Nov 02, 2005
Why Does Naperville Boom? How Will Elgin And Lemont Bloom?
Chicago Suburban Retail and Development Trends Will Be Explored at Dec. 1 Symposium
The once sleepy downtowns of many Chicago suburbs are being transformed into bustling hubs of retail and residential activity, with big box stores, chain coffee shops, restaurants, wine bars and condos moving to Main Street. What do these trends mean for Chicago suburbs that have already seen phenomenal growth – and for communities seeking downtown redevelopment?
These issues will be explored at a symposium, titled “Suburban Chicago Goes Urban: Trends & Pitfalls of the Retail Revolution,” from 8:30 a.m. to noon Dec. 1 in the Harris Bank Auditorium, 115 S. LaSalle St., 8th floor, in Chicago. The event is co-sponsored by the Real Estate Center and Chaddick Institute for Metropolitan Development at DePaul University and the International Council of Shopping Centers.
“This is a timely subject because suburban cities, towns and villages are recognizing that retail is the key driver for downtown redevelopment—a phenomenon that poses both great opportunities and risks for everyone involved,” said Susanne Cannon, the Douglas and Cynthia Crocker Director of the Real Estate Center at DePaul, who will host the symposium.
Chaddick Institute Director Joseph Schwieterman, a DePaul professor of public service management and an expert on transportation and land-use issues, will moderate the discussion of converging national trends that are turning suburban retail development into the hottest new market. “We’ll explore the needs of – and issues facing – city planners, developers, brokers, retailers and market analysts, as well as ways they can work together to take advantage of this powerful economic opportunity,” Schwieterman said.
The program features a series of individual speakers, with discussion following each address. Speakers will include:
Carol Gies, president of 4Insights, Inc., will discuss a recently completed economic impact study of downtown retail in Naperville that sheds light on how retail affects communities beyond tax dollars. Gies has 25 years of management experience in marketing, planning and research for brand retailers, restaurants and shopping centers.
Ray Moller, director of economic development for the City of Elgin, will discuss Elgin as a model for forward-looking redevelopment planning. The eighth-largest city in Illinois has introduced hundreds of new residential lofts, town homes and condominiums, as well as commercial and retail space, to its Center City, and recently completed Riverwalk and Festival Park projects along the Fox River.
John LaMotte, principal of The Lakota Group, will share his views on suburban development from his perspective as a city planner with 27 years of experience in land use planning, urban design and economic development. He has directed a wide range of corporate, commercial, industrial, institutional, mixed-use and community planning projects for private and public sector clients.
Peggy Blanchard, principal of PF Blanchard, will explore the relationship between suburban municipality needs and tenants’ and brokers’ objectives. With 20 years experience in municipal planning, Blanchard has previously been community and economic development director for the towns of LaGrange, Highland Park, Downer’s Grove and Barrington.
Bruno Bottarelli, managing partner of Marquette Development, will discuss the Chicago Town Builders Collaborative, a consortium of developers, architects, designers, civic financiers, community advocates and trends specialists who are collaborating to redevelop “live-work-play communities.” He is currently partnering with the City of Lemont in their redevelopment and retail planning process.
Allen Joffe, principal and managing broker; Gregory Kirsch, principal; and Bill Selonick, vice president, Baum Realty, will discuss suburban retail real estate trends. Joffe has successfully negotiated and managed lease transactions for more than 40 clients, including Jared – The Galleria of Jewelry, Morton’s Restaurant Group, Omaha Steaks, Boston Market, McDonald’s, Kay Jewelers and Ace Hardware. Kirsch has completed more than 50 transactions on behalf of Starbucks Coffee, 40 transactions for HealthSouth Physical Therapy and more than 180 transactions for Washington Mutual, and he exclusively represents FedEx Kinko’s and Caribou Coffees locally. Selonick helped Washington Mutual with its aggressive market rollout in the Chicago area and represented Panera Bread in more than 55 completed transactions.
The registration fee is $125 per person for the half-day symposium, plus an optional $60 to join the speakers for lunch in Harris Bank’s executive dining room following the program (lunch is limited to 50 people on a first-come, first-served basis). RSVP by Nov. 28 by contacting Kathleen O’Hare, Real Estate Center at DePaul, at 312/362-7211 or kohare@depaul.edu. For more information, visit the center’s Web site: www.realestate.depaul.edu.
Note to Editors: Reporters interested in covering the symposium should contact Robin Florzak, DePaul Media Relations, at 312/362-8592 or rflorzak@depaul.edu .
