David Bach

Hines

Peter Chmielewski

Lennar Multifamily

Mike Drew

Structured Development

Valerie Fertitta

Greystar

Dan Gladden

AMLI Residential

David Goldman

Belgravia Group

Olga Iskender

Eastham Capital

John Kennedy

Evergreen Real Estate Group

Jim Letchinger

JDL Development

Pei Pei Mirabella

Bozzuto

Justin Pelej

Focus Development

Scé Pike

IOTAS

Tony Rossi Sr.

RMK Management

Lindsey Senn

Fifield Companies

Steve Sise

Golub & Company

Darren Sloniger

Marquette Companies

Carly Stevenson

McCaffery Interests

Mark Sutherland

Wicker Park Apartments

Stacy Valentine

Laramar Group

Renee Wersching

Magellan Development Group

Mike Yungerman

Opus Development Company

Michael Zucker

Peak Properties

Networking Breakfast

Welcome Remarks

Market Presentation: Multifamily State of the Market: Chicago & the Midwest

Marcus & Millichap’s National Director of Multifamily John Sebree will present the current state of the market, comparing and contrasting trends across Chicagoland with other markets across the Midwest and the country. The presentation looks at employment and development trends by market, identifying markets where there are disconnects between supply and demand, and where homeownership costs far exceed rental costs, thus identifying key markets ripe for new development or acquisition of multifamily properties.

Presented by:

• John Sebree, SVP & National Director, Multifamily, Marcus & Millichap

Keynote Fireside Chat with David Schwartz, CEO, Waterton Residential

Hear from David Schwartz, CEO, Chairman & Founder of Waterton Residential, who will reveal his strategies and lessons learned when growing Waterton’s portfolio to $5.6 billion in real estate assets. Mr. Schwartz will also discuss key trends that he follows and his outlook for multifamily investment opportunities in the near future.

Keynote:

• David Schwartz, Chairman & CEO, Waterton Residential

Interviewer:

• John Sebree, SVP & National Director, Multifamily, Marcus & Millichap

Follow the Yellow Brick Road: State of the Market & New Development Trends

Favorable demographics, robust job growth, soaring rents and continued demand for apartment housing are extending the boom in Chicago multifamily development into 2020. However, the looming property tax reassessment in 2021, uncertainty around the Affordable Requirements Ordinance (ARO) and rising construction costs have some developers and investors exploring markets outside the urban core. Yet compared to the rest of the country, Chicago’s fundamentals still rank high and deals are getting done. Leading national and local developers will discuss the latest issues, policy changes and development trends, and evaluate the future of multifamily across the region.

Panelists:

• Mary Cook, President, Mary Cook Associates
• Yale Dieckmann, Managing Director – Development, Greystar
• Jerry Karlik, Partner & Founder, JK Equities
• Michael McLean Jr., Partner, Condor Partners
• Ted Weldon, Executive General Manager – Development, Lendlease

Networking Break

Track A – A Wealth of Opportunities: Financing & Investment Strategies

Chicagoland continues to see an influx of capital from national & international investors. At the same time, impending property tax hikes and other headwinds have created a more challenging and uncertain outlook. The capital is there for new deals, but these new risks have some institutional investors, fund managers and allocators eyeing alternative markets. Others are less concerned given the City’s steady performance and record-breaking rents. Hear from top capital sources on how they view opportunities Chicago and the Midwest, what they look for and what they avoid.

Moderator:

• James Leonard, Senior Managing Director, Marcus & Millichap Capital Corporation

Panelists:

• Jeff Elowe, President, Laramar Group
• Brad Gries, Managing Director – Head of US Acquisitions, LaSalle Investment Management
• Jerry Lumpkins, Director, BMO Harris Bank
• David Reahl, Managing Director, USAA Real Estate

Track B – Just Add Water: Value-add & Investment Opportunities

Despite diminishing returns and a picked over market, Chicagoland will likely continue to be a preferred location for value-add renovation and redevelopment plays. High constructions costs, impending tax increases and various other legislation has sweetened the appeal of innovative value-add strategies versus new build. However, these headwinds appear to be pushing for new value add strategies that emphasize improving bad management or deploying new service and technology versus high cost capital projects. Separately, despite a newly required, higher threshold for approval, Chicago’s condo-deconversion trend is expected to continue through 2020, providing unique acquisitions opportunities in prime locations. Come hear where active players are finding new deals and how they are making the most of their new acquisitions.

Moderator:

• Joshua Hanna, Partner, Kirkland & Ellis

Panelists:

• Milan Rubenstein, Founder & Partner, Windy City RE
• David Ruttenberg, Managing Partner, Ruttenberg Gordon Investments
• Marc Turner, Managing Director – Investment Management, Origin Capital Partners
• Sondra Wenger, Managing Director, CIM Group

Track A – The Power of Community: Innovations in Property Management & Operations

While already catering to the wants and needs of Millenials and Baby Boomers, the region’s leading property managers are now working Gen Z into the mix, seeking to meet their current and future demands. Flexible, high-tech, public spaces for socializing and co-working are becoming a must, as well as a wide range of services for the tenants, including their pets. As co-living and short-term rentals are becoming more prevalent in Chicago multifamily, the model for property management and operations at traditional rental apartments is forced to change. Add new and potential legislation regarding criminal background checks, cannabis, rent control and property taxes, and it is easy to see that property management and operations executives have their work cut out for them. Come hear top multifamily operations executives discuss their priorities, successes and challenges.

Panelists:

• Maria Banks, President & CEO, AMLI Management
• Lela Cirjakovic, EVP – Operations, Waterton Residential
• Bob Hanrahan, Chief Operating Officer, Redwood Capital Group
• Michael Hayford, Multifamily Director – Midwest, Kastle Systems
• Blake Miller, Chief Executive Officer, Homebase
• Diana Pittro, Executive Vice President, RMK Management

Track B – Outside the Urban Core: Development & Investment Throughout the Midwest

Chicago’s and the nation’s most prominent multifamily developers & investors are actively seeking higher yield opportunities outside the urban core. The Twin Cities are shattering expectations with deliveries and rents on the rise. Rapid job growth has bolstered demand in Indianapolis. St. Louis’ diverse economy and Milwaulkee’s revitalization are creating record-breaking demand for apartment living. Detroit, Des Moines, Kansas City and Columbus are also on everyone’s radar, as investors push beyond picked-over markets towards opportunities in less competitive markets. Hear where regional and national investors are actively pursuing deals and what kinds of returns and challenges you can expect.

Panelists:

• Derrick Cranor, Partner, Cityscape Residential
• Tammy Kelly, SVP & Head of Asset Management, Redwood Capital Group
• Kimberley Grimm, EVP – Development, Continental Properties

Networking Lunch

Lunch Workshop – Tax Free Forever: New Info just released about Opportunity Zones and Tax Policy Changes

Workshop Leader:

• Michael D’Onofrio, Managing Director, Engineered Tax Services

Keynote Fireside Chat with Gene & Lee Golub

Iterviewer:

• Harvey Camins, President & CEO, CTK Chicago Partners

Keynotes:

• Eugene Golub, Founder & Chairman, Golub & Company
• Lee Golub, Managing Principal, Golub & Company

Sounding Off on Rent Control: A 2020-2021 Update

Chicago, like the many cities, is currently under pressure to fix the city’s housing affordability crisis, which may soon result in a lift on the rent control ban that’s been in place since 1997. As Illinois legislature weighs the possibility of such a repeal, local multifamily leaders fear the impact of new laws like those recently imposed in New York, California & Oregon, which they see as counterproductive to the intended cause. As the “Lift the Ban Coalition” marches forward, local, regional and national developers and investors are searching for strategies to protect their current investments and the future of their business in Chicagoland.

Moderator:

• John Sebree, SVP & National Director, Multifamily, Marcus & Millichap

Panelists:

• Jim Lapides, VP – Strategic Communications, NMHC
• Michael Mini, Executive Vice President, Chicagoland Apartment Association

Closing Remarks & Networking Reception

Peer-to-Peer Roundtable: Property Management & Operations

Peer-to-Peer Roundtable: Development & Construction