Willard Jones Real Estate

What does it take to run a building?

Operating and maintaining a thriving, well occupied office building is a complex process. While a lot of peoples’ first reaction is to either praise or blame the leasing agent for what goes on in the building, there is much more to the equation.

It is truly a team effort, starting at the very top with the building owner and trickling all the way down to the maintenance staff.

Let’s take a closer look at the parties involved and the significant roles that each plays:

1) Ownership – Ownership must be committed to investing in the property on several levels. As the saying goes, you need to spend money to make money, and that is so true when it comes to office buildings.

Ownership needs to ensure that the building always shows and functions well. The common areas need to have a fresh appearance and the necessary amenities that tenants crave need to be provided.

Also, all of the vacancies should be either in a move-in ready state, or sufficiently cleaned up in order for the building to be as attractive as possible on tours.

Finally, ownership must make sure that the building is well staffed with quality individuals who are given the flexibility to do their jobs well.

2) Property Manager – The property manager is another essential cog in the machine. The property manager is tasked with effectively implementing the orders and vision of ownership, as well as overseeing the daily activities of the building.

Managers are responsible for developing and adhering to budgets, supervising building staff and outside contractors, and making sure that tenants enjoy their experience.

A manager’s relationship with his or her tenants is often an important factor in whether they elect to renew their lease.

3) Engineering Staff – Building engineers are often the unsung heroes.

Not only are they tasked with ensuring that the building functions well on a day-to-day basis from a mechanical standpoint, but they also need to be ready to act quickly and decisively when the inevitable crisis occurs.

Most reasonable people understand that things are going to malfunction on occasion, so how the engineering team responds goes a long way toward solidifying relationships and formulating attitudes.

Their frequent interactions with tenants serve as a bridge between ownership and management and these personal relationships can often be the difference between a tenant renewing and moving.

4) Building Personnel – Another component of creating a positive work environment is the building staff; starting with the security guards who greet people when they walk in the door every morning, to the cleaning staff at night who make sure that the premises are spotless for the next morning.

Tenant service coordinators, parking garage attendants and concierges, where applicable, all help create and maintain a positive atmosphere.

5) Outside Contractors – The outside vendors who do work in a building, whether it be for construction, voice/data wiring, architectural and engineering services, web designers and marketing agencies, are all an extension of the property and help build upon the first impression and create a positive image.

6) Leasing Agent – Last but certainly not least, the leasing agent plays a vital role.

As the ones in the trenches, agents are often responsible for attracting new tenants and retaining existing tenants by negotiating renewals.

The agent coordinates all marketing programs and crafts an image of the building to the public that promotes the finer points of the property. The hope is to get prospects through the door for showings and ultimately convince them to lease space.

Agents also must keep ownership educated on current market conditions and trends and where the property falls within that realm.

The direction provided by agents will help ownership determine the most prudent areas to invest their funds.

With all parties working together collaboratively, a building is much more likely to enjoy success and become a desired address.

Where a business chooses to office sends a powerful message to the public and in many ways, defines who and what your business is all about.

Your setting will dictate the type of employees you attract, how successful you are in retaining them over time and how you are viewed by your clients.

Here are a few things to think about when you’re leasing an office for the first time, or relocating an existing office:

1) Location – Are your employees coming from the city or suburbs? How do they get to work every day–public transportation, driving or biking?

If you are a firm who has clients frequently visit the office, how easy will it be for them to get to you?

2) Expansion Plans – Are there plans to grow the business? If so, what type of space and location do you need in order to attract quality labor?

3) Vibe – What type of atmosphere are you trying to convey?

Are you a creative firm that values a loft space with exposed brick and columns, timber or concrete ceilings and wood floors, or are you more of a professional firm that favors the traditional dropped ceiling with florescent light fixtures?

Do you want your employees collaborate with each other, or should they have private offices for personal time for concentration, meetings and phone calls?

4) Economics – Of course, money always plays a significant role in any key decision.

How often will existing or potential clients visit the space?

Do you need to impress them with a Class-A-caliber-building featuring panoramic city views and an immaculate lobby, or are you content leasing at a more budget minded, no frills property with a convenient location?

5) Perception – If you choose to locate in a higher end property and bill your clients on an hourly basis, how will your clients perceive your opulent office?

Will they feel like their fees are going straight towards supporting your Lake Michigan views as opposed to the services you are providing?

Will clients feel like they can better relate to an “average guy” and be more inclined to do business with a firm in a respectful, nice, middle of the road atmosphere?

On a related note, if you are a design-oriented firm, will a prospective client pre-judge your ability to complete the task based upon your cutting edge, uniquely designed office space? There’s a lot to say about the appearance of your office.

6) Amenities – Do you and your employees require features like an in-building fitness center, conference facility, cafeteria, concierge service, rooftop deck, bike storage or parking?

Several buildings offer some or all of these features, but make no mistake, you will be paying for it in the form of higher rent.

If these items help you attract and retain employees while keeping everyone happy and productive, however, it might be money well spent.

When it comes time to start or renew a lease, it is essential to run through this check list to ensure that the location is helping to shape the business in the manner that you want it to be perceived by employees, clients and the public.

With this list and a little luck, you’ll find the perfect office and start moving your business forward in a new, positive direction.

On the northwest corner of Monroe and Clark sits the latest addition to a seemingly endless supply of new hotels in downtown Chicago: Hyatt Centric The Loop.

Prior to the hotel, this fairly nondescript building was one of the best kept secrets in the Loop.

The businesses and individuals who were fortunate enough to maintain an office in this property at some point during its 85 year run, however, know that not only was it one of the best run structures in downtown Chicago, but also a true model on how to successfully operate office building.

Established in 1927, 100 West Monroe was a supremely located building in the heart of Chicago’s Central Loop.

Historically, it has been best known for its “cow path” (more on this in a future blog) and being the location of Chicago real estate legend Arthur Rubloff’s original office.

While there were some rough patches over the years, 100 West Monroe was prosperous and well occupied by professional and entrepreneurial. I was fortunate to not only be the leasing agent there for 16 years, but also a tenant.

100 West Monroe’s sustained success all started at the top with the owner.

The building was controlled by a family partnership who purchased the property in the early 1960’s and maintained control until it sold in 2012.The majority of their ownership tenure was debt free and they were diligent about reinvesting some of their profits back into the property.

Every year, they would pick a specific area to update, whether it be the lobby, elevators, common corridors or mechanical systems.

They would always budget funds for improving vacant suites prior to leasing so the product would show at its very best to prospective new tenants.

Ownership also made sure to have a dynamic team working along side.

The property manager was a seasoned veteran who knew exactly what was needed to operate a thriving property. He always spent money wisely and maintained a positive relationship with both his tenants and staff.

He was tough when necessary, but was universally respected and genuinely well liked. Undoubtedly, his relationships formed over the years were a key reason why few tenants ever moved out and why there was virtually no staff turnover. The two building engineers were among the finest downtown.

Both were employed at 100 West Monroe for over 30 years and treated the building like it was their own.

In addition to their expert care and maintenance skills, most tenants came to view them as friends.

Not only did they know just the right temperature to set each office suite, but they also made it a point of leaning everyone’s name and about their families and businesses.

These small details helped make the building a nice place to be.The rest of the staff was stellar as well.

The security guards always greeted people by name every morning as they arrived and were always ready to chat about the game from last night, weather, politics and other world events.

The cleaning crew was incredibly dedicated as well, and the building always sparkled.

Outside contractors enjoyed doing work at 100 West Monroe and typically went above and beyond the call of duty in order to continue getting the business.

Working in this unique atmosphere made my job as leasing agent easy. Once the building hit 90% occupancy in 1999, there was no turning back.

We hit 100% in 2000 and never fell below 96% for the remainder of the building’s office history.

Sure, the location was an asset, but the strong ownership, dedicated management and wonderful staff all contributed toward tenants thoroughly enjoying their experience.

We may not have had the amazing views, modern features and amenities offered at other buildings, but no one could compete with our responsiveness, personalized touch and attention to detail.

Everyone got along incredibly well and worked together seamlessly. This trickled down to the tenants, who all coexisted like one big happy family.

When 100 West Monroe sold in 2012, the new owner elected to exercise a clause which gave him the ability to terminate all of the leases.

Most people never took it all that seriously, but it happened and shock and sadness soon followed.

It was the end of an amazing era.

I learned real estate at 100 West Monroe and more importantly, how to do things the right way.

As I run into former tenants today and ask about their new building, the one constant comment is that “it is no 100 West Monroe.”

If every building operated as well as this one did, the wild world of downtown Chicago real estate would be much more tolerable.

2015 has been a wild and crazy year in Downtown Chicago commercial real estate. In my 20 years in the industry, this is the most active phase that I can ever recall.

In tribute to the great David Letterman, from the home office in Chicago, Illinois, here are my Top Ten Chicago commercial real estate highlights for 2015:

10) Block 37 finally emerges as a significant destination. After decades of futility, the former “hole in the center of the Loop” transformed from a sleepy mall into the anchor for the State Street retail district. The recent additions of Latinicity and the AMC Dine-In movie theaters have complimented the existing retailers and substantially increased foot traffic. Upcoming additions include The Dearborn Restaurant on the corner of Dearborn and Randolph and a 690-unit, luxury apartment building currently under construction above the mall.

9) Advances in public transportation. The overwhelming desire of so many office tenants wanting to be close to Union Station and Ogilvie Transportation Center has been a key factor in the growth of the West Loop and the systematic decline in popularity of the East Loop. In response to this, construction has just concluded on the Loop Link express bus service which is designed to tie the East Loop with the West Loop more closely by cutting down on the commute time by several minutes. Recent sizable leases with Kraft Heinz, Oscar Meyer and Cision may have been influenced by this new service. Additionally, using the highly successful new Morgan Street El station which helped spur the rapid growth of Fulton Market, the CTA opened a new station at State and Cermak in 2015 to help generate activity in the planned entertainment district in nearby Motor Row.

8) Growth of co-working spaces. The combination of a limited supply of small office space and a plethora of start up businesses who crave flexible, move-in ready suites led to the brisk expansion of co-working and shared office facilities. Led by We Work and 1871, these facilities have leased a significant amount of space in A and B class properties and seem to have filled a void in the market.

7) Continued conversions of C-class buildings. The trend of alternative uses taking over C Class buildings was well on display in 2015. Hotel openings in former office buildings include Hyatt Centric The Loop at 100 West Monroe, the largest Residence Inn at 11 South LaSalle and a Hampton Inn at 68 East Wacker Place. More hotels are scheduled to open soon at 360 North Michigan, 39 South LaSalle and 32 West Randolph and residential conversions are slated for 29 South LaSalle and 330 South Wells.

6) Space utilization. After an industry wide shift to primarily open configurations several years ago, 2015 started to see the return of offices and private work spaces. Enough time has gone by to evaluate open office configurations and many firms have concluded that it is not an ideal fit. The work world is now gravitating towards a happy medium where offices are starting to reappear, albeit fewer in number and smaller in size than in the past. Many are being placed in the interior of the space with glass fronts to bring in more natural light and to allow those in workstations to enjoy the window line. Small private rooms called “phone booths” are being used to allow those in the work stations to have a private area to make calls or concentrate when working on an important project.

5) Upcoming property tax hike. Thanks to the ongoing pension and budget crises, the City of Chicago has passed a huge property tax increase that will take hold next year. While the total impact is not yet known, more than likely it will be used as a convenient excuse to raise rents. In most cases, the increases will be passed through directly to tenants. How this impacts leasing activity will be one of the key questions of 2016.

4) Office building amenities. In order to remain competitive, many buildings are starting to act more like hotels in terms of the amenities being offered to tenants. Features such as fitness centers, food courts, Wi-Fi lounges, conference facilities and roof top decks are becoming the norm and something prospective tenants have come to expect.

3) Emergence of new markets. Thanks to Google, the Fulton Market district is one of the hottest in the entire city. Rents are skyrocketing and developers are scrambling to create new office space in order to keep up with the demand. Retail and residential growth is also blossoming as well. Several developers are now focusing on finding the next big thing, with Goose Island and Motor Row the likely candidates.

2) Rent increases. Rents have ascended across the board in all submarkets. Fulton Market has seen rents grow by as much as $12.00 per square foot in some cases, while most other markets have seen more modest hikes in the $2.00 – $6.00 per square foot range as compared to 2014. The Class C market has tightened quite a bit and it has become difficult to find deals under $25.00 per square foot.

1) Sale prices. Downtown office buildings of all sizes sold at record levels in 2015, both in terms of price and number. Total sales exceeded $6 billion, far and away a record. Leading the pack was the Willis Tower, which sold to the Blackstone Group for $1.3 billion. Other noteworthy transactions include the AON Center selling for $712 million, 333 West Wacker trading for $320 million and 111 North Canal for $304 million. Each transaction represented a sizable profit for the previous owner. In order to justify these prices, the new owners typically will upgrade common areas, add amenities and then raise rents in order to justify the prices being paid.

In my next blog, I will put forth my predictions for 2016.

If 2016 is anything like 2015, we are in for quite a ride this year. Here are some of my predictions on what lies ahead in the world of downtown Chicago commercial real estate.

1) Leasing activity will remain strong for the majority of 2016, but activity will start to show some very subtle signs of slowing down towards the end of the year. This will become more pronounced in 2017, with the delivery of new office product at 444 West Lake and 150 North Riverside, in conjunction with shadow space hitting the market as a result of firms vacating space to move to these new buildings. Equilibrium will return to the market due to increased supply and the playing field will become more level for landlord and tenants.

2) 151 North Franklin will be the last new office building constructed in this development cycle. It will be at least another 4 years before ground is broken on the next new office development, with the likely site on the northwest corner of Washington and Franklin.

3) Landlords will be forced to continue raising rents to account for the property tax increase. While most leases typically have some sort of pass through charge where tenants are billed for their pro rata share of the tax increases, Landlords are still forced to cover taxes on vacant space. They will need to raise additional revenue and a rent increase is the easiest way to accomplish this.

4) As a related point, many tenants will be furious once they receive their pass through bills or net rent increases, thereby making life miserable for landlords, property managers and leasing agents.

The increased charges will force several businesses to critically examine their office space needs and evaluate whether downsizing, moving or shutting down altogether is their best option long term.

5) The tax increase will also have a direct impact on retail and residential real estate. Retailers will be forced to raise prices and apartment rents will rise, as Chicago will become one of the more expensive cities in America to conduct business.

6) Sales activity will begin to decline in 2016. Because so many properties have changed hands over the past two years, there are simply not that many left to sell. With many buildings selling at record high prices, there is little to no opportunity to flip them for a quick profit. Instead, most of the new owners seem to be in an “improve the building, lease it up and hold” mode.

7) Firms not in dire need of expansion space will use the upcoming presidential election as a convenient excuse to put off decisions. This is a common occurrence during election years.

8) A notable technology firm will be the first to take the plunge and sign a significant lease in Goose Island, thereby laying the groundwork for this corridor to become the next growth market in downtown Chicago real estate. This effort will be supported by the City of Chicago, who will make necessary improvements for the infrastructure in the area to allow for enhanced access to the nearby North/Clybourn shopping district and Red Line station.

9) A grocery store will sign a lease in the Loop this year to cater to the rapidly growing residential population in the central business district.

10) A combination of the tax increase, high crime rate and sustained issues with the police department and Chicago Public Schools will be cited as a key reason for a significant corporation pulling their headquarters out of downtown Chicago and relocating to either the suburbs or another part of the country.

I will take a look back at these predictions towards the end of 2016 and see which proved to be accurate. With real estate being so unpredictable, I fully expect to be laughed at and asked what the heck I was thinking. Nevertheless, here’s hoping for a year which exceeds everyone’s expectations.

One of the best parts of my job as a commercial real estate broker is not being tied to my desk for 10 hours per day. Typically, I have several meetings every day all over downtown Chicago and I always try to walk to and from these no matter the distance.

By doing this, it helps me keep tabs on the pulse of the city and gives me a chance to clear my head while I mentally prepare for my next showing. Plus, it is really the only form of exercise I get these days.

While roaming the streets with my patented fast-paced steps, I am always fascinated by the vast number of people asking for money; it seems like someone can be found panhandling on just about every Loop corner. Some of these individuals have been parked at the same location for years, while others strategically move from one location to the next. While there are exceptions, most of these people are simply down on their luck and are fairly harmless. Admittedly, I have never taken the time to get to know any one of these people by name, but over time I have started to recognize them as part of the unique fabric that makes up downtown Chicago.

For example, anyone who works in the vicinity of Clark and Madison knows of the “World’s Finest Chocolate Lady” who bellows in an annoyingly boisterous tone for 8 hours a day. Patrons of Ogilvie Transportation Center are likely familiar with the woman who sits on the Madison Street bridge everyday with resumes in hand in case a compassionate person has a job to offer, while politely asking for loose change to help her get through the day. The cast of characters is endless.

Part of me wants to stop and help every one of these people, but I cannot help being skeptical. I will never forget going to a Bulls game at the old Chicago Stadium and seeing a man in a wheelchair begging for money to help with his disability. After the game, I saw a car pull up next to him in an alley and watched him stand up from his chair, fold it up into the trunk and then walk into the car bragging to his friend about how much money he had just made. There was another instance where I gave some loose change to a beggar, only to have it thrown back in my face because it wasn’t enough. I was even scammed once by a sob story that I bought–hook, line and sinker–only to find out later that the guy was a complete fraud. Because of these incidents, I cannot bring myself to donate money to street people anymore.

However, a recent story in the news about one of these aforementioned characters known to many as the “Walking Man” really raised my ire. I have observed him wandering the streets of the Loop, Michigan Avenue, Streeterville, Gold Coast and Old Town for over 20 years. He has a very distinctive look: long, wavy, silver hair (it was black when I first noticed him), a bushy mustache and always clad in a white v-neck t-shirt and a sport coat. He has a mysterious look to him: part distinguished and part disheveled. He generally keeps to himself and never bothers anyone, always seeming to be wandering around with no particular place to go. Often, I have wondered what the story is with the Walking Man. Who is he and how did he get to where he is now?

Fast forward to this week when I was stunned to see a news story in which this man was brutally attacked on Lower Wacker Drive and by all accounts, is lucky to still be alive. The attack was so vicious that he has severe damage to his legs and may never regain eyesight.

As more details came out, though, we learned more about this mystery man. His name is Joseph Kromelis. He is a transient who goes from one homeless shelter to the next and has no family left, other than a nephew and an estranged sister who lives in Alaska. Certainly, he has no money to pay his medical bills and subsequent rehabilitation that awaits.

Everyday, I see stories in the Chicago news that make me shake my head and wonder what the heck is going on in this town. However, the outpouring of support and financial assistance to Joseph warms my heart and shows that in spite of the multitude of issues, we are still, for the most part, a city of genuinely good and compassionate individuals.

The Walking Man’s nephew has set up a Go Fund Me page for his uncle and I have donated some money. While I do not know Joseph personally, he is such a familiar face that I feel like we are old acquaintances. I figure this is as good of a time as any to break my policy.

If you would like to contribute to Joseph, please click here

The scene: The Old Town Ale House, on the southeast corner of North and Wieland. It is a sleepy Tuesday night in October in the city of Chicago. LaSalle Street somberly walks into its favorite watering hole and bellies up to the bar. LaSalle’s old friend, Bobby, is bartending tonight.

LaSalle: Hey, Bobby. Scotch on the rocks and make it a double, will ya?

Bobby: Sure, LaSalle. You seem down tonight. What’s troubling you?

LaSalle: I just don’t get it. First, it was all of the trading firms going away. Then, the Roanoke Building, the New York Life Building, and Barrister Hall all got rid of all their office tenants. Now, Northern Trust, Bank of America AND BMO Harris want to leave me. What did I ever do to them?

Bobby: As Dylan once said, the times they are a-changin’. I guess you can’t stop progress.

LaSalle: Progress my left curb! I am LaSalle Street, damn it! You know, the most prestigious thoroughfare in downtown Chicago? The home of local and national banking headquarters, important financial institutions, the most cutting-edge trading firms and some of the city’s most powerful law firms. If you have a business in one of these industries, you know you hit the big time if your office has a LaSalle Street address. Gaze south down my famed canyon all the way to the Board of Trade, you cannot tell me you are not awed by the brilliant architecture and fascinating histories of each edifice. My street is clearly the place to be!

Bobby: No doubt, it’s been a great run.

LaSalle: Heck, the ‘85 Bears, the greatest football team ever assembled, chose my street for their ticker tape parade to celebrate their Super Bowl XX victory. Ditka, Payton, McMahon, Singletary, Fridge. It don’t get better than that! The ‘05 Sox picked me, too. Get me another Scotch.

Bobby: Coming right up. With all due respect, sometimes you gotta get with the times and adapt.

LaSalle: Adapt? Why? I have the greatest location in the city. Close to the courts, trains, business headquarters. City Hall is right here. So is The Fed. I got it all!

Bobby: Your location is dynamite, La Salle, but technology is changing the way firms office. There is a lot of action west of you right now, especially along the river. People like views of the river, a short walk to the trains, new glass and steel towers with efficient floor plates, and no columns or dropped ceilings. Then there are all the amenities, like rooftop decks, fitness centers, and game rooms…it gets tough for older buildings to compete.

LaSalle: Come on, you’re telling me tenants no longer want dropped ceilings, oversized offices with paneling on the walls, columns, or fluorescent lights with flat acrylic covers? And these views and amenities you mention, people come to work to do work, not stare out the window and play around.

Bobby: These darn Millennials are changing everything.

LaSalle: (staring blankly into his nearly empty glass): You know, I guess I should have seen it coming when all those trading firms started leaving the Board of Trade; then ABM AMRO left 208 South LaSalle, practically emptying out the building. Now there are TWO hotels there, not to mention two more down the street at 39 South and 11 South. Heck, I hear 29 South is even being turned into apartments. Imagine that, people living on my street. I never thought I’d see it.

Bobby: LaSalle, isn’t this a good thing? Beats having empty, worn down buildings.

LaSalle: I guess, but I still can’t understand why all these businesses are leaving. Who’s next?
Bobby: Not everyone is gone. Didn’t CIBC just sign a big new lease at 120 South and Wintrust, too, over at 231 South? Plus, Northern Trust has recommitted to staying at 50 South. These are all big deals!
LaSalle: True. Another scotch.

Bobby:Slow down, big guy. This one’s on me. Then I am going to call you a cab.

LaSalle: Sure, but make it a cab, not one of those Uber things.

Bobby: Look, if I were you, I would view this as an opportunity for a fresh beginning. Just think, you can redefine yourself as a place where people, work, live AND play. Plus, the office component is never going away completely. The Rookery is still one of the all-time greats and very few buildings can compare with the elegance of 190 South and 120 South; 120 North, too, for that matter.

LaSalle: I am proud of those beauties.

Bobby: And look at 1 North LaSalle. The building sold, the new owners tore out ceilings, created a swanky lounge, outdoor space, fitness center, and all kinds of modern amenities. The occupancy shot up and I hear it just sold again for a fortune.

LaSalle: No doubt that’s encouraging, but how are 115 South, 135 South, and 231 South going to survive when their big boys leave? Those will not be easy spaces to lease.

Bobby: They will figure it out. These real estate guys are smart. Maybe they will break the space up into smaller suites. Perhaps they will get lucky and stumble upon a big user, maybe they go residential or hotel or even do co-working?

LaSalle: I don’t get that whole co-working thing, but heck, if WeWork wants to come in and lease 100,000 square feet, who am I to stop them?

Bobby: Keep the faith, good buddy, you have one of the most convenient locations in the city, great history, and amazing architecture; no one will forget about you. It’s simply time to write the next chapter.

LaSalle: Thanks, pal. You always know how to make me feel better. Three scotches don’t hurt either.

Bobby: Anytime. Drop on by to celebrate your next new lease or redevelopment announcement.

LaSalle then stumbles out into the night and hops into a cab, still feeling nervous, but a bit more optimistic about what the future holds.

So, Chicago is going to have a new mayor in 2019. In reviewing the rather uninspiring list of candidates thus far, the thought crossed my mind: what could one of them do to step up to the forefront and win my support? Here are 25 suggestions:

1) Issue an edict permanently renaming 233 South Wacker Drive as “The Sears Tower” and 875 North Michigan as “The John Hancock Center” until the end of time.

2) Macy’s, back to New York you go! Welcome back, Marshall Fields. I miss those green bags. While we are at it, as beautiful as the renovated Sullivan Center turned out, let’s bring back Carson Pirie Scott as well.

3) The city should have never bothered pushing the Block 37 development. Skate on State was just fine. Haul in the hoses and cold weather and lace up those skates.

4) Immediately reconstruct 300 West Washington. I never understood why this building was demolished and the land is still sitting empty 20 years later.

5) Restore service to the State & Washington Red Line station.

6) While on the topic of the CTA, bring back the tokens. No particular reason.

7) There are so many dearly departed restaurants which need to be re-opened. For starters, there is a huge void in the hot dog category. Fluky’s, Demon Dogs, Hot Doug’s and Irving’s shall be reconstituted day one of the new administration. As a side note, declare putting ketchup on a hot dog a Class B felony.

8) Other restaurants that will be making a comeback: Las Pinatas, Ina’s, Basta Pasta, Greektown Gyros (oh how I miss the 3:00 AM gyro, pizza puff, and cheese fry combo), Bones, Chicago Brauhaus, and Sabatino’s (you are not really closing soon, are you?)

9) We cannot leave out the classic bars and taverns that need to reappear: John Barleycorn on Lincoln, McCuddy’s, Life’s Too Short, The Artful Dodger, The Big Nasty (including Elvis on the roof), Thurston’s and Lounge Ax.

10) Grocery shopping? One word: Dominick’s. If for no other reason, so they can bring back the “Let’s Go To The Races” game.

11) Guaranteed Rate Field/U.S. Cellular Field shall permanently be re-christened as Comiskey Park.

12) I like the United Center, but it will never compare to the Chicago Stadium. The real Madhouse on Madison shall be reincarnated.

13) Ozzie Guillen shall be signed to a lifetime contract to manage the White Sox. Same thing with Coach Ditka and the Bears, just so we can enjoy the grand return of “The Mike Ditka Show” starring Johnny Morris before every Bears game.

14) Speaking of Johnny, he along with Bill Kurtis, Walter Jacobson, John Coughlin and ace reporter John “Bulldog” Drummond will be restored as the primary Chicago news team. If for some reason they are not available, we will then take back Ron Majors, Carol Marin, John Coleman, and Marc Giangreco.

15) Son of Svengoolie will return to television every night.

16) On the radio, the Loop AM & FM will be back. Classic rock will be covered on the FM side, while the AM will welcome back Johnny B, Kevin Mathews (with Jim Shorts), Steve & Garry and Chet Coppock.

17) For the kids, Costco in Melrose Park will be razed immediately to make way for the return of Kiddieland

18) Enough of Taste of Chicago. ChicagoFest will be a thing once again.

19) This so-called Jane Byrne Interchange will resort back to whatever it was before. That cannot possibly be worse than the traffic mess we have now.

20) For those needing a place to shop for fine clothing, Bigsby & Kruthers shall reclaim its rightful position on Clark Street. While we are at it, bring back Bigsby’s Sports Bar & Grill, too.

21) Parking meter deal? What parking meter deal?

22) Dibs will be legalized.

23) Celozzi-Ettleson (Where you always save more money!) and Schmerler Ford (Home of the Singing Ford Dealer!) are back in business, just so we can experience the legendary commercials again.

24) Enjoy the grand re-opening of Flip Side and Tower Records. After all, vinyl is in vogue again.

25) On a personal note, 100 West Monroe, 11 South LaSalle, 29 South LaSalle, 39 South LaSalle and 203 North Wabash will become office buildings once again.

If there is a mayoral candidate out there who can deliver on at least some of these items, I will be first in line to cast a vote in their favor. Better hurry, the election is right around the corner.

“Is the Pittsfield Building cursed?” This is the title of the featured article in a recent edition of Crain’s Chicago Business. (Read it here) Without even reading the story, a sea of memories and emotions washed over me. Why? Because I served as the leasing agent for this mess of a tower for 5 long years and lived to tell the tales.

It was 1996: I was fresh into the real estate business and my attire proved it. Right away, my boss decided that my wardrobe needed an upgrade. He took me over to the Kuppenheimer men’s clothing store located in the Pittsfield lobby and after wandering around for a bit, I was absolutely in awe of the spectacular 5-story atrium, marble finishes and history that oozed from every crevice. That day, I told my boss that we had to find a way to get the leasing assignment. It never happened with him, but little did I know what the future would hold.

Four years later, I was awarded the leasing assignment and it felt like a significant step forward in my effort to build the commercial operation of Rubloff. We were quite excited, especially since our appointment was with the promise that the building was about to be declared a Chicago landmark and embark on a substantial renovation. A public relations firm was hired to promote “the rebirth of the Pittsfield” which was to include modernized elevators, mechanical systems and common areas, as well as a scrubbing of the classic facade back to its original color. I was still under the notion that for many years, this classic Loop tower located at 55 East Washington had a rather prestigious reputation—or so I thought.

Our very first day on the job, my late partner, Matt Gould, and I took up every bit of 7 hours to walk through all the vacancies. The list was so overwhelming that we had to assign grades to each space, A – F. For leasing purposes, we decided that only the A and B suites were to be shown, occasionally the Cs, but the Ds and Fs were off limits until they were fixed up.

After a full day of suite grading, we were mentally exhausted and collapsed into the seats of the legendary Pittsfield Café in the lobby. We sat and ate cheeseburgers while we wondered what the heck we had gotten ourselves into. It did not take us long to figure out how dysfunctional this situation was.

I have endured numerous difficult landlord representation assignments over the years, but nothing quite compares to Pittsfield.

Just in the first year, we witnessed the chief engineer getting fired for stealing a conference table in the middle of the night, another engineer getting fired for allegedly reporting a code violation to get revenge against a perceived slight by the building manager, build outs being completely botched or sometimes not even started at all, bills never being paid on time (especially ours), and got stuck in an elevator during a showing with a woman who then started hyperventilating. The overriding source of angst, however, was an owner who made it next to impossible to lease space.

He insisted on using a 32% common area loss factor, applied to existing tenants on renewals (hey tenant, so, your 500 square foot space was remeasured and is now 800 square feet, and your rent is also increasing!) as well as new deals, had a completely overblown view of what the rents should be, refused to fix up vacancies and generally was averse to spending money on just about everything. Deals were few and far between and frustration set in quickly.

When Matt informed me that he was making the switch to another firm, the very next thing I did was resign the account. After 5 years, ridding myself of this albatross was a tremendous relief. Since then, there seemingly have been never-ending efforts to redevelop the building and move away from office use.

Like so many vintage properties in downtown Chicago which recently have received a new lease on life, Pittsfield deserves to have a similar fate. Fixed up with a well-capitalized developer, it would make a wonderful hotel or apartment building; it has an amazing location and there is just too much natural beauty in this landmark for it to waste away. I will continue to sit on the sidelines as an interested observer, hoping for the best – and grateful to not be involved. So, is the building cursed? Well, maybe a little.

I’m going to try to keep this short and simple, so bear with me.

This summer I had an experience like no other. It wasn’t so much the actual labor that was most memorable, but the people and environment that I was surrounded with. This summer I met some amazing people, had some laughs, got rained on more than a couple of times, fell asleep on a train, ate chipotle almost every day, and so much more. But before I get into all of that, I first want to talk about the person that afforded me this great experience.

When I was first told I would be able to work downtown this summer, I didn’t really know what to think. I live 50 minutes or so outside of the city, so the only way to get downtown would be to take the train there and back every day. Then, naturally, I was a little nervous about going to work for someone I had never met before. I had heard great things about Jonathan, but I really didn’t know what to expect. Soon I would come to realize that Jonathan was one of the most honest, sincere, funny, and honorable people I had ever met. The first thing that struck me about Jonathan is that he is one of the most knowledgeable people about the downtown Chicago office market that there is. I remember just walking to a building and on the way Jonathan would tell me the history of the entire area building by building. It amazes me the vast knowledge he possesses in that area. Also, he truly cares about the people he represents. Jonathan always went out of his way to make sure the tenants he put in his buildings had everything they needed. He made sure they were happy with their decision, even if it meant turning away a deal. Jonathan also has to be the hardest working person I know. He puts his all into his company, so it is no surprise that he has such an impressive list of buildings to his name. Everybody he comes into contact with raves about how he handles himself and appreciates the honesty they get out of him as well. I can honestly say that I am so fortunate to have worked for someone who does everything the right way. He has set a great example about what to do to be successful and how to treat people the right way. In the end, Jonathan is someone I look up to and someone I will always consider to be my mentor and role model.

I hope she doesn’t think I’m forgetting about her, but I also worked with another great person named Jillian. The first thing that struck me about Jillian was just her infectious energy. She is the type of person that you want to be around because she is always working and it makes you want to work harder. As the marketing director, she handles the marketing of the buildings, which isn’t always an easy task. But let me tell you, she is very talented. The interactive flyers she creates, along with the edits and videos she makes; everything looks like it had been done by a team of computer nerds working around the clock. But she creates them by herself, and every time I see one I am more and more impressed by her. Her talents and personality will get her very far in life, and it is easy to see what Jonathan saw in her when he first hired her. I couldn’t think of a better co-worker to have for the summer.

I really feel like I have learned as much about office leasing in Chicago as I could grasp. But while rent rolls, vacancy lists, contacting tenants, dimensions, updated websites, and lease expirations are very valuable to know, I learned some other things as well. I would argue, more importantly, I learned a little bit about life and doing business in the real world. I learned that getting caught in the rain happens, and you just have to shrug it off and carry on. I learned that there are some strange people out there who try and pretend to be someone they are not. I learned not to breathe heavy under bridges because of how bad the pigeon stench is. Ok, maybe that last one is a little exaggerated; but in all seriousness the most important thing I learned was how to deal with people.

Watching Jonathan work with people really showed me the right way to do things. I learned that rejection is part of the job, and you are going to get rejected more than you are going to hear yes. I learned that connections are very important, so be nice to everyone because you never know when you may need something from them or run into them again. I also learned to be selfless. Always put the client first, even if that means missing out on a deal. People remember when you do things like that, and most of the time it will come back to help you at some point in your career. Lessons like those and countless others I don’t have time to mention are my biggest takeaways from this summer. As the summer winds to an end, I can say this summer provided me with the greatest experience I could have hoped for. Not only did I learn valuable information about how to lease office space, I learned a lot about life and how to do things the right way. I had the best teacher in Jonathan to help me grasp everything I could, and I met some great people along the way. This is a summer I will never forget. And to Jonathan and Jillian: thank you so much for allowing me to be a part of Willard Jones for the summer.