Student Interest in Real Estate Careers Is Growing

Like the real estate market, real estate education is booming in Chicago, as evidenced by DePaul University’s decision to offer a new bachelor’s of science degree in real estate beginning in January. The move makes DePaul the first Chicago-area university to offer an undergraduate degree in real estate, according to Finance Professor Susanne Cannon, director of the Real Estate Center at DePaul.

The new degree was prompted by growing undergraduate student interest in real estate careers as well as strong industry support, Cannon said. By the end of this academic year, about 300 students will have taken an introductory real estate analysis course already offered at DePaul, up from 266 the year before. DePaul expects at least 50 to 75 students to now declare real estate as their major. Cannon said DePaul also has fielded a record number of job listings and placements in the real estate field this year.

“The demand for qualified professionals in all areas of real estate continues to escalate, and the industry is looking for well-educated candidates for these positions,” she said. “This new degree program will produce students who possess a solid, interdisciplinary education that will allow them to adapt to the twists and turns of this evolving field.” Cannon added that the new undergraduate degree is embraced by the Chicago-area real estate industry, including the 40 executives and firms who are founding sponsors of the Real Estate Center at DePaul.

The new degree builds on the Real Estate Center’s well-respected reputation for offering Chicago’s most comprehensive array of real estate education, research and networking offerings. The center already has enrolled 70 students in its graduate degree program in real estate that is offered by DePaul’s highly ranked and fully accredited MBA program. The center also sponsors a professional certificate program in real estate and two annual industry conferences that explore timely industry issues, such as the future of “big box” retail real estate in Chicago, the subject of a Dec. 1 conference that attracted 220 participants.

Students enrolled in the new interdisciplinary bachelor’s degree program will take core liberal arts and business courses, as well as six courses selected from the areas of real estate law, finance, geography, architecture history, sociology and public policy. “The program will prepare students for a range of real estate careers in appraisal, development, geographic information systems, investments, management, planning, public policy and public service management,” Cannon explained.

Students benefit, Cannon said, not only from DePaul’s demonstrated experience in teaching the practical, real-world aspects of the real estate profession, but also from the program’s connections to the real estate industry in Chicago, which is home to many of the industry’s largest organizations and firms. This combination provides a rich environment for internships and career networking, she said.

“The traditional industry adage, ‘location, location, location,’ applies to real estate education as well as real estate value,” Cannon said. “We believe DePaul is well placed, both physically and programmatically, to provide a successful undergraduate degree program in real estate.”

Note to Editors: Reporters interested in interviewing Susanne Cannon can reach her at 312/362-5127.