CBRE chairman, Bob Wislow, announced that he and CBRE vice chairman, Camille Julmy, are forming a new, boutique real estate venture, Parkside Realty, Inc. The real estate veterans will maintain their portfolio and develop new projects, such as an office building they are developing in Fulton Market.
“As Camille and I have each passed our 70-year-old marks, we have decided the time has come for us to establish a small, family-run office to oversee the real estate assets we developed, renovated and purchased over the past 40 years, and to concentrate our time on expanding our portfolio of holdings and creating new buildings,” Wislow wrote in a statement. “In these endeavors, we will maintain a solid working relationship with CBRE and continue to collaborate on our commercial real estate work and clients with the people we have learned to so highly regard at CBRE.”
The two recently broke ground on Fulton East, a 12-story, 90,000-square-foot office and retail building at 215 N. Peoria Street, in the heart of Chicago’s Fulton Market District, scheduled to deliver by spring 2020. They are partnering with Clayco and its in-house architecture firm, Lamar Johnson Collaborative, for design-build services.
Wislow and Julmy founded U.S. Equities in 1978, growing the firm into Chicago’s largest privately owned commercial real estate services firm. They successfully merged with CBRE five years ago, bringing more than 400 U.S. Equities employees under the umbrella of the international real estate services and investment firm. The new firm, Parkside Realty will keep office space at 20 N. Michigan Avenue, a former furniture store and warehouse that the pair converted to offices. The new venture will launch August 1, 2019.
