‘Experiential retail,’ 1031 exchanges, MIPIM among commercial issues discussed in DC

(l to r) REALTORS® Christopher Schramko, Deena Zimmerman and Mark Goodwin.

Illinois REALTORS® commercial members are busy in Washington, DC at the NAR Legislative Meetings and Trade Expo alongside their residential colleagues.

Illinois REALTOR® Global Business Council Chair Alex Ruggieri, CCIM led the NAR Commercial Real Estate Forum where items such as the MIPIM conference in Cannes, France next March and the Swanepoel Commercial Alert Report were presented. CAR member and NAR Commercial Liaison Deena Zimmerman shared her thoughts on an emerging commercial real estate trend called “experiential retail” where shopping now has become more than just a transaction, it is an experience.

NICAR leaders Mark Goodwin and Christopher Schramko attended the forum and then headed to Capitol Hill to meet with U.S. Reps. Randy Hultgren and Mike Quigley. Their expertise on 1031 exchanges, depreciation and infrastructure was an added value to the conversation.

Illinois REALTORS® Treasurer Dan Wagner also was on hand at the meeting with Senator Dick Durbin to explain the 1031 exchange and its importance to real estate and the U.S. economy.

PACE bill unanimously approved in Illinois Senate; on to Gov. Rauner

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On Wednesday afternoon, the Illinois Senate unanimously approved House Bill 2831, the Property Assessed Clean Energy (PACE) bill.  The bill will now be sent to the Gov. Bruce Rauner for his consideration/signature.

The legislation creates the Property Assessed Clean Energy (PACE) Act to provide for this innovative financing mechanism for specified energy efficiency improvements on commercial and industrial properties. A city or county may establish a clean energy program and create a PACE area by entering into a voluntary assessment contract with the property owner to finance or refinance energy projects.

The repayment of the costs of the energy project are through assessments on the property. Key safeguards include:

  • recording of the voluntary contract,
  • requirement that there be written consent of the existing mortgage holder,
  • contractors agree to adhere to terms and conditions established by the unit of local government,
  • property has no delinquencies,
  • owner is current on all mortgage debt, and
  • amount of the assessment in relation to the greater of the assessed value of the property or the appraised value cannot exceed 25 percent.

BGA names award after REALTOR® Goodwin

Daniel L. Goodwin

The Better Government Association (BGA) announced that its annual Watchdog Award will be named after its 2016 recipient, REALTOR® Daniel L. Goodwin, chairman and chief executive officer of the Inland Real Estate Group of Companies, Inc., of Oak Brook.

BGA made its announcement May 3 at the Richard H. Driehaus Foundation Awards for Investigative Reporting in Chicago.

When honored in 2016, BGA recognized Goodwin for his advocacy for government reform in Illinois, as well as his lifetime achievements in business, philanthropy, economic development and civic engagement. Also, BGA noted his work as DuPage Airport Authority chairman should serve as a national model for government working in the public’s best interest.

On April 24, Goodwin received the first Lifetime Achievement Award ever presented by Illinois REALTORS®, at the RPAC Pacesetter VIP Event at the Abraham Lincoln Presidential Museum. The event helped kick off the 2017 Capitol Conference and REALTOR® Lobby Day.

 

Ruggieri uses economic symposium to bring people together

Ruggieri

REALTOR® Alex Ruggieri of Ramshaw Real Estate in Champaign helped organize and facilitate a panel discussion during an economic development symposium Thursday at the University of Illinois – iHotel Conference Center in Champaign.

The sixth annual event is designed to bring together community members, government leaders, corporations and academics to develop collaborative strategies using real estate, anchor institutions and talented workers to accelerate economic development in the University of Illinois Urbana Champaign region.

The first panel discussion, “’Place-making’ Economic Development through RE Innovation and Inclusion,” included:

  • Jim Schultz, Intersect Illinois;
  • Laura Frerichs, Director, Research Park and Economic Development, University of Illinois;
  • Jeannette Tamayo, Regional Director, U.S. Economic Development Administration;
  • Alexei V. Tchistyi, PhD, University of Illinois, Director – Office of Real Estate Research;
  • Calvin L. Holmes, President, Chicago Community Loan Fund; and
  • Thomas Osha, Managing Director, Wexford Science & Technology.

The second panel discussion, “Optimizing Real Estate Assets for Enterprises & Human Capital in Communities,” included:

  • Tom Anderson, Global Product Owner, Real Estate Lifecycle Management and Cloud 4RE, SAP; and
  • David J. Wilk, CRE, MAI, National Co-Chair, SVN Corporate Real Estate Services & Adjunct Faculty, Real Estate and Infrastructure, John Hopkins Carey Business School.

Special guests were:

  • U.S. Rep. Rodney Davis (video);
  • Champaign Mayor Deborah Frank-Feinen;
  • Jeffrey Brown, Dean, University of Illinois College of Business;
  • Kreg Allison, Director, Division of Real Estate, State of Illinois; and
  • Roger Cannaday, Associate Professor Emeritus, University of Illinois College of Business.

Goodwin awarded first Lifetime Achievement Award by Illinois REALTORS®

Daniel L. Goodwin

REALTOR® and Inland Real Estate Chairman Daniel L. Goodwin received the first-ever Illinois REALTORS® Lifetime Achievement Award Monday night during a special ceremony at the Abraham Lincoln Presidential Museum in Springfield.

“Throughout its more than 100 years of existence, Illinois REALTORS® has never had an award for Lifetime Achievement but that changes tonight,” said President Doug Carpenter as the association kicked off its annual Capitol Conference & REALTOR® Lobby Day. “The award is given for an ongoing – relentless – impressive body of work on behalf of the industry and those who rely on it.”

“I am proud to be a REALTOR® in Illinois tonight,” said Goodwin.

He thanked leaders of Illinois REALTORS® for the recognition, and he urged elected officials to listen to the concerns of his colleagues. Contrary to popular opinion, he says elected officials he has worked with have been very honest, hard working men and women. He urged REALTORS® to thank elected officials for their efforts, which include long hours and little financial rewards.

The featured guests included Illinois Gov. Bruce Rauner,  House Speaker Michael J. Madigan, Senate Republican Leader Christine Radogno, House Republican Leader Jim Durkin and former House Speaker Lee Daniels.

A former teacher in Chicago Public Schools, Goodwin helped found Inland Real Estate and grow the Oak Brook-based company into what it is today. He’s chairman of the New Directions Housing Corporation (Lombard), a non-profit 501(c)(3) tax exempt charitable corporation that has built and rehabilitated almost 400 multifamily housing units so low income individuals could afford safe, decent and sanitary housing. New Directions has also worked with other groups to provide food, after-school care for children, immunizations and more to the people it serves. Watch a video about Goodwin and his career.

Goodwin was chairman of Northeastern Illinois University’s board and was vice chairman at Benedictine University. In 2015, he received the Good Neighbor Award from REALTOR® Magazine.

He’s a member of the National Association of REALTORS® RPAC Investors Hall of Fame, the NAR President’s Circle, the Illinois REALTORS® Hall of Fame and the Chicago Association of REALTORS® Hall of Fame. He is the founder of Retail Properties of America REIT and is chairman of the National Association of Real Estate Trusts Non-traded REIT Council. He is a director of the Chicago Better Government Association.