Brokers in Chicago are still getting in on the action even as the lending crunch and tough times for commercial real estate have led to a sharp slowdown in transaction volume.
JLL gained a multifamily broker but also lost an industrial market leader to Lee & Associates, among other Chicago-area real estate job moves. Read on for more up-to-date information.
➤ Bill Baumann joins JLL’s multifamily housing team as managing director in the brokerage’s Chicago office. He will report to Senior Managing Directors Danny Kaufman and Jaime Fink, who jointly lead the firm’s Capital Markets practice in Chicago.
Baumann previously co-founded Chicago-based multifamily brokerage Monarch Realty in 2016 and has served as the firm’s principal and managing broker since. Monarch co-founder Mike Anguiano will remain the company’s principal and managing broker, according to Monarch’s website.
“We are very pleased to welcome Bill to JLL,” Kaufman said. “His experience and leadership within the industry will immediately add value to our team and clients.”
Baumann will engage in apartment investment sales and financing transactions in Chicago and the Midwest, as well as representing multifamily homeowners and developers. He will work alongside David Gaines, who co-leads JLL’s Private Capital Group.
Prior to starting Monarch, Baumann spent 10 years at Kiser Group, a Chicago-based mid-market multifamily brokerage, and twenty years of commercial real estate experience previously at JPMorgan Chase and UBS.
➤ The Rosemont office of broker-owned commercial real estate services firm Lee & Associates offered dealmakers two pickups, one from JLL and the other from DarwinPW Realty in Elmhurst.
Frank Griffin has joined Lee & Associates in Illinois as head of its Industrial Services Group and will focus on supply chain and logistics assets. He joined Jones Lang LaSalle in 2009 and most recently served as Managing Director, having previously served as Senior Vice President at Grub & Ellis.
Lee’s industrial services team also acquired Todd Hendricks, who left Darwin after seven years as an industrial real estate agent with the firm.
“As Lee & Associates of Illinois continues to grow, the addition of Todd Hendricks to our industrial team will truly complement our firm’s expertise in supply chain consulting and transaction management,” said John Sharpe, Lee’s local principal and president.
➤ Daniel Stevens joins the real estate race to leverage artificial intelligence.
Stevens, director and head of acquisitions at Chicago-based multifamily investment firm Ansonia Properties, joins the advisory board of HelloData.ai, a company developing products to automate real estate workflows, backed by local proptech veterans Led by CEO Marc Rutzen.
Launched in January, HelloData.ai has secured pilot programs for its document extraction algorithm from some of the largest multifamily lenders and investors in the country, according to a press release. Its products extract and analyze data from real estate data sources, including appraisals, offer memos and property photos.
