Chicago: Dark Storm Clouds Always Have Silver Linings

As the Dow Index dipped below 7000, so did the majority of consumers’ confidence and expectation for an early bounce back and return to economic recovery, especially in our own real estate industry.

However, yesterday was also one of the most special days in my personal career, and also for all my colleagues, as we were recognized as the number one firm to work for in Chicago. It is each individual that makes the difference.

As the reporter, and his camera man who visited with us noted: “With all the dismal news we report upon these days, it is gratifying to have one story to report that is positive, and be surrounded in an environment where smiles were predominant.”

Small successes will start to filter through, and just as in four previous, major recessions, it will be the small business entrepreneur who will frame the recovery with their clear vision of opportunity.

I do believe we will start to see, as early as the second quarter of this year, the genesis of many new small firms. The majority will emerge from the demise of some large, well established organizations, that in many instances lost that innovative, and easily adaptive business model that earlier was the basis of their creation and growth.

In one of my early blogs, I discussed the value of smaller footprint Chicago buildings – the ones that are most suited to giving start up firms a prominent identity on a floor.  The second opportunity will come from sciences and technologies we can’t even comprehend today, but they will derive new industries, and a need for office, industrial and related commercial space.

Today, think smaller – those buildings will be the first to come to the investment market, and help to re-establish a pricing model, and this is a great time for a small floor plate building owner, to look at their product as a new competitive advantage, and capture the next wave of growing tenants.