Urban Land Institute Michigan honors Walbridge CEO with lifetime achievement award

The Urban Land Institute Michigan recently awarded John Rakolta, Jr. with its 2017 Lifetime Achievement Award.

Rakolta, chairman and chief executive officer of Detroit-based Chicago construction firm Walbridge, was honored for his contributions to the real estate industry and Michigan communities.

The award will be presented at a dinner May 18 at the Westin Book Cadillac with top local business and real estate executives as attendees.

Founded in Detroit in 1916, Walbridge has built iconic structures across southeastern Michigan, including the Book Building and Tower, Olympia Stadium, Detroit’s Symphony Hall and the Chrysler World Headquarters and Technology Center.

During Rakolta’s tenure, Walbridge has grown from a regional construction firm with annual sales of $40 million to a global constructor with sales of about $1.5 billion in 2016.