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CRE Future Leaders: Matt Schapen of OKW Architects
Matt Schapen started at Chicago-based OKW Architects about five years ago as his first job after earning his Masters in Architecture from the University of Illinois Urbana-Champaign. Currently Project Architect for the firm, Matt was a major player in the reimagining of Harlem Irving Plaza, the ground-up construction of the Local 130 Plumbers Union’s mixed-use parking and retail amenity in Fulton Market and the upcoming Homewood Suites in Skokie.

The biggest hurdle to financing commercial deals today? It’s the uncertainty
The uncertainty is the problem. That’s what makes financing commercial real estate acquisitions and construction loans so difficult today. Just ask Fritz Waldvogel, senior vice president in the Minneapolis office of Colliers Mortgage. He says that there is still plenty of interest among investors and developers in commercial real estate. The challenge is making the numbers work, with the uncertainty over rising interest rates scuttling many potential deals.

How CREC achieves strong long-term performance
Fairly often, potential new investors ask us whether our consistently strong investment results are the product of a “secret sauce.” There is no secret sauce, but this question recently triggered an internal discussion to try to define our actual perceived advantage. Our conclusion was that CREC’s superior long-term performance is a result of our size, our ability to be very focused, and our commitment to a highly disciplined investment strategy.

McHugh Construction celebrates 125 years in business
Joining an elite group of successful family-run businesses whose work has spanned across two centuries, McHugh Construction has marked its 125-year anniversary by donating $125,000 to a variety of organizations and installing commemorative window displays of some of its most iconic projects throughout history at its headquarters at 1737 S. Michigan Ave. in Chicago’s South Loop.

Interra Realty brokers $2 million sale of multifamily property in Melrose Park
Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the sale of a 29-unit multifamily property in Melrose Park, Illinois, for $2 million. The property 1123 N. 33rd Ave., was a 1031 exchange and traded for the equivalent of $69,000 per unit.

Draper and Kramer employees receive individual industry honors
Draper and Kramer, Incorporated has announced two employees recently received individual accolades for their work in the industry. Colleen Needham, assistant vice president and regional manager, was recognized with a Multi-Housing News Excellence Award as Property Manager of the Year, and Tasha Rush, property manager at the company’s Aspire Residences in Chicago, was honored with a Real Estate Management Excellence (REME) Award as ARM® of the Year by the Institute for Real Estate Management (IREM) at its October Global Summit in Dallas.

Peak Realty Chicago sells two three-flats in Bucktown and Logan Square for a total of $1.94 million
Peak Realty Chicago (PRC) closed on two three-unit turnkey properties in the same week, selling both buildings to private real estate investors for a total of $1.94M.   

cura interiors, within Dallas architecture firm “three” launches
Following the addition this year of Sarah Bay, RID, IIDA as Director of Interior Design, national architecture firm three has announced the formation of cura interiors, a studio devoted to the creation of inspiring environments for clubhouses and workplace settings.

Marcus & Millichap sells 90,935 combined square feet of self-storage space in Northwest Indiana
Marcus & Millichap brokered the sale of a Northwest Indiana U-Stor-It portfolio and development, a combined 90,935 square feet of self-storage space located in Crown Point and Merrillville, Indiana.

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