CRE Midwest

Randy Podolsky: You only get one integrity-use it wisely

Whether it is with electronic equipment in his spare time or with the deal structure of a 100,000-square-foot office development, Randy Podolsky likes to take things apart, dissect them and figure out how they work. For 25 years he has been the head of Podolsky Northstar Corfac International in Riverwoods. Mark Thomton, editor of Chicago Industrial Properties, recently sat down with Podolsky to discuss the state of the industry and to look back on his career.

CRE Midwest

Friends of Bruce Krall sponsor memorial open golf tournament

The Barnes Family, Cohen Financial, Colliers International and the Flisher Family today announce that they are sponsoring the Bruce Krall Memorial Open Golf Tournament to support a college fund for Mr. Krall’s two young sons, Lucas (10) and Logan (8). Mr. Krall, 51, Managing Director of Cohen Financial and a commercial mortgage broker for over 25 years, died in a plane crash on Wednesday, March 16, 2011.

CRE Midwest

Hennelly looks to build Ryan's presence in Chicago

Throughout his 25 years of commercial real estate experience, Tim Hennelly has worked almost every angle of a deal. He has spent time as a broker, construction consultant, and a developer. Hennelly recently was named President of the Great Lakes Region for Ryan Companies.

Industrial Midwest

Champion Realty completes 269k s.f. lease expansion

Champion Realty Advisors, LLC has completed a 269,590-square-foot lease on behalf of Ozburn-Hessey Logistics, LLC at 1150 115th Street, Bolingbrook, Ill. With the completion of this lease OHL now occupies the entire 453,090 square feet in the building. The IDI owned and developed building is located in the Bolingbrook Corporate Center West business park.

Industrial Midwest

Industrial market improving according to AIRE survey

Activity is generally improving in Chicago's industrial real estate market, but the recovery is expected to be gradual, according to a recent survey by the Association of Industrial Real Estate Brokers (AIRE). The periodic survey of the associations' 500 plus members showed that seven out of 10 thought improvement in activity by the end of the year would be only lackluster and that rental rates would remain flat throughout 2011.

CRE Midwest

Accessing Capital for Commercial Real Estate Is Difficult in the New Normal

With the nation’s banks sitting on between $1.2 and $1.3 billion worth of capital, they are nevertheless reluctant to lend on commercial real estate because of the elevated level of risk and current valuations of properties already on their books. Many banks own portfolios of commercial real estate whose valuations have declined significantly and do not want to increase their exposure.