17th Annual Trends Workshop Event
- Details
- Category: Latest News
Continuing our long tradition, RPBG presented the 17th Annual Trends Workshops in January. It seems that every time we do the Trends Workshop, it attracts more people and grows in popularity. This year was literally the biggest and the best. Almost 150 people registered to attend, so many, in fact, that we had to cut off pre-registration.
Sheryl Rosenberg went out of her way, preparing an excellent brochure explaining the what’s, why’s and how’s of the event as well as a list of event sponsors. We had a long list of sponsors this year. We are truly grateful for their support without which this event would not be possible. Here is the list:
Diamond Sponsors:
- Alpha Adjusting – Dorian Bezanis
Platinum Sponsors:
- CIC – Jack Crane
- Becovic Management Group – Sal Becovic
Gold Sponsors:
- Cagan Management Group, Inc. – Bryan Cagan
- Lakeside Bank – Chris Manley
- Loyola University – Jennifer Clark
- MCL Properties and Management – Marty Max
- Marcup & Millichap – Steve Rachman
- Xfinity Communities – Andy Schnack
Silver Sponsors:
- Albany Bank – Pat Mulcahy
- Chase Commercial Term Lending – Tony Benedetto
- Field Loss Consultants – Sam Fields and Carl Moose
- First Eagle Bank – Rich Heathfield
- Marcus & Millichap – Steve Rachman
- Marquette Bank – Patrick Tuohy
- Raila & Associates – Andrea Raila
- Rent Butter – Tom Raleigh
- Winnemac Properties – Allen Smith
For the main event, attendees divided into small-group tables. Each table was asked to predict what the world would look like two years down the road, responding to seven questions that all dealt with the economy and the Rogers Park real estate market:
- The closing value of the Dow Jones index.
- The unemployment rate for the State of Illinois.
- The average interest rate on an apartment building in Rogers Park.
- The average price/SF of a condo unit in Rogers Park.
- Typical marketing time for a condo unit in Rogers Park.
- The average apartment rent in Rogers Park.
- The average price per unit for an apartment building in Rogers Park.
The “tie-breaker” questions were – in 2022, what will the ARO set-aside percentage of affordable units be in new developments with rezoning approval or city assistance? And second – in 2022, will the CRLTO still require property owners to provide tenants with security deposit interest rate information on an annual basis even when no security deposit is collected from the tenant?
After answering all of the questions, the information was collected from each table and tabulated for view on an overhead projector. There were a variety of opinions, reflecting the level of optimism or pessimism about the state of the market among the attendees. In this election year, there seemed to be a fairly even split between cautious optimism and mild pessimism.
At the end of the evening, moderator Pat Mulcahy of Albany Bank assembled some of the table leaders to discuss results and opinions. The talented line-up of table leaders came from a wide range of professions and were able to provide insights into various aspects of the Rogers Park real estate market and other subjects.
RPBG President Mike Glasser wrapped up the evening with the announcement that the winner of the Trends Workshop two years earlier was Clayton Maxfield from Essex Realty Group. While this was Clayton’s first win, it was the second win for Essex in as many years after Doug Imber’s win in 2019.
As always, whether you’re an economic optimist or pessimist, there doesn’t seem to be any disagreement about the Trends Workshop and what a great event it has become. The Trends Workshop is a perfect venue for networking and making new friends in a room full of great people, all while enjoying delicious food and an open bar. The Annual Trends Workshop continues to be our signature event. We can make a pretty good claim that this year’s was the best ever.
