Real estate players may be riding the choppy waves of the 2022 market on Chicago’s inland sea like Captain Ahab, yet the behemoth antagonizing them isn’t a white whale but instead a property tax bill.
That’s how panel moderator Jim Jann of JAB Real Estate blasted the latest tax assessments Thursday night at the 33rd annual Real Estate Forum hosted by Lincoln Park Builders.
Midmarket brokers, developers and other industry players gathered at the Theater on the Lake to gladhand and catch up at the open bar and around high-top tables, enjoying signature cocktails like the Musick Mule, named for event sponsor Musick Loss Management.
Glasses were full and spirits were high throughout the evening.
The forum featured Jarrell, Inc.’s Michele Jarrell, Wildwood Investments’ Matt Katsaros, Horizon Realty Group’s Jeffrey Michael and Marquette Companies’ Nick Ryan.
Fulton Market developer Jeff Shapack was also honored by the group with the 2022 Impact Award. His efforts over the past decade have reshaped the transformative neighborhood with projects that include Soho House Chicago, WeWork Fulton Market flagship, The Parker Fulton Market, The Hoxton Hotel, 811 Fulton, Momotaro, Shake Shack, and 167 Green.
The panelists griped about their other white whales, including ever-rising interest rates, increased construction and utility costs and the city’s Affordable Requirements Ordinance. Jann held court with a 1950s radio announcer voice and a red-checked houndstooth jacket and metallic gold Oxfords to match, which contrasted with Shapack’s trendy and understated gray wool jacket and black polo shirt.
Though Chicago has been taking a lot of waves over the bow, pride in the Windy City was in full sail. And attendees indulged in a bounty of dinner offerings. The menu included dishes inspired by signature plates at popular local restaurants Girl & The Goat and Au Cheval.
But the party didn’t stop when the lights came on at 10:00. Many attendees jumped into cars to keep the conversations and fun going while sipping cocktails at Corcoran’s bar and grill in Old Town.
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