Terry Lynch learned to fly airplanes before he learned how to drive.
That’s because his family has always had a history with aviation. His grandfather was once a pilot who started the first business of what is now Midway Airport, in 1928, and later, Lynch’s father took over the business in the 70s. His brothers also got involved in the field and now have their own pilot’s licenses. Interestingly, one of them married his flight instructor and the other went on to write three books on Chicago aviation. But as for Lynch himself, he quickly realized that wasn’t in his future plans after working at Midway fueling commercial jets.
He realized the life of a pilot wasn’t as glamorous as the “golden age of aviation” made it out to be, and he also didn’t like his clothes reeking of jet fuel (can we blame him?).
Instead, he found himself in the IT industry before making it to commercial real estate. Lynch, current vice president of Chicago’s Paine-Wetzel TCN Worldwide, now opens up about some of his most memorable journeys throughout his personal and professional career in a Q&A with Chicago Industrial Properties.
So you didn’t like aviation. How did you find your way into real estate?
I always liked real estate. Before my real estate career I was business development in the software/IT industry – I was part of the dot-com boom and eventual bust in San Francisco. In the software/IT industry you deal with code and algorithms that eventually creates something, but real estate—in my eyes—is much more tangible. When I moved back to Chicago a friend of mine, Fred Regnery, was newer in the business and understood my background. He suggested I talk to some people and learn more about the industry.
On my third day on the job, Jeff Girling drove me to an industrial park to show me some buildings. We noticed a car driving slowly and writing down info from “For Sale/Lease” signs. We literally pulled the guy over, got out of the car and started talking to him. Three months later he closed on a 50,000-square-foot building. That quickly taught me the power of “walking the beat” and getting out of the office. You have to get out there and see the industry. You never know when or where you might find an opportunity.
What aspect of the industry appeals to you most?
I truly appreciate the fact that our industry allows us to have access to so many different types of businesses and their distinct operations. When working with a new client, I try to figure out as much as I can about their operations, whether real estate related or not, just to provide a 360-degree aspect of how I can help them grow or streamline their business moving forward.
What can you say is the biggest lesson you’ve learned from working in this business?
You have to take risks. You have to take chances. You have to understand you will hear “no” but you keep going. What would have happened if Jeff and I had not pulled that guy over? He would not have been our client.
Best piece advice you’ve ever received?
Another broker told me “create money through brokerage; create wealth through equity”. What that means to me is get involved in real estate besides straight brokerage. It also helps me think like a landlord when many of my clients are landlords.
On a more personal note, what do you like to do outside of work?
The first thing I do is try to spend as much time as possible with my family. Work can be a demanding role for anyone and when I can, I try to make sure family time takes precedence outside of work. My wife, Jenny, and I have 3 little kids, 8, 6 and 4. Those are really fun ages.
What’s one of your greatest accomplishments outside the industry?
Quite honestly it is as simple as my wife and family. My wife probably does not want me to say that she was an “accomplishment,” but most of my friends think she was for me.
“Something about me that not many people may know, is that…”
Before I headed back to Chicago from the dot-com bust and entered the world of commercial real estate, I circumvented the globe by myself for one year. I literally gave all my possession away, downsized to a backpack and headed out. I ultimately visited 26 countries.
Twenty-six countries on your own is impressive! Is there a city in particular that’s been unforgettable?
Siem Reap Cambodia, just outside the city is the ruins of Angkor Wat, an ancient city that was abandoned and swallowed by the jungle. It was found again in the 1860s. I took me a full day traveling in the back of a pickup truck over a crater filled, dirt-road to get there from Thailand. We could not wander off road for the threat of land mines courtesy of the Khmer Rouge from the 1970s. I always tell people trekking is not about going from point A to point B, but the journey between. Also, a close second is Queenstown, New Zeeland, is a very cool destination; I have been there twice and would go back again in a heartbeat.
You’re given a once-in-a-lifetime opportunity to meet one political figure. Who do you choose and why?
Ronald Reagan. In today’s environment of political discourse and vitriol, I miss the quiet demeanor and soft spoken voice of Reagan. It is partly generational. While growing—up in my eyes—he looked more like a grandfather figure as opposed to the president of the free world. Hearing him talk made you feel like everything was going to be okay. Now it’s about sound bites and carefully crafted third-party tweets.
What’s at the very top of your bucket-list?
Climb Mt. Everest, visit Antarctica, hike in Tibet, etc. I tried to visit Tibet when I was traveling but the Chinese Government made it very difficult at the time.
