For the third and final session of the outstanding Young Leaders Small Group Discussion series, Related Midwest gave a presentation on “Executing on a Vision” to a sold-out audience of ULI Young Leaders. The presentation featured some renowned members of Related Midwest staff, specifically Curt Bailey, President; Don Biernacki, Senior Vice President – Construction; Will Tippens, Vice President – Planning and Entitlements; Tricia Van Horn, Vice President – Marketing; and, ULI Young Leader, Nick Anderson, Vice President – Acquisition and Development.
Curt began the presentation by providing a brief overview of Related Midwest’s history, and how the firm came to be such a prominent player in the Chicago real estate market. He also provided his perspective on some of Related’s most recent deals (the record sale of OneEleven West Wacker, the leasing success of 500 North Lake Shore Drive, the plans for 451 East Grand, and even the slightest of hints on plans for the highest of high-profile Chicago Spire Site at 400 North Lake Shore Drive). Curt’s candid perspective on the market and how asset development strategy is a crucial driving component of building design (i.e. efficiency in an apartment building) gave the Young Leaders in attendance a rare glimpse into the mind of one of Chicago’s most renowned Real Estate Developer’s.
After Curt’s overview, the rest of the team (Don, Will, Tricia, and Nick) gave an in-depth case study presentation into the wildly successful OneEleven West Wacker project. Nick provided details of the Acquisition strategy and timeline of events, as well as behind-the-scenes details on the previously stalled “Waterview Tower” project including what lead to the failure and the problematic aspects of the original design. Will provided information on the challenges with redesigning a building that was already partially complete, as well as the unique solutions the team came up with to meet those challenges. Don gave an in-depth look into the construction challenges created by those “unique solutions” specifically the pouring of a 5’ thick Mat Slab, 27-stories above street level, with all the building mechanical, electrical, and plumbing chase’s running through the slab! Finally, Tricia closed with a view into the Leasing and Marketing strategy for the building, and what she saw as the major contributors to this strategy’s success.
Related’s presentation was so gripping and engaging that the team eventually had to stop taking questions as the presentation moved past 2.5 hours in duration! The audience was enthralled by the insider information and deal specifics Related provided, and was truly captivated by the skillful presentation by Related. This session was the perfect capstone to this highly successful series.
Authored by Matthew Olsen, Turner Construction Company