Commercial: Will the business of ‘going green’ follow Chicago’s lead?

Understanding phrases like “energy-use benchmarking” and the ramifications of a recent ordinance passed in Chicago will make “going green” increasingly important to you and your clients, says one Chicago REALTOR® in the October issue of Illinois REALTOR® magazine.

Angela Aeschliman, the chief operating officer for Watermark Property Management in Chicago and a past president of the Northern Illinois Commercial Association of REALTORS®, says the Chicago ordinance creates new standards for property owners and managers of commercial, municipal and residential buildings, as well as anyone who buys or sells.

In June, owners/managers of buildings with more than 250,000 square feet submitted their first reports on energy consumption, water usage and greenhouse-gas emissions to the city.  In June 2015, owners of buildings with between 50,000 and 250,000 square feet will provide similar reports.  The data will be measured by U.S. Environmental Protection Agency software and must be verified by a licensed architect, engineer or other professional recognized by the city.

The city will be able to share individual building performances next June and Aeschliman says the information could increase competition for more energy-efficient properties.  How quickly these concepts spread to suburban Chicago and the rest of the state will be watched closely by the IAR, local associations and their members.

Read the whole story, “The Growing Business of Going Green,” which includes client concerns about the costs of “going green.”

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