Even with tight lending and tough times for commercial real estate resulting in dramatic slowdowns for dealmaking volume, brokers in Chicagoland are still making moves.
JLL picked up a multifamily broker, but also lost an industrial market leader to Lee & Associates, among other Chicago-area real estate job changes. Read on for more on the latest.
➤ Bill Baumann joined JLL’s multifamily housing team as a managing director in the brokerage’s Chicago office. He’ll report to Senior Managing Directors Danny Kaufman and Jaime Fink, who co-lead the firm’s capital markets division in Chicago.
Baumann previously co-founded Chicago-based multifamily brokerage Monarch Realty in 2016, and served as the firm’s principal and managing broker since. Monarch co-founder Mike Anguiano remains with that firm as a principal and managing broker, according to Monarch’s website.
“We are very excited to welcome Bill to JLL,” Kaufman said. “His experience and leadership within the industry will be an immediate value-add to our team and clients.”
Baumann will work on both apartment investment sales and financing deals in Chicago and the Midwest, while representing multi-housing owners and developers. He will work alongside David Gaines, who co-leads JLL’s Private Capital Group.
Before starting Monarch, Baumann worked 10 years for Chicago-based midmarket multifamily brokerage Kiser Group, and has two decades of commercial real estate experience after previously having positions with JPMorgan Chase and UBS.
➤ Broker-owned commercial real estate services firm Lee & Associates’ Rosemont office made two pickups for dealmakers, including one from JLL and another from Elmhurst-based DarwinPW Realty.
Frank Griffin joined Lee & Associates of Illinois’ as a principal with its industrial services group, and will specialize in supply chain and logistics properties. He was with JLL since 2009, where he was most recently a managing director, and was previously a senior vice president at Grub & Ellis.
Lee’s industrial services team also gained Todd Hendricks, who left Darwin after seven years as an industrial real estate broker with the firm.
“As Lee & Associates of Illinois continues to grow, the addition of Todd Hendricks to our industrial team will really round out our firm’s expertise in supply chain consulting and transaction management,” John Sharpe, Lee’s local principal and president, said.
➤ Daniel Stevens is jumping into real estate’s race to harness artificial intelligence.
Stevens, acquisitions director and principal for Chicago-based multifamily investment firm Ansonia Properties, hopped onto the advisory board for HelloData.ai, a company that develops products to automate real estate workflows led by CEO Marc Rutzen, a local proptech veteran.
HelloData.ai launched in January, and the company has secured pilot programs for document extraction algorithms with some of the country’s largest multifamily lenders and investors, according to a news release. Its products can extract and analyze data from real estate data sources, including appraisals, offering memos and property photos.
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