Over 400 investors, owners, developers attended the fourth Marcus & Millichap / IPA Multifamily Forum: Chicago for a full day of programming along with a networking breakfast, lunch and post-conference cocktail reception. Attendees benefitted from the insights, successes and failures of top multifamily developers, investors and owners as they discussed the latest trends, challenges and innovations in the Windy City.
The Marcus & Millichap / IPA Multifamily Forums across the U.S. brings together over 6,000 multifamily owners, investors, managers and developers to create an in-person marketplace for learning, discovery, networking and deal making. The sessions address the major issues affecting the apartment and condo industries today, and the networking allows multi-housing principals to meet, talk and source deals and investment capital.
2017 Keynote Speaker
Commercial Development & Insights
8:00 AM – Registration, Networking Breakfast & Exhibit Hall Opens
Join us early for the opportunity to enjoy breakfast and network with fellow owners, investors, developers and financiers.
8:45 AM – Multifamily State of Market: National vs. Midwest Markets
- John Sebree, FVP & National Director – NMHG, Marcus & Millichap
9:15 AM – Morning Keynote:
- Mary Ellen Podmolik, Associate Managing Editor/Business, Chicago Tribune
- Curt Bailey, President – Related Midwest, Related Companies
9:45 AM – Special Presentation:
- Chris Smith, Vice President, XFINITY
9:55 AM – General Session
Building Chicago: State of the Market Update from the City’s Biggest Deal Makers
Although the fundamentals for strong performance in the Chicago multifamily market are all set up, developers remain cautious. Oversupply continues to be a concern, particularly in the downtown area, and the cost of construction has led to new product pricing that is not affordable for many end users. What are some strategies that top developers use to build product that will yield a high ROI?
- Battling the Status Quo: How are owners and developers building differently from one another?
- Two Sides of the Same Coin: Looking at condo-to-apartment conversions as worthwhile investments
- Beyond Class A: The role of affordability requirements
- Render Unto Caesar: Uncertainty surrounding real estate taxes in the upcoming year
- Steve Rachman, Regional Manager – Managing Broker, Marcus & Millichap
- Kevin Ash, Principal, CRG Real Estate Solutions
- Yale Dieckmann, EVP & CIO, JDL Development
- Matthew Fiascone, President, The Habitat Company
- Sonny Ginsberg, Attorney, Ginsberg Jacobs
- Jonathan McCulloch, Senior Vice President, Belgravia Group
10:40 AM – General Session
11:10 AM – Concurrent Track A
It Takes Money to Make Money: A Discussion on Capital and Investments
Careful not to repeat the mistakes that led to the last real estate crash, banks are starting to demonstrate arguably much-needed restraint. Lending guidelines for new developments in particular have tightened, and lenders are increasingly more selective with the projects they do finance. How are lending terms different today than they were, say, three years ago? What can that mean for 2017?
- On the Bright Side: What are the benefits of having banks pull back on the Chicago market?
- All the Way Up: The rise of interest rates and their influence on pricing
- Exceptions to the Rule: How overseas lenders, with fewer regulations, are playing a role in the Chicago market
- Dean Giannakopoulos, First Vice President Capital Markets, Marcus & Millichap Capital Corporation
- Richard Blum, Managing Principal, White Oak Realty Partners
- Chad Broderick, Vice President, The John Buck Company
- Jim Going, Chief Executive Officer, ReadyCap Commercial
- Erin DiPaola Spears, SVP — Acquisitions & Development, Fifield Companies
11:10 AM – Concurrent Track B
Level Playing Field: Property Management in Today’s Chicago Market
The amenities arms race is more challenging year after year. Renters-by-choice are increasingly common, making high end services and amenities the expectation as well as a key strategy to getting the highest rents. How are the top multifamily operators incorporating the services and amenities that tenants expect while also facing the rapidly changing demands of the industry?
- The Trickle Down Theory: Providing institutional quality management to smaller buildings
- Let’s Talk Numbers: What are the best strategies for balancing management costs and tenant expectations?
- Work From Home: With co-working on the rise, how should owners and operators best integrate these spaces in multifamily buildings?
- Lela Cirjakovic, Executive Vice President, Waterton
- James Cunningham, Executive Vice President & COO, Marquette
- Charles Schoenau, Managing Director, Insurent
- Mark Sutherland, Owner, Wicker Park Apartments
12:00 PM – Concurrent Track A
The Lesser-Known Hot Spots: A Look at Alternative Markets
As core locations dominate new development and an apartment glut in downtown Chicago becomes a reality, investors and developers are looking towards submarkets and tertiary markets. From Logan Square to Hyde Park and Uptown – as well as suburban areas – many key players are looking for alternative investment options. What markets represent the greatest upside potential?
- The New Amenity: How transportation norms are impacting neighborhood demand
- Urban Dictionary: Who are the people moving to these neighborhoods? What are their motivations and spending power?
- A Market by Market Situation: Looking beyond the “obvious” tertiary markets
- A Different Migration: What level of demand is there in the suburbs? Why should savvy investors look at the opportunities available there?
- Jimmy Sarnoff, Attorney, Sarnoff & Baccash
- John Kinzelberg, Co-Founder & Principal, Highgate Capital Group
- Michael Obloy, Principal, Monroe Residential Partners
- Justin Pelej, VP – Development, Focus Development
- Enrico Plati, Chief Executive Officer, Savoy Development
12:00 PM – Concurrent Track B
Upcycle Opportunities: Key Value Add and Redevelopment Strategies
In a heated market, investors and developers are often forced to take on larger risks to get the results they want. It is evident, then, why value add and redevelopment strategies have not lost momentum. With so many investors with their eye on undervalued or poorly managed properties, where are the best deals for value add opportunities in the Chicago market?
- Mitigating the Unforeseen: When to bring contractors into the project
- Shabby Chic: Innovative ways to integrate the old with the new
- Dollars and Cents: Which capital sources are funding value add deals?
- Weighing the Options: Long-term ownership vs. short-term turn-arounds
- Richard Matricaria, FVP & Division Manager, Marcus & Millichap
- Steve Rappin, President, Evergreen Real Estate Services
- Jonathan Saliterman, Principal, Randolph Street Realty Capital
- Joshua Grossman, Senior Vice President, LEM Capital
- Alon Yonatan, Chairman & CEO, Ferndale Realty Group
- Art Rendak, President, Inland Mortgage Capital
- Alan Kennard, Senior Counsel, Clark Hill
12:40 PM – Networking Lunch
12:40 PM – Lunch Workshop
New Trump Administration Updates: Federal, State and Local Energy & Specialty Tax Incentives
The presentation is designed to provide New Trump Administration Updates to Federal, State and Local Energy & Specialty Tax Incentives and provide clarity to the design, qualification and certification process to maximize maximizing results and cost savings on Purchases, Renovations, Improvements and New Construction projects. During this presentation, you will be able to understand how to capture and best utilize Cost Segregation, Energy Tax Credits (like 179D for commercial buildings and 45L tax credits for residential and multi-family projects) on a local and national scale.
- New Trump Administration Tax and Energy Incentives Updates for the property owner, developer, investor, finance and broker communities.
- Overview of available Energy Tax Credits and recently extended 179D, 45L and R&D Federal and State credits available for the design of energy-efficient buildings.
- Recognize Opportunities and capture benefits for Property Owners, Investors, Architects, Engineers, CPA’s, Real Estate Attorneys, Energy Consultants and Contractors.
- Understand how these new tax laws and related strategies available can become an additional value-added service to your clients, as well as a revenue stream for your firm.
- Additional related benefits and tax strategies including Cost Segregation, Property Tax Appeals, Energy Audits and related savings.
- Michael D’Onofrio, Managing Director, Engineered Tax Services
1:45 PM – Special Presentation
The Multifamily PSA Thrill Ride: 5 Issues You Won’t Forget
- Scott Toban, Shareholder, Polsinelli
2:15 PM – Refreshments & Networking
Stick around to enjoy the post-event cocktail reception while mingling with the area’s most successful real estate principals.
2017 List of Attendees
- – Aegon Asset Management
- – AEI Consultants
- – Agent Publishing
- – AIG Global Real Estate Investment Corp
- – Akara Partners
- – Appraisal Research Counselors
- – APT Property Management Consulting
- – Arqui300
- – Assurance Agency
- – AT&T
- – BDO
- – Becovic Management Acquistions
- – Belgravia Group
- – Benesch Friedlander Coplan & Aronoff
- – BH Management Services
- – bKL Architecture
- – BKV Group
- – BMO Harris
- – Bock & Clark
- – Boutique Properties
- – Brightview Landscape Development
- – Brook Furniture Rental
- – BSB Design
- – The Buckingham
- – Burnham Nationwide
- – Caesarstone
- – Cedar Street
- – Chicago Tribune
- – Citizens Bank
- – CityLift
- – Clark Hill
- – CohnReznick
- – Community Investment Corporation
- – Cordogan Clark & Associates
- – CoStar Group
- – Cundiff-Woods
- – Division Street Capital
- – Dixon Companies
- – Dorothy Klees
- – Eco Achievers
- – ECS Midwest
- – Engineered Tax Services
- – Enodo Score
- – Eriksson Engineering Associates
- – Everywhere Wireless
- – Ferndale Realty Group
- – Fidelity National Title
- – Fifield Companies
- – Fifth Third Bank
- – First American Bank
- – First Midwest Bank
- – FitzGerald Associates Architects
- – Focus Development
- – Fordham Real Estate
- – Forum Group
- – Free Market Ventures
- – Freeborn & Peters
- – GEI Consultants
- – Gershman Mortgage
- – Gilbane Development Company
- – Ginsberg Jacobs
- – Greater Illinois Title Co
- – Greystar
- – Grove Properties
- – Habitat Company
- – Highgate Capital Group
- – Hines
- – Hinshaw & Culbertson
- – Hispanic Housing Development
- – Holabird & Root
- – Holladay Properties
- – The Horton Group
- – Huber Engineered Woods
- – Humphreys & Partners Architects
- – Inland Mortgage Capital
- – Insurent
- – Integris Solutions
- – Inter Continental Real Estate
- – Interstate Restoration
- – The Jaffe Companies
- – Jameson Commercial
- – John Buck Company
- – JVM Realty
- – Kipling Development
- – KLOA
- – Krusinski Construction Company
- – Laramar Group
- – Lendlease
- – Lennar Multifamily
- – Letts Property Management
- – Lexington Home
- – Lieberman Management Services
- – Lima One Capital
- – Manhard Consulting
- – Marc Realty Capital
- – Mary Cook Associates
- – MB Financial Bank
- – McCormack Baron Management
- – Meadowdale Apartments
- – Mid-States Concrete Industries
- – Miller, Canfield, Paddock and Stone
- – MLG Capital
- – Monroe Residential Partners
- – Moyer Properties
- – MRI Software
- – MSK Property Holdings
- – Much Shelist
- – Newcastle Limited
- – NORR Architect Planners
- – Northern Trust
- – Oldcastle Building Solutions
- – Optima
- – Opus Development
- – Opus Group Chicago
- – Origin Investments
- – Orion Residential
- – Orrington Capital Services
- – Oxford Capital
- – Partner Engineering and Science, Inc
- – Peoples Gas / ComEd Multi-Family Program
- – Pepper Construction
- – Pinnacle
- – Pioneer Engineering & Environmental Services
- – PIRHL
- – Power Construction
- – The PrivateBank
- – Property Valuation Advisors
- – QYPSYS
- – ReadyCap Commercial
- – Reed Construction
- – Related Midwest
- – RMK Management Corporation
- – Savoy Development
- – Setter Holdings
- – Skender Construction
- – Solomon Cordwell Buenz
- – Streeterville Properties Group
- – Sullivan Goulette & Wilson
- – Sunesys
- – Tandem Development
- – Taylor Johnson
- – TCF Bank
- – TCL – Transceramica
- – Thermosystems
- – Tradition
- – Transceramica
- – Turnstone Development
- – TVO Group Chicago
- – Urbaneer
- – UrbanStreet Group
- – Ventas REIT
- – Vermilion Development
- – Village Green
- – Vornado Realty Trust
- – Walsh Construction
- – WastePoint
- – Waterton
- – WegoWise
- – Winnemac Properties
- – Wintrust
- – Wood Partners
Founded in 1971, Marcus & Millichap is a leading commercial real estate brokerage firm focusing exclusively on investment sales, financing, research, and advisory services, with more than 1,700 investment professionals in offices throughout the United States and Canada. The firm has perfected a powerful property marketing system that integrates broker specialization by property type and market area; comprehensive investment research; a long-standing culture of information sharing; relationships with the largest pool of qualified investors; and state-of-the-art technology matching buyers and sellers. In 2016, the firm closed 8,995 transactions with a sales volume of approximately $42.3 billion.
Institutional Property Advisors (IPA) is a unique platform created to support the needs of institutional and sophisticated private investors. IPA is centered around a select national network of institutionally qualified brokerage professionals and supported by a robust technology platform and highly regarded research. IPA’s unique combination of real estate investment expertise, industry-leading technology, superior support services and acclaimed research will offer customized solutions for the acquisition and disposition of institutional multifamily properties and portfolios.
XFINITY Communities provides properties and residents with a better network, better entertainment, and better service. With fiber-based custom network solutions, a one-of-a-kind interactive TV experience with XFINITY X1, and our new dedicated property support, we provide an advanced and complete service that translates to better living.
Arqui300 is a company specialized in 3D photorealistic renderings and film productions for the promotion of Real Estate, Corporate, Advertisement and Tourism markets. With a strong international presence Arqui300 is one of a handful 3D image and film production companies in the world capable of integrating real life actors, shot in our chroma screen studio, directly into the 3D environment, extending a human touch and higher reality to all real estate promotion productions. Whether you are looking for a simple rendering or a 3D film we can provide you with a strong and attractive tool to promote the most demanding real estate project.
CityLift parking designs, installs and services automated parking systems that reduce the footprint needed for parking and can typically be done at a lower cost per space than conventional parking.
Over 60,000 parking spaces of our systems have been installed in 13 countries around the world over the past 15 years. We have projects installed, contracted or under construction in Oakland, San Francisco, Los Angeles, San Diego, Miami, and Long Island City, New York. We believe we are the first company that brings a wide range of proven best-in-class products at a great value, combined with a professional-level focus on quality and service.
The company is headquartered in Oakland, CA and has offices in Los Angeles, Chicago and Miami. We are opening offices in Portland, Seattle, NYC, Boston, and Washington, DC through 2017.
Clark Hill PLC is an entrepreneurial, full service law firm that provides business legal services, government & public affairs, and personal legal services to our clients throughout the country. With offices in Arizona, Delaware, Illinois, Michigan, New Jersey, Pennsylvania, Washington, D.C. and West Virginia, Clark Hill has more than 350 attorneys and professionals. For more information on our firm and our services, visit www.clarkhill.com.
Engineered Tax Services (ETS) is a nationally licensed engineering firm with extensive experience in engineering-based specialty tax services yielding substantial tax incentives for companies of all sizes. ETS is one of the only qualified engineering firms with its own Professional Engineers, LEED Accredited Professionals, Certified Public Accountants, and Licensed Contractors on staff. ETS provides a full range of specialty tax incentives for real estate professionals including Cost Segregation, 263(a) Repairs vs. Capitalization, Disposition Studies, 179D EPAct, 45L, Utility Rebates and Refunds, Energy Audits, Modeling, and LEED Certifications. ETS averages over $44 million per month in refunds for clients, equating to hundreds of studies nationally. ETS is committed to providing the highest level of service and attention to detail in order to realize maximum benefits and ensure compliance of IRS guidelines. For more information, please contact us Engineered Tax Services at 800-236-6519 or visit www.engineeredtaxservices.com.
Ginsberg Jacobs LLC provides business-oriented legal solutions to public and private entities in the areas of corporate, finance, litigation, real estate, trusts and estates, tax and tax credits. Our innovative business model departs from the “large firm” approach. We deliver client focused legal services that are both efficient and of the highest quality.
Huber Engineered Woods LLC continually strives to create innovative products that suit their customers’ needs. Each one delivers outstanding performance, easy installation and greater strength in single family, multifamily and light commercial projects. Huber’s ZIP System® Roof and Wall Sheathing are structural wood panels with built-in protective barriers, eliminating the need for building wrap or felt and providing a continuous rigid moisture and air barrier that optimizes energy efficiency. Additionally, Huber’s AdvanTech® Subflooring product is proven to achieve a superior combination of strength and moisture resistance — for subflooring that won’t swell, cup, delaminate or bounce even under the toughest conditions. To learn more, visit www.HuberWood.com
Inland Mortgage Capital, LLC (IMC) is an experienced private lender specializing in intermediate-term mortgages for value-added commercial real estate in need of bridge financing. We provide non-recourse $3-12 M loans targeted for projects with opportunistic characteristics. When it comes to lending solutions, IMC is able to provide exceptions that traditional banks cannot.
A critical factor in any real-estate transaction is the creation of trust. We understand the importance of that element. In fact, we’ve built our company upon it, from our processes to our people.
Insurent Agency Corporation is a closely held company based in New York City. The Insurent® Lease Rental Bond Policy and The Insurent® Lease Residual Value Policy are underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company licensed in New York and other states. Argonaut Insurance Company is rated A (Excellent) by A.M. Best, and is located at 225 West Washington, 6th Floor, Chicago, IL 60606. Insurent Agency Corporation is the exclusive licensed general agent of Argonaut Insurance Company (a subsidiary of Argo Group US.., NASDAQ Ticker Symbol: AGII ) for the Insurent® Lease Guaranty Program.
Shareholders of Insurent Agency’s parent company include institutional investors in the real estate, private equity and insurance fields, and its management team includes individuals experienced in insurance, real estate, credit and corporate finance. The company’s senior insurance professionals include individuals who were founders and senior officers of Enhance Financial Services Group, Inc., an NYSE-listed U.S. financial guaranty insurance company that was acquired by Radian Group, Inc. in 2001.
Monroe Residential Partners (MRP) is a full service multifamily development and investment firm based in Chicago, Illinois. With a combined 70 years of experience specializing in the multifamily industry, the principals of the MRP have completed the acquisition, development and redevelopment of over 30,000 apartments and condominiums. Monroe Residential Partners focus on the development of boutique-style, luxury apartment communities in Transit-Oriented (TOD) locations of Chicago’s downtown and surrounding suburbs. Each development is strategically positioned to offer a high-quality, intimate living experience for renters that appreciate spending slightly less on amenities that they may or may not use. MRP communities offer close proximity to public transportation, the conveniences of shopping, nightlife and employment, and are situated in bustling neighborhoods. We strategically deliver well-appointed living spaces at rents that are more affordable than comparable apartments in larger, fully “amenitized” buildings.
ReadyCap Commercial is a non-bank lender offering small-balance commercial real estate financing from $750,000 to $10,000,000 nationwide. We consider the total picture of the borrower and transaction, offering a diverse array of loan products and terms, with an efficient process and quick closings. Our highly experienced commercial lending team delivers hands-on service to our customers, which include mortgage brokers, bankers, borrowers, investors and other lenders. Each borrower and every project is unique – that’s why ReadyCap takes a flexible, common-sense approach to financing commercial real estate. Tell us your scenario – we are eager to review your lending needs.
Sarnoff & Baccash has earned a national reputation as one of the leading property tax law firms in the country. The firm is dedicated to providing high-quality, professional and cost efficient legal consulting services in the pursuit of equitable fair market values, applicable incentives, reduced tax rates and, ultimately, lower property taxes. Founded over 30 years ago by former government lawyers with tax, trial and appellate experience; Sarnoff &Baccash has proven expertise in serving commercial, industrial and multi-unit residential property owners throughout Illinois in property tax matters. In addition to our founding attorneys, Sarnoff &Baccash consists of a team of highly respected tax attorneys and administrators who are proficient in property tax assessment and valuation procedures to ensure that our clients are providedwith ample resources and continued communications.
Marcus & Millichap / IPA Multifamily Forum: Chicago
Tuesday, April 4, 2017
8:00 AM – 3:15 PM
The Mid America Club
200 East Randolph Drive, 80th Floor
Chicago, IL 60601
Hilton Chicago/Magnificent Mile Suites
198 E. Delaware Place
Chicago, Illinois 60611-1719
We have a discounted rate of $209 per night + tax at the . Hilton Chicago/Magnificent Mile Suites. Please click here to reserve your room. Please note the cutoff date for receiving the discounted rate is March 13, 2017 and space is very limited.