals in all major sectors. In addition, the firm has also added an auction group, SVN | AuctionWorks; a property management partnership, SVN | Crossroads property management ; and a new restaurant business/real estate brokerage group.

The latter additions don't necessarily add much to the bottom-line revenue, but Thanasouras says they help give clients confidence that the firm could handle whatever need arises. And being part of a giant network like Sperry Van Ness is also a big plus.

“Clients know you have the ability to do deals nationwide,” he says. This fact is even more important than it was just a few years ago. “Commercial real estate is becoming much more nationalized.” Thanasouras cited Real Capital Analytics data which show 65% of transactions for investment-grade properties are done across state lines.

But even though the firm has expanded aggressively, he adds that they have been careful to preserve its culture, a culture he credits with helping fuel revenue growth. SVN supports a cooperative brokerage system, for example, that encourages outside firms to work with its brokers by sharing commissions 50/50. “There is a lot of fighting over fees in commercial real estate, but our strategy has been to put the clients first, in the belief that if you do that you will earn more in fees over the long run." That kind of cooperation is common in residential real estate, “but in commercial real estate that is not always the case.”

“All of these are reasons our office has thrived in recent years,” says Stepan. “We know that our brokers are our clients as well and they are our biggest asset. Letting them do their job to the height of their abilities is what has helped fuel our growth. Our firm is entrepreneurial because our brokers are entrepreneurs.”