Illinois Real Estate Journal October 2014 : Page 1

VOL.16 NO.11 ©2014 LAW BULLETIN PUBLISHING CO. OCTOBER 2014 Southeast Wisconsin’s By Bianca N. Herron, Editor DIRECTORIES (pg.25): blazing hot trend continues Green Sustainable/Products & Services, Real Estate Investment, Real Estate Law Firms, Top Brokerage Firms T By Bianca N. Herron, Editor A Tale of a Changing Market he choice of office location in the greater Chicago area depends on the employer’s priorities. The suburban office mar-ket remains strong, offer-ing lower rental rates and Chris Wood proximity to O’Hare air-port, as well as to executives’ homes. For compa-nies like high-tech enterprises that need to attract a certain workforce demographic to help them grow their businesses, the search is on for skilled young professionals. Members of generations X and Y prefer urban lifestyles, and are taking their talents to jobs in the cities. IREJ spoke with Chris Wood, DTZ executive vice president and manag-ing director of the company’s brokerage business in Chicago, in order to get an overview of the downtown real estate market in Chicago from an executive with expertise in that market. OFFICE FEATURE (continued on page 12) Uline’s Corporate HQ’s expansion ince the start of 2013, Kenosha County’s in-dustrial development activity has been nothing short of amazing. According to the Kenosha Area Business Alliance (KABA), major projects involving approximately 4,000 jobs, over $800 million of Capital Investment, and roughly 6.5 million square feet of new development or absorption have been announced in the past 20 months. Todd Battle, President of the Kenosha Area Business Alli-ance, said that industrial development in the area is as strong as it has ever been right now. “The industrial market is very strong and active in Kenosha County,” he said. “We have had a healthy mix of development which has included a number of manufacturing and distribu-tion projects.” S The City of Kenosha and the Village of Pleasant Prairie have captured the majority of this development activity thus far. “Those two communities are located along Interstate 94, and are in very close proximity to the Illinois/Wisconsin state line,” Battle said. “So there’s a fair amount of development activity that’s coming into Southeast Wisconsin. I think it’s generally viewed by the community, as well as the state of Wisconsin, as very positive and healthy. There’s a lot of private investment that is generating construction activity and new facilities, more employment opportunities, and an expanded tax base for local units of government.” According to KABA, Kenosha County’s unemployment rate has been cut in half in the last four years, falling from a peak of 12.9% (Feb. 2010) to 6.1% (May, 2014). The county’s unemploy-ment rate should remain low based on all of the development SOUTHEAST WISCONSIN FEATURE (continued on page 19)

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