in civilianlife. animpact are now making their country, these40vets Antitrust settlement would lethealthplanscompete Blues isbrewing A battleofthe nities forChicago-based Health such competition. agreed that arule to loosen barred Blue Cross Blue Shield Association er’s markets. Under thedeal, the Cross plans to invade each oth- of anantitrust case would free Blue companies inthebusiness. among ofthemost powerful some never had before: competition about tosomething they’ve get NOTABLES at would create big opportu- A tentative $2.7billionsettlement Health insurance markets are BY STEPHANIE GOLDBERG VOL. 43,NO.45 NEWSPAPER l : Having served Having served PAGE
39 l ALL RIGHTSRESERVED l l COPYRIGHT2020CRAINCOMMUNICATIONSINC. insurer. up newgrowth pathways forthe restraints onacquisitions, opening on non-Blue business linesand settlement liftsarevenue also cap Health andCigna. e proposed non-Blue like rivals Humana, CVS fully national insurer onpar with markets across asa thecountry and Texas—would free be to enter Montana, New Mexico, Oklahoma owns Blue Cross plans inIllinois, ond-largest Blues operator—which in recent years. e nation’s sec- to struggling revbeen upgrowth Corp.,Care Service which has REAL ESTATE : Home sellers are adding COVID-era amenities to attract buyers. amenitiesto attract Home sellersare addingCOVID-era CHICAGOBUSINESS.COM turf. In theory, thatturf. could In lead theory, ter more competition onitsown Blues plans, itcould encoun- enter thestrongholds ofother Just free would be to asHCSC ever, comepotential threats. The Cross Blue Shieldbuilding Blue With new opportunities, how- See See pandemic. the during opportunities ho A leaderdiscusses incivictech Need anantidote to uncertainty? CHICAGO COMES BACK | NOVEMBER 9,2020| NOVEMBER | BLUES w technology isunlocking technology THE CLASS OF 2020 on Page 54 PAGE 4
ALAMY $3.50 help findsolutions vanquished, bizmust With the‘fairtax’ ONBUSINESS JOE CAHILL T those problems.those found political clout to tackle ers. can theirnew- Orthey use tinuing scal problems to oth- winter andleave Illinois’ con- head downto Florida forthe done,each well otheronajob make. caney congratulate an important to decision inthisstate. decisions icy leadership can shape key pol- tivated, mobilizedbusiness tax proposal showedthat mo- Now business leaders have FORTY UNDER ker’s graduated income he defeat ofGov. J.B. Pritz-
Lyric Opera. the board of woman to chair Meet thefirst PAGE 6 THE TAKEAWAY nois still has $137billionin tax didn’t x anything. Illi- ing thegraduated income See See from his “fair tax” loss? lessons willPritzker learn DAVID GREISING: pensions andcorruption. hard choices on nances, GREG HINZ: Keep inmindthat beat- PAGE 2 See See
PAGE 18 CAHILL Loss forces on Page 4 What What PAGE 3
JOHN R. BOEHM 2 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS Pritzker must stand up—and not just to enemies ne of the earliest, and most they’ll point to the big successes e e ect of those failures on the accurate, things I heard his dialed-down manner achieved amendment campaign was brutal. Oabout Gov. J.B. Pritzker is in his rst two years. e governor With visions of crooked Spring eld that while he certainly has beliefs got just about everything he wanted dancing in their heads, voters were GREG HINZ and principles and is prepared to from the General Assembly. And easy prey to the argument that ON POLITICS work to enact them, he tempera- though his health- rst approach Spring eld couldn’t be trusted with mentally is a nice guy, someone to curbing COVID has been more more tax money, even tax money who would much prefer to work contentious, I think the gover- from rich people spending millions things out than engage in messy nor’s approach of talking quietly to protect their pocketbooks. reporter’s question, he signaled whatever his virtues, the longtime public spats. while carrying a big stick has been Now the governor will have to that Madigan ought to resign his speaker and state Democratic chair Maybe it’s time the governor sent e ective. choose between raising other taxes, party leadership position. But it now is toxic. Pritzker needs to as his nice-guy persona on vacation. But things played out di erent- on the middle class in the middle was hardly a call to arms. And if well, lest he su er the same fate as After the loss of his agship ly with the “fair tax” battle. e of a pandemic, imposing harsh Pritzker lets Madigan continue to Illinois Supreme Court Justice Tom graduated income tax amendment, measure was defeated because budget cuts, or punting and hoping play him, nothing ever will change Kilbride, who lost his retention race Pritzker is in for the ght of his life, Pritzker failed to confront Spring- Washington will come to the rescue in Spring eld—unless someone is amid ads dubbing him “Madigan’s eld corruption and with a major COVID-relief bill. All indicted. Consider that, in the wake favorite judge.” THE GOVERNOR IS IN FOR THE FIGHT cronyism. He still won’t carry political and economic risks. of the election, a Democratic-run “We have to address this,” Pritz- call out House Speaker e governor can reduce those special House panel once again in- ker said right after the election, OF HIS LIFE, AND IT WILL BE NASTY. Michael Madigan, he risks by demanding that employee de nitely postponed plans to hold referring to the state’s precarious still won’t demand groups do their share—there’s still a hearing on the ComEd scandal. nances. “ is is the most import- and it will be as nasty as a kni ng ethical reforms that should have that plan to repeal the Illinois Con- e excuse: COVID. But isn’t it ant thing we can do.” in an alley. At risk is his agenda, his been enacted months ago, and stitution’s pension clause that he convenient that no hearing will be He’s right. Now please, sir, do it. re-election and the future of the he still won’t squeeze employee could get behind—and by demand- held until after Madigan lines up at means dealing with the two el- state. Winning the ght is going to unions that are happy to take overly ing Madigan begin his exit. the votes to get himself re-elected ephants in the room: Madigan and mean standing up—and not just to rich pensions until the end of time Pritzker took a small step in speaker? pensions. If you don’t, you could his enemies. instead of coming to the table and the right direction days after the Madigan’s caucus is beginning nd an elephant in your oce in Now, if you talk to Pritzker & Co., giving something back. election when, in response to a to wake up to the reality that, two years. e next test ahead for the governor .B. Pritzker campaigned for Never mind the mystical, manip- notch above junk status, and ratings governor two years ago on the ulative powers of the “billionaires” agency Moody’s on Nov. 4 warned Jstrength of his proposal for a whom Pritzker villainized at the that the vote against the tax could graduated “fair tax” to replace Illi- press conference. Voters could have negative implications for the DAVID GREISING nois’ at-tax structure. He won with see on their own that the state’s state’s credit rating. 55 percent of the vote. scal pressures would provide It was reassuring to hear Pritzker ON GOVERNMENT His proposal—touted as a tax strong incentive for raising taxes say he is determined to avoid a hike a ecting only the top 3 percent at ever-lower income levels. And downgrade. Last spring, the Legisla- of the state’s income earners—went by targeting narrower numbers of ture gave him authority to sell bonds Juliana Stratton threatened a 20 with voters. e biggest test of his before voters Nov. 3. Fifty- ve per- voters, the political cost would be to cover state operating expenses if percent income tax increase hike leadership as governor—how he cent voted against it. less than under the current system the “fair tax”—and its projected $3.4 during the campaign; Pritzker has responds in the aftermath of this It was a crushing turnabout for in which all voters are a ected by a billion in annual net new revenue— talked about 15 percent budget cuts, major setback—is coming in the a rst-time elected ocial. Among tax increase. failed to pass. too. ose cuts are overdue, and weeks ahead. the questions now: What lessons Pritzker singled out a “lie” that Issuing those bonds likely would with the loss on the amendment does Pritzker draw from his rst passage of the graduated tax plunge Illinois’ credit to junk status, behind him, Pritzker will have new Crain’s contributor big loss, and what does he do in amendment would lead to taxation and Pritzker would be wise to resist incentive to nd them. David Greising is response? of retirement income—currently the temptation for a bond issue or e governor has every right to president of the Pritzker’s initial comments, at a tax-exempt under Illinois law. But it any other gimmicks. be disappointed, even angry, that investigative watch- press conference the day after the was State Treasurer Mike Frerichs, We can expect a tax hike: Lt. Gov. his most notable proposal failed dog Better Government Association. election, signaled his frustration a Democrat, who put the issue at over the failure of his cornerstone the center of the debate. Frerichs policy objective. He accused his in June publicly acknowledged that opponents of lying, stirred division passage of the graduated tax might between the wealthy and the rest, clear the way for taxing retirement and depicted opposition as a Re- earnings. Frerichs later walked back publican scheme. He focused par- that statement, but the damage was done. IT WAS A CRUSHING TURNABOUT A reporter asked if At Wintrust, your banker knows you. voter distrust in govern- FOR A FIRST TIME ELECTED OFFICIAL. ment—and in House Speaker Mike Madigan You have someone to ticular scorn on the “billionaires” in particular— gured into the who bankrolled the opposition. result. “ e other side told the lies that Madigan, more than any gure, count on. they told. A lot of people believed is the architect of Illinois’ scal dis- them, and that’s too bad. Now we’re tress: passing unbalanced budgets going to have to su er the pain that for decades; taking “holidays” on they brought on,” Pritzker said. pension payments; systematically To cast the result that way is to underfunding pensions in other misunderstand the depth of op- ways. And now he is at the center position to an idea that was key to of a broad federal investigation into Pritzker’s election—then two years public corruption in Illinois, though later was rejected by more voters he denies wrongdoing. than those who elected Pritzker in Pritzker didn’t bite on the Madi- the rst place. gan question. He remains mostly When times got tough, more than What changed? loyal to a key political patron. It didn’t take “lies” from the But he promised action on ethics 11,000 local businesses knew they opposition to make voters wary of reform and acknowledged the trust could rely on us to secure PPP loans. giving the Legislature in Spring eld problem more broadly. “ ere is Start the conversation at freer latitude to raise taxes. Pritz- enormous distrust in government wintrust.com/meetus. ker’s plan initially targeted only the all the way around,” he said. top 3 percent of the state’s income Whatever lessons Pritzker takes earners, but the amendment of- away from his setback, what matters fered no protections against a future most is what he does with the loss. Banking products provided by Wintrust Financial Corp. banks. middle-class tax hike. Illinois’ credit rating is just one CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 3
Rehabber Basant Khanna Law firms nished the attic space in a home near the 606 trail into a livable third oor. drive a pro bono wave Top- ight rms boost volunteer work—but it’s not entirely altruistic
BY STEVEN R. STRAHLER
e phenomenon of lawyers working for free—not as rare as you might think—is catching re because of the con agration known as 2020. Interest in the practice, termed pro bono—for the (public) good— has surged during the pandemic. e Black Lives Matter movement, changes in immigration policy and potential election interfer- ence are only a few of the drivers NO PLAYBOOK besides COVID-19. So far this year, 450 lawyers have contacted Legal Aid Chicago for assignments versus 300 for all of 2019. HOME SELLERS ADDING More law rms, including Den- FOR THIS HOLIDAY tons and McDermott Will & Em- ery, have partners running pro bono e orts full time, signaling a growing embrace of a role that doesn’t generate fees. COVID-ERA AMENITIES Hours devoted to free legal PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS services by law rms nationwide doubled in the late 2000s but then That swimming pool that once made a house hard to move? It’s a must now. BY DENNIS RODKIN atlined at about 5 million hours each year, according to an indus- AS THEIR EMPTY NEST YEARS APPROACHED, Paula and ed to keep the pool intact, saving somewhere try group that tracks the data. Jay Gitles always expected that before they put between $10,000 and $20,000. eir home of Firms like Chicago’s Jenner & the family home in Glenview on the market, the past 23 years is now on the market, at just Block and Winston & Strawn think they would ll in the swimming pool. under $850,000, represented by Linda Levin of it’s time for another push. e four-bedroom house on Indian Road had Jameson Sotheby’s International Realty. Jenner says it will devote $250 a pool when they bought it in 1997. “We enjoyed As the coronavirus crisis wears on and peo- million (in billable-hour equiva- having it for our kids,” says Jay Gitles, a commer- ple start to wonder if the lifestyle changes it lents) to pro bono over ve years, cial real estate attorney, “but we know that his- has prompted will be lasting ones, some sell- starting next year. at pace torically having a pool can eliminate your house ers and homebuilders are making changes equals about 10 percent of reve- from consideration” by buyers who don’t want to their properties that they expect will make nue, when the average is 4 percent the upkeep expenses or the safety issues. the homes market-ready. It’s 2020’s version of for rms reporting numbers to the e pandemic year changed the couple’s painting those dated cherry kitchen cabinets Pro Bono Institute. plan. Many people who want a tness and rec- white and other quick xes designed to appeal Winston, meanwhile, plans to reation amenity at home include swimming pools in their house hunt. e couple decid- See AMENITIES on Page 10 See PRO BONO on Page 8 Who will lose in Loop’s game of musical chairs? is now at stake amid a historic As new o ce towers rise, old ones at the core face uncertain future public health crisis and thorny ONE LINE HED questions about when workers BY DANNY ECKER Nine months ago, landlords cording to brokerage CBRE. will once again ll its streets. losing those tenants had a good Normally landlords could jus- “I think it’s going to be a blis- Downtown Chicago has an chance of re-leasing the oors tify reinvesting in obsolete space, tering turn for a lot of these empty o ce building prob- left behind to companies clam- betting they could lure new com- buildings, and it’s going to be a lem that may linger long after a oring for urban workspace. But panies and inject life into their while,” says Chicago developer COVID-19 vaccine arrives. now they’re staring down a se- properties. But owners with John Murphy, who has rede- e newly completed 55-sto- verely depressed market: e large looming vacancies have veloped older downtown prop- ry tower at 110 N. Wacker Drive, coronavirus crisis has already only highly risky options in front erties into hotels, among oth- redeveloped Old Post O ce and sapped demand for downtown of them with no end to the pan- er uses. As new buildings pull 50-story tower under construc- o ces, and changing employee demic in sight, meaning those tenants from elsewhere in the tion next to Union Station are habits could erode a portion of spaces—many of which are in market, “we just don’t have the combining to pull more than 3 it for good. In the meantime, 5.3 the Loop—could remain empty traction in Chicago that will take million square feet of tenants out million square feet of new down- for a long time, commercial de- up what’s left behind.”
of other, mostly outdated down- town o ces are under construc- velopers and brokers say. at’s e amount of space GROUP COSTAR town buildings, the typical fall- tion today, only 37 percent of a threat to the future of a central 135 S. LaSalle St., the building Bank of America is out when the skyline expands. which has been pre-leased, ac- business district whose vitality See OFFICES on Page 55 leaving for a new Wacker Drive tower. 4 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS CHICAGO COMES BACK JOE CAHILL ON BUSINESS State now needs a better plan to fix its fiscal problems
CAHILL from Page 1 pension system and other budgetary problems. But legis- unfunded pension liabilities, lation requires votes, and most chronic budget shortfalls and of the votes in Spring eld a looming revenue crisis aris- belong to Madigan. ing from the coronavirus. Despite their willingness to e graduated income tax write big checks against the was Pritzker’s plan to address graduated income tax, Illinois’ these troubles. It wasn’t the business elite has put up rel- right plan for the times, and it atively little cash to challenge ISTOCK deserved to lose. Madigan’s hold on legislators. Now Illinois needs a better As my colleague A.D. Quig plan. Who better to help wrote in Crain’s, Gri n gave An antidote to all this uncertainty devise one than a newly en- $53.8 million to ght the tax gaged and in uential business proposal but only $600,000 to community? legislative candidates this year. Consider how technology unlocks opportunities to improve the way we manage Illinois’ nancial woes call Zell and former Aon CEO Pat for innovative new approach- Ryan each donated $1 mil- resources and public spaces. A leader in civic tech tells how that’s happening now. es. Business is good at innova- lion to the anti-tax cause but ideas to utilize large downtown tion. is is an opportunity for nothing to legislative hopefuls, BY EMILY DRAKE AND TODD CONNOR spaces in new ways. business leaders to put those records show. Chicago Comes Back is a weekly series on ChicagoBusiness.com pro- skills to work for the bene t Perhaps conservative viding leadership insights to help your business move forward, written ED: is reminds me of our con- of the entire state. It’s also megadonors gure any money by leadership consultants Emily Drake and Todd Connor. versation about the role of the arts a chance to show that their spent against Madigan on Drake and Connor facilitate Crain’s Leadership Academy. Drake is in our recovery and the idea that campaign against the “fair tax” his turf is a bad investment. a licensed therapist, owner of the Collective Academy and a leadership every person, every organization was about more than self-pro- Sure, Madigan has looked coach. Connor is the founder of Bunker Labs and the Collective Acade- and every sector has a role to play tection. omnipotent for decades. But my and is also a leadership consultant. in the big problems. I think of it as Ken Gri n and Sam Zell recent developments suggest Check out previous installments at ChicagoBusiness.com/comesback. a question of, with the power and had an obvious personal vulnerability. With federal in uence you have, what will you interest in blocking a proposal prosecutors circling his op- TODD CONNOR: I know what a lot ple, we’re partnering with cities, do? Amid all of this, and the appre- that likely would have add- eration, the speaker needs to of leaders are talking about right large and small corporations, and ciation for what we need from the ed millions to the tax bills of tread carefully. Tuesday’s vote now, and rightfully so. is election academic partners to increase ac- government, do you think the role appears to have reduced will be profound. I’ve found part of cess to COVID testing by tackling of leaders in the public sector will WHO BETTER TO HELP DEVISE his supermajority in the the salve for the uncertainty is ac- cultural barriers at the community evolve? House by a couple of seats, tion. Speci cally, taking steps to level; we’re helping entertainment ONE THAN A NEWLY ENGAGED despite the millions he make our cities—and Chicago spe- venues welcome back guests in BB: Government evolves as cul- spent trying to expand it. ci cally—happier, healthier and safe and healthy ways; and we’re tures change, and today, the role BUSINESS COMMUNITY? Madigan-backed Supreme more productive. Just as business- supporting mobility providers and function of government is be- Court Justice Tom Kilbride es are designing the new normal, while they manage their capacity ing as disrupted by technology as moguls like themselves. ey lost his seat in a hail of attack so, too, are city and state agencies within social distancing guidelines. much as any other industry. Tech- moved against it with im- ads launched by a group fund- that have had to adapt to support- nology can transform government, pressive alacrity, marshaling ed by Gri n, Richard Uihlein ing their constituents virtually. I’m TC: at government is moving but only if each level of the govern- nearly $60 million and airing and others. Another clear sign excited to connect Chicago Comes into action, in partnership with you ment embraces it. We need leaders a series of television commer- of Madigan’s waning power Back readers with Brenna Berman, and City Tech, is something I nd who can harness disruption and cials that persuaded voters to came when Pritzker called on former chief technology o cer for really inspiring. It’s an antidote to forge innovations for government reject a state constitutional him to step down as head of the city of Chicago who now leads what I think a lot of us are feeling: that align with how our culture is amendment that would have Illinois Democrats. City Tech Collaborative, where they dismay or disillusion, even apathy. evolving. is requires people who allowed higher tax rates on With Madigan back on his are coming at this happy, healthy We can’t aord to stay in those feel- are forward-looking, engaged, ex- higher incomes. heels, business leaders have an conversation from a technology ings if we are to make the come- perienced, courageous and hon- True, the ght played out on opening to gain in uence in perspective. Imagine that? Marry- back Chicago deserves. You’ve est. e role of government in our ground favorable to a private the Legislature by bankrolling ing technology with happiness! been at the forefront of applied lives is evolving, and that evolution group with lots of money to candidates committed to scal technology for government solu- requires talented men and women spend. Because the proposed reform. If they let it pass, Madi- EMILY DRAKE: I know, it’s sort of a tions. Where are you seeing units willing to lead sel essly. amendment required approval gan and Pritzker will control radical thought. Brenna, welcome of government accelerating their in a public referendum, their the response to a worsening to the space. I love to hear from adoption of technologies? TC: Change is happening, always— Coalition to Stop the Proposed nancial crisis that threatens Il- leaders about what they’ve realized sometimes quickly, sometimes Tax Hike was able to take linois’ ability to maintain basic working in a COVID world—in BB: Technology actually becomes slowly. As a nal thought, any take its case directly to the deci- government services. other words, what they’ve doubled more critical to solving problems on what the “new normal” will be? sion-makers—Illinois voters. Pritzker has already warned down on and what they’ve cast when resources are scarce, and In uencing legislative of deep cuts and a tax hike. aside as it relates to leadership. governments across the world at BB: e pandemic has provided decisions in a Statehouse Both would be bad for busi- COVID has been clarifying for so all levels are struggling to do more an opportunity to rethink our pro- controlled by Michael Madi- ness. e titans who defeated many, for better or for worse. I with less. To go back to COVID spe- cesses, models and cultural norms gan is a lot harder. e speaker the graduated income tax imagine you could not have known ci cally, we see governments using without any of the expectations rules Spring eld for a simple should come forward with how important your leadership technology to enable core activities that might have limited innovation reason that business folks comprehensive alternatives and mission would become during like COVID data analytics, tracking in the past. I think it is too soon to can well understand: money. for preserving the government COVID. What has changed for you and tracing. Tech is also unlocking declare exactly what the “new nor- Many legislators owe their services people expect and and the focus of your work? opportunities to improve the way mal” will be six or 12 months from seats to the massive political stabilizing the state’s nances we manage resources and pub- now. For me, it is more important campaign war chests Madigan without burdensome new BRENNA BERMAN: Taking the op- lic spaces in light of COVID. Two to take this opportunity to think oversees. If they cross him on taxes. And they should put real portunity to re ect has been key for great examples from right here in about what is best for my organi- an important policy matter, money behind legislative hope- me. Cities have been hit hard by Chicago include the Chicago PPE zation’s clients, my team and the those dollars could shift to a fuls who support their ideas. the eects of the virus, which are Market that the city and World residents that we serve. Time and primary opponent in the next Sure, it’s a tall order and taking a toll on urban economies, Business Chicago launched with again I come back to a hybrid that election. likely a long, expensive ght. communities and cultures. Big local startup Rheaply, to help small keeps the best of the past and lets Like it or not, the road to But if business leaders shrink problems require inclusive solu- businesses and nonpro ts nd the me adopt the best of the future. My real reform in Illinois runs from it, their victory over the tions, and City Tech’s approach PPE they need to reopen safely. touchstone terms right now are through Spring eld. It will graduated income tax could to multisector, multistakeholder And City Tech recently announced “ exibility” and “hybrid.” I hope to take legislation to x the state’s become a hollow triumph. collaboration absolutely applies to the Millennium Gateway Testbed see a similar approach in the civic the current pandemic. For exam- Challenge to generate the best tech community. Your business is always on. Your internet should be too.
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20cb0417.pdf RunDate 8/31/20 FULL PAGE Color: 4/C 6 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS THE TAKEAWAY Sylvia Markowicz Neil
In September, Neil became the rst woman to chair Lyric Opera of Chicago’s board. Neil, 68, has served on Lyric’s board for 11 years and spent a year as chair-elect before becoming board chair. She is a law lecturer at the University of Chicago. Earlier this year, Neil and her husband, legal scholar Dan Fischel, established Lyric’s Heroes’ Fund, which has raised north of $10 million to o set the nancial damage of COVID-19. Neil and Fischel live in the Gold Coast. By Lisa Bertagnoli >
Lyric has a history of powerful women in charge. It has been an organization powered by women like (founding General Manager) Carol Fox, (longtime General Director) Ardis Krainik and board members like Shirley Welsh Ryan. There was something natural about there being a woman as chair—it didn’t feel internally like it was some sort of diversity breakthrough, the way organizations long and exclusively controlled by men might. >
How did you come to love How did you get the idea opera? for the Heroes’ Fund? I came to Chicago When (Lyric Chief Advance- in 1973 to go to ment O cer) Elizabeth Hurley law school. My told me that there was a then-boyfriend’s potential $27 million loss for father bought the 2019-20 season because > me a ticket to “La of the cancellation of three Boheme” at Lyric. That Ring Cycles along with musical production—Pavarotti as Rodolfo, and chamber opera, Dan and snow on the stage—I was mes- I decided to become new merized and blown away, and I production sponsors of the have not missed a year ever since. Ring and ask others to do the
same. We turned to folks who > had sponsored the canceled productions and asked for a re- What’s your opera dream committment as outright gifts season? that we then used as a match- “Dead Man Walking,” “La Traviata,” ing challenge to encourage “La Boheme,” “The Marriage of ticket buyers to donate their Figaro,” “Dido and Aeneas,” “The seats. A number of extremely Pearl Fishers,” “Don Giovanni.” I like generous donors also followed operetta as well, so “The Pirates of suit with new gifts. Penzance.” >
How have you been getting your culture x during the pandemic? My husband and I have enjoyed the Metropolitan Opera channel, and we have also turned to YouTube. I am a sucker for what Lyric puts out with its twice-weekly email blasts. >
In your crystal ball, what does Chicago’s arts scene look like a year from now? Chicagoans are very generous. The longtime supporters of Lyric, CSO, the Art Institute, the Jo rey will sustain our cultural institutions through the pandemic. Audiences are very interested in coming back to live perfor- mances. The future is bright: a vibrant scene, more diversi ed. >
More diversi ed? During my year of being chair-elect, I was able to be intimately involved with IDEA, Lyric’s program of embracing and advocating diversity within our own company. Another project, Lyric Unlimited, breaks out of the walls of Lyric with diversifying experiences before diverse audiences. We can do things more systemical- ly. That careful approach will, in the long run, bring about change. To our NorthShore heroes and the communities we serve, THANK YOU.
In this season of sharing gratitude, I am inspired and thankful for the heroism of our NorthShore physicians, nurses, researchers and team members on the front lines every day.
No one could have predicted 2020’s challenges: the uncertainty of COVID-19, a global recession, and the painful reality and awakening of racial and social turmoil. In each instance, we moved quickly, leaned on one another and marshaled the resources of our entire system to protect our patients and support our team members.
Through this journey, we’ve learned about ourselves and the vital role we play across the communities we’re privileged to serve. We embrace the opportunity to continue improving, while taking pride in our impact when it matters most.
When NorthShore became the fi rst healthcare system in the state to develop an in-house COVID-19 test, we shared it with our patients as well as neighboring hospitals and the Illinois Department of Public Health. We converted one of our hospital campuses to exclusively support COVID-19, keeping patients and staff safe while delivering outcomes that exceeded state benchmarks.
To make sure the best care remains local, we’re pursuing innovative partnerships to improve the health, well-being and equity of care delivered across the communities we serve. The addition of Swedish Hospital into the NorthShore family affi rms our commitment. This crucial safety-net provider now has even more resources to serve some of the most diverse neighborhoods in Chicago.
We look forward to welcoming Northwest Community Healthcare to NorthShore as we continue to grow and ensure that community-based healthcare remains vibrant and essential to the well-being of those we serve for decades to come.
We’re all neighbors. Thanks to you, NorthShore can fulfi ll its promise to provide exceptional, innovative care that is community-connected, convenient and always prepared for what’s next.
With gratitude,
J.P. Gallagher President and Chief Executive Offi cer
northshore.org
20cb0563.pdf RunDate 11/9/20 FULL PAGE Color: 4/C 8 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS Is McDonald’s doing enough to protect workers? Employees have led lawsuits and formal complaints since the pandemic took hold. The company says crew and managers’ ‘safety and well-being are top priorities.’
BY ALLY MAROTTI McDonald’s has denied such al- public safe,” he says. “And there- legations throughout the pandem- fore, what happens? Well, workers Since COVID-19 took hold ic. e company says in a state- will take it upon themselves” and in March, McDonald’s workers ment that it put measures in place le complaints and lawsuits. around the country have led com- at its 14,000 locations in the U.S. to Since the start of the pandemic plaints and lawsuits and staged protect workers from COVID-19, through Oct. 22, OSHA has cited walkouts, alleging the fast-food gi- including wellness checks, pro- 144 establishments nationwide for ant failed to keep them safe even tective barriers, adhering to social violations relating to the coronavi- as they were designated essential distancing guidelines and distrib- rus, according to its website. Most workers. uting more than 100 million masks. have been to health care facilities, Now, nearly eight months into Roughly 850,000 people work at its such as hospitals, rehabilitation the pandemic, some McDonald’s restaurants and corporate oces centers and nursing homes. e ci- workers say they still don’t feel safe in the U.S. tations have resulted in proposed
on the job. “Crew and managers are the heart penalties of more than $2 million. BLOOMBERG An employee at a McDonald’s in and soul of the restaurants in which OSHA inspections have helped the Gage Park neighborhood led they work, and their safety and ensure more than 634,000 workers “Instead of protecting workers, the spread of COVID-19. a complaint last week with the fed- well-being are top priorities that are protected from COVID-19 since the federal government has taken e order in the Illinois lawsuit, eral Occupational Safety & Health guides our decision making,” the Feb. 1, a Labor Department spokes- the line of guring out how to lis- which is ongoing, required sev- Administration. e complaint statement says. “Since COVID-19 woman says in an email. From ten to and take the word of com- eral McDonald’s locations to ad- alleged six employees were in- began impacting the U.S., McDon- then through Oct. 19, the agency panies like McDonald’s . . . when equately train workers on proper fected with COVID-19 at the loca- ald’s USA has updated nearly 50 received more than 10,810 com- workers that are working the (cash mask wearing and social distanc- tion, some of whom came to work processes to keep restaurant em- plaints and referrals. More than register) and cooking the food are ing, and to notify workers immedi- “sick and contagious,” potentially ployees and customers safe and has 9,000 have been closed, but each actually putting their lives on the ately when management becomes spreading the disease. issued a 59-page guide outlining na- complaint has been investigated. line,” she says. aware of a COVID-19 case. A McDonald’s worker in Califor- tional standards for restaurants.” McDonald’s has not received a e Labor Department spokes- Ryan Grin, a lawyer represent- nia led a similar complaint with citation from OSHA, according to woman says in an email that em- ing the Chicago workers involved the California Division of Occupa- LITTLE REGULATION the agency’s website. OSHA has six ployers are responsible for provid- in the case, says he hopes to make tional Safety & Health and the San- Workers are turning to lawsuits months to investigate complaints. ing workplaces free from health those protections permanent. ta Clara County Public Health de- and other formal complaints amid e Fight for $15 and a Union, a and safety hazards. Cases and complaints will like- partment late last month, alleging the pandemic in part because movement that has worked to or- “OSHA conducts investigations ly continue as the pandemic pro- multiple co-workers were forced to there is little governmental regu- ganize McDonald’s workers, has and issues citations in accordance gresses, particularly against big work with visible COVID-19 symp- lation of COVID-19 safety recom- led many of the e orts to le com- with well-established and long- companies like McDonald’s, says toms, potentially infecting others. mendations, says Bob Bruno, pro- plaints and lawsuits against the standing procedures and legal Daniel Rodriguez, a professor at e franchisees from each lo- fessor of labor and employment chain. e group has counted at standards,” she says. “Removing Northwestern Pritzker School of cation say in statements provided relations at the University of Illi- least 250 OSHA complaints against workers from hazards and achiev- Law. ough the size of such com- by McDonald’s that they have ef- nois at Urbana- Champaign. McDonald’s related to COVID-19 ing compliance with the OSH Act is panies can make implementing forts in place to protect employees’ “Historically, there simply is no safety violations. ere have been the goal of all enforcement activity.” COVID-19 safety protocols chal- health, such as wellness checks and evidence that if left to their own several lawsuits as well. Some workers are seeing wins. lenging, it’s their corporate respon- enhanced cleaning. e Gage Park discretion, that private businesses Allynn Umel, national organiz- Judges in California and Illinois sibility to protect workers, he says. location operator says employees are going to create the level of pro- ing director for Fight for $15, crit- have ordered McDonald’s loca- “It shouldn’t take a long line of are asked to stay home when sick tection that is going to suciently icized OSHA for not being harsher tions in their states to immediately lawsuits to . . . make that happen,” and are o ered paid sick leave. keep workers or consumers or the on McDonald’s. take steps to protect workers from he says. Chicago law firms boosting pro bono work
PRO BONO from Page 3 Piper. “ e business case is actually for a perceived focus on “progres- expanding.” sive” causes, as well as from the boost annual pro bono hours to Pro bono counsel from Chicago left, which argues fat-cat rms 100,000, from 70,000, over three to law rms who used to meet quarter- should be doing more of the same. ve years and double the portion ly at best started convening weekly “Lawyers are now much more (to about 40 percent) devoted to (virtually, of course) after the pan- afraid to press the envelope than racial equity and justice, says pro demic hit. Cases are assigned faster, they were 40 to 50 years ago,” says bono counsel Greg McConnell. reducing, for instance, a backlog of omas Geoghegan, a labor lawyer Jenner’s pledge seems in line cases at the National Immigration representing low-income school with what it’s already doing— Justice Center and expanding cov- districts suing Gov. J.B. Pritzker enough to put it perennially atop erage to 26 from 20 states. over the state school aid formu- American Lawyer magazine’s pro “It’s a support group as much la. “We’re not in the age of heroes bono rankings. as anything else,” quips Jonathan anymore.” “It’s in our DNA,” says Katya Jes- Baum, director of pro bono services Even so, 66 law rms last year tin, a co-managing partner. “We’ve at Katten Muchin Rosenman, be- had designated partners to helm been in Guantanamo (representing fore adding in a more serious vein: pro bono work exclusively, com- detainees) since the very begin- “I’m not talking about a pat on the pared with half a dozen in the
ning.” back. I’m talking very constructive 1990s, according to DLA Piper BOEHM R. JOHN Not that pro bono programs are advice we give each other on how data. Yet only 11 of the 66 were eq- Elizabeth Lewis heads pro bono at McDermott Will & Emery. purely altruistic, or without critics. to deal with our challenges.” uity partners—those who share in Volunteering burnishes reputa- rms’ pro ts and are exposed to Ketcham. Steven Blonder, princi- Park by two-thirds. Many clients tions, supports client causes and NETWORK any losses. pal at Much, says pro bono clients lack smartphones. provides experience for junior as- ere’s a lot of brainstorming, “ ese positions are becoming are relying on the rm’s corpo- In another sign of the times, sociates who in more pro table guring out what is possible, says more and more institutionalized,” rate-law expertise to incorporate Jenner this month said pro bono times, before clients objected, Elizabeth Lewis, a McDermott says Dentons pro bono partner rms and apply for government chair Andrew Vail would become would be larded on to litigation and partner who heads pro bono. A Ben Weinberg. loans. Legal Aid Chicago is tack- the United Way of Metropolitan deal teams. problem as big law rms get big- e crisis also is giving smaller ling expungement of criminal re- Chicago’s general counsel on a pro As corporate clients pay more ger—potential con icts among rms, which historically haven’t cords for drug o enders, accord- bono basis, as the agency takes on attention to sustainability issues matters involving pro bono and contributed as much to pro bono, ing to Melissa Picciola, director of a bigger role in pandemic-recovery and environment, social and gov- paying clients—is partially allevi- more opportunities, says Bonnie volunteer services. e orts. ernance risks, pro bono expertise is ated. Allen, CEO of the Chicago Law- While the National Immigration e United Way’s Sean Garrett increasingly fungible. “If one rm has a con ict, we yers’ Committee for Civil Rights. Justice Center’s Ellen Miller credits says the arrangement will system- “ e practice groups really val- very often reach out to one anoth- On the agenda at Schi Hardin the switch to Zoom for speeding atize legal work mostly handled ue the networks and expertise . . . er and quickly nd another rm to are COVID-related compassion- case assignments, Katten’s Baum before by various volunteer attor- because they’re valued by the cli- assist,” she says. ate relief for prison inmates and says it has cut productivity for the neys, “while also adding Andrew’s ents,” says Nicolaus Patrick, a Lon- Pro bono e orts have been at- providing rst responders with legal aid clinic at Jose de Diego strategy thinking and experience don-based pro bono partner at DLA tacked politically, from the right estate plans, says partner Paula Community Academy in Wicker to our team.” PRINTING SOLUTIONS THAT ATTRACT EYES LIKE A DEEP DISH PIZZA Our Print Team is here to help Chicago businesses attract more customers and #KeepBusinessGoing.
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20cb0527.pdf RunDate 10/26/20 FULL PAGE Color: 4/C 10 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS Sellers upgrading with COVID-era amenities
AMENITIES from Page 3 provide a built-in school-from- late October at $2.25 million. home spot. In May 2019, rst-time rehabber to contemporary buyers. At their six-bedroom home on Basant Khanna bought a slightly “You’re always better o showing Larkdale Drive in Glenview, clients dilapidated 19th-century house a buyers the change than telling them of Frumentino’s had already refur- few doors north of the 606 trail on it can be changed,” says Honore Fru- bished a rst- oor home o ce as Francisco Avenue. Her rehab plan mentino, an @properties agent. an at-home classroom with seven included a rear addition, which is Some changes have been big. child-size desks for their kids and a a common way to modernize old A rehabber built out a new third few others in their pandemic bub- houses in the city. oor on a vintage Logan Square ble. Before having the house pho- en this year the 606 shut house instead of putting an addi- tographed to go on the market, the down as part of the city’s pandem- tion on the back in order to keep homeowners expected to put adult ic closings. Khanna’s real estate a sizable backyard. But most have o ce furniture back in the room. agent, Rich Aronson of Berkshire been smaller in scale. In Lakeview, “I told them not to,” Frumentino Hathaway HomeServices Chica- an owner who was rehabbing a says. “is is something buyers will go, pointed out to her that families rental property to sell it tted out like seeing. It’s a great idea they’re were going to want “as much out-
JOHN R. BOEHM R. JOHN the closet in one child’s bedroom not going to see” in other listings. door space as they can get in the A family in Lincoln Park turned their detached garage into a workout and entertainment space. with a desk and pendant lamp, to e house came on the market in city,” he recalls. Khanna, whose rm is called BH Improved Prop- erties, decided to build out the at- tic into a full third oor instead. e switch preserved about 315 square feet of backyard. e com- pleted property came on the market in mid-October at a little over $1.27 million. A family in Lincoln Park turned their detached alley-side garage into a space for exercising and at- home entertaining with the door up for healthful air circulation. ey cleaned out the garage, hung nice lighting from the ceiling and workout equipment on the walls, and laid down a new epoxy oor. ey also bought a garage-size soft mat to roll out over the epoxy when doing yoga and other oor workouts. “ey did it for themselves but also to sell it,” says Joanne Nem- 6ROXWLRQVWRGLIILFXOWSUREOHPV erovski, a Compass agent. It worked: Nemerovski showed the home to a few clients in late October ahead of putting it on the market at about $1.6 million. e house went under contract Nov. 4.
SUGGESTIONS /DZ\HUVZKROLVWHQ For clients who were planning to x up and sell a property they’ve operated for a few years as a rental, Stephen Hnatow of Keller Williams One Chicago oversaw the updates. e owner was adding new shelving and lighting to closets, and Hnatow suggested a child’s closet should 6NLOOHGSURIHVVLRQDOVZKRFDUH include a dedicated school-from- home nook, with desktop and hang- ing lamp. Another of Hnatow’s sugges- tions: Install a Murphy bed, those old-fashioned built-ins that fold up out of the way when not in use. at way, “you can use the room for work or for working out when you don’t have guests.” Down the line, larger-scale changes in homes may become de rigueur if pandemics become a way of life, says veteran homebuilder Jerry James. “Depending on how this shakesזחÁǝƺIɖɎɖȸƺȒǔIƏȅǣǼɵnƏɯ³ǣȇƬƺ out, you’ll probably see builders looking into more touch-free en- tries, appliances and doors,” says James, president of Edward R. James, a homebuilding rm based in Glenview. James says one current standard z of homebuilding might come into «0³Á۴áR0Á ۴nk0I RX!J! con ict with the desire for more circulation of air indoors. “Under ”,ɯɯɯِɀƳǔǼƏɯِƬȒȅ current codes, we build airtight James says, largely to keep energy costs down by preventing leakage of heated or cooled air. “e industry may have to look for better ways to ventilate the indoors.” Make each moment matter. _
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20cb0254.pdf RunDate 6/1/20 FULL PAGE Color: 4/C 12 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
EDITORIAL The door to change is now open, Illinois llinois and the city of Chicago are in crats, from Sens. Dick Durbin and Tammy deep nancial trouble. No one reading Duckworth to Pritzker himself, are now this page needs us to go into tremen- saying out loud that it’s time for Speaker Mi- dous detail about just how deep—the chael Madigan to step down from his post as Idistance between what these governments leader of the Illinois Democratic Party. at collect in the form of taxes and fees and what gesture might not seem like much more than they spend has been far too wide for far too window-dressing, but it’s a signal that one of long. And with the collapse of Gov. J.B. Pritz- the people most responsible for steering Illi- ker’s cornerstone scal initiative, the gradu- nois into the nancial ditch is beginning to ated income tax, that gap will only increase, lose his grip on power, however slightly. And at least at the state level—that is, unless the that further opens the door to the possibility governor and his legislative counterparts get of change. serious about addressing the cost side of the As Crain’s political columnist Greg Hinz equation. points out in this week’s issue, Pritzker now As they say, when one door closes, another has not just an opening but a duty to stand one opens. And now that Illinois voters have up to the people within his party who are slammed the door on the “fair tax” idea, the blocking the path to compromise on the door to more substantive and fundamental pension issue. And as business columnist change has been forcefully blown open. As Joe Cahill contends, the city and state’s busi- Crain’s contributor David Greising speculat- ness community, having successfully ward- ed prior to the election, perhaps a loss on the ed o the progressive tax, must now step into graduated tax will strengthen Pritzker’s hand the void and help the governor as well as the in that regard, forcing the governor’s allies in mayor to hammer out solutions. the public employee unions to nally recog- One important step that business leaders nize the need to come to the table and nego- can take immediately is to pressure Wash- tiate some reasonable solutions to the pen- ington—and Senate Majority Leader Mitch
sion underfunding crisis that is at the root of GETTY IMAGES McConnell in particular—to get back to the the state’s and the city’s nancial woes. negotiating table and work out a stimulus e mere suggestion of such a scenario widely written up as the result of a wave of vented all sides from defusing a giant scal package that will bring relief to governments will likely set o some eye-rolling among teacher strikes in Arizona and several oth- bomb. Fast-forward to this year’s election cy- and businesses brought low by the COVID jaded political observers, but consider how er states two years ago, but there’s another cle, and Arizona voters agreed to bear higher crisis. Federal relief for struggling cities is much the landscape has shifted in just the factor that likely played as important a role: taxes, knowing it would support something long overdue, and corporate Chicago can past few days. Arizona took steps years ago to rein in out- they agree is needed—better schools. e and should ex its newly strengthened po- For one, look to Arizona. No, not at the of-control pension costs. unions’ earlier willingness to take steps for litical muscle to push D.C. Republicans and presidential contest, but at a very import- Arizona is, of course, a traditionally con- the common good likely laid the ground- Democrats to act. Neither Pritzker nor Chi- ant development that didn’t draw as many servative state where labor isn’t as powerful work for the passage of the high-earner tax. cago Mayor Lori Lightfoot should budget as headlines outside the Grand Canyon State. as in the East and Midwest. But unions there Here in Illinois, we’re obviously a long way if such aid is going to come through—but it Even as Illinoisans rejected the idea of a stepped outside their traditional stance and away from achieving such a feeling of good would be helpful if the business communi- billionaire tax, Arizonans voted to increase pushed for a solution to that state’s pension faith and comity. But what seemed impos- ty advocated for Chicago and Illinois to get taxes on high earners in order to steer more crisis, endorsing an amendment to consti- sible even as recently as a few weeks ago is their share of whatever rescue package nal- money to public schools. at outcome was tutional restrictions that had previously pre- now starting to happen: Top-level Demo- ly makes its way through Congress. YOUR VIEW Opportunity zones o er solid path to recovery s elected leaders look for visers released a report detailing able housing units; and RiseKit, a startup invested in Hope Manor Village. ways to dig out of massive the successes we’re already see- software company with 10 employees that How do we know this? Because Chica- A budget holes driven by ing across America. e coun- empowers entry- to mid-level job seekers go and Cook County are home to the Chi- the coronavirus pandemic, the cil found that in just two years, to nd careers, training and wraparound cagoland Opportunity Zones Consortium, need for new capital resources is opportunity zones have driven services to get and keep a job. a coordinated e ort that is laser-focused more important than ever before. $75 billion in new investments to e coronavirus hasn’t slowed down the on facilitating connections and attracting It is critical that we not overlook distressed communities. ese use of this tool. Rather, opportunity zones investments that create quality jobs, build an economic development tool new investments will lift at least 1 have seen an uptick in activity since mid- wealth and promote equitable develop- fueled by private capital that is million Americans out of poverty, April. rough the incentive, any private ment. Launched in early 2020, the consor- well positioned to help us pursue decreasing the poverty rate in the investor with a capital gains tax liability can tium was created because its partners rec- shared goals: opportunity zones. Robin Schabes is zones—where it’s nearly twice the receive a variety of tax bene ts by investing ognize the value of having a central point e opportunity zones tax in- the director of the national average—by 11 percent. in a quali ed opportunity fund. In turn, the of coordination within a strong communi- centive, enacted into federal law Chicagoland Opportunity zones equity funds make long-term equity investments ty development ecosystem of public, pri- through the Tax Cuts & Jobs Act Opportunity Zones comes in many forms. In the Chi- that create jobs, repurpose buildings and vate, philanthropic and nonpro t partners. of 2017, is the most signi cant Consortium. cago area, it is being used to fur- create access to needed goods and services To make a greater impact in Chicago, we federal incentive for community ther real estate projects of all sizes in designated communities. need all parties to seek creative paths for development created in the past 50 years. that create jobs and positive community im- Today, investments are closing due to the new investment dollars to ow equitably In fact, the U.S. Treasury estimates up to pacts in multiple neighborhoods. Addition- long-term bene ts o ered by the incentive. into our communities. We encourage in- $100 billion in annual new investment ally, Chicago’s experience mirrors national In addition to banking institutions, we’re see- vestors, entrepreneurs, business owners, capital could move to opportunity zones trends in that investors are increasingly in- ing investors in the Chicago area that include developers, municipalities and community over the next decade at net cost of only terested in quali ed operating businesses family o ces, Fortune 500 corporations, stakeholders to learn more about the ben- $2.6 billion. Opportunity zones equity can located or moving into opportunity zones. community developers and an angel fund e ts and requirements of the opportunity be layered into local community develop- Some local examples include Hope focused on operating businesses. Among zones incentive. Let’s be sure to add oppor- ment projects or business investments to Manor Village, a supportive housing proj- them: angel/seed fund Verte Opportunity tunity zones to the economic development leverage existing resources further. ect in Englewood that focuses on the needs Zone Fund’s investment in RiseKit, and Fifth toolbox. At this time in history, we cannot In August, the Council of Economic Ad- of veterans, which will result in 36 a ord- ird Bank’s Opportunity Zone Fund, which a ord to let resources such as this pass us by.
Write us: Crain’s welcomes responses from readers. Letters should be as brief as possible and may be edited. Send letters Sound o : Send a column for the Opinion page to editor@ to Crain’s Chicago Business, 150 N. Michigan Ave., Chicago, IL 60601, or email us at [email protected]. Please chicagobusiness.com. Please include a phone number for veri cation include your full name, the city from which you’re writing and a phone number for fact-checking purposes. purposes, and limit submissions to 425 words or fewer. CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 13 LETTER TO THE EDITOR McDonald’s is serving our crew and customers with safety rst he story on Page 8 of this week’s issue, McDonald’s serves 65 million people glob- McDonald’s implemented the swiftest and crew safety. originally published Nov. 5 on Chicago- ally every day, and we are deeply aware of the operational transformation in our history, ese actions mean McDonald’s opera- TBusiness.com, posed the question “Is challenges the pandemic has created in our making more than 50 process changes in tors—the more than 2,000 small-business McDonald’s doing enough to protect work- communities. e importance of providing restaurants, including temperature and well- owners in the U.S.—have been able to keep ers from COVID?” Since the pandemic be- those communities with a ordable food at ness checks at the start of each shift, social over 800,000 crew in the U.S. employed in a gan, we’ve been asking ourselves a similar such scale led many governments around distancing protocols coupled with protec- safe environment. ese measures have al- question every day—a question not all that the world to designate McDonald’s restau- tive barrier installations across restaurants, lowed us to keep more than 99 percent of our di erent than the one we’ve considered ev- rants essential businesses. at’s an enor- and mask wearing for customer and crew, to U.S. restaurants open to provide a ordable ery day for the last 65 years. Let us give you mous responsibility, and it’s not one we take name a few. We also distributed more than meals and serve essential workers. some insight into how we are answering that. lightly. 100 million masks to crew. Employees are Faced with the greatest global health cri- We learned early on that no one is im- In a global pandemic that has infected asked to stay home when not feeling their sis of our time, we are proud that crew have mune to the impact of this unprecedented nearly 10 million Americans, McDonald’s best, and crew at company-owned restau- been able to continue serving our communi- global health crisis. at’s why we laid out safety measures sought to protect crew and rants who are impacted by COVID-19 receive ties safely, especially in a time of need. a set of core principles in February to guide customers above all else. However, our ap- two weeks of paid sick leave. To inform our our decision-making, and we’ve followed on proach also had to account for the unfortu- longer-term approach, McDonald’s engaged DAVID TOVAR with dozens of actions that always kept crew nate reality that this crisis is impacting every Mayo Clinic to further enhance hygiene and Vice president of U.S. communications and customer safety as our top priority. community around the world. cleanliness practices in support of customer McDonald’s
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Sound o : Send a column for the Opinion page to editor@ claycorp.com chicagobusiness.com. Please include a phone number for veri cation purposes, and limit submissions to 425 words or fewer. 14 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS Clayco unit eyes $1 billion Royal Bank offers commercial loans with attractive rates and terms. in middle-class apartments BY DANNY ECKER ner J.J. Smith. St. Louis-based CRG, the U.S. average median income. It’s Contact Michael Lintvelt, Vice President a unit of Chicago-based Clayco, will a wager that the pandemic will con- Clayco’s development arm is target projects in Sun Belt markets tinue to make suburban living more 2IƓFH Ř0RELOH planning a major push into subur- including Atlanta; Austin, Texas; popular even after it subsides, and (PDLO POLQWYHOW#UR\DOEDQNXV ban apartments designed for the Charlotte, N.C.; Dallas; Nashville, that there’s already enough upscale Putting community first since 1887. post-COVID-19 world and mid- Tenn.; and Phoenix with a focus on housing to go around. dle-class tenants. suburban sites. “What we’re trying to do is build In what amounts to its rst co- Instead of building higher-end for the masses and not the classes,” hesive development strategy in the apartments that in recent years have says Smith, who took the reins of royal-bank.us multifamily sector, CRG aims to been popular among renters and residential development for CRG in Member FDIC /RFDWLRQVLQ&KLFDJR:HVWPRQWDQG1LOHV build $1 billion of apartments over lucrative for developers, CRG’s proj- late March after a nearly 13-year run the next three years across nearly ects will be meant for workers who with CA Ventures, where he over- a dozen cities, says Managing Part- earn between 80 and 120 percent of saw development of around 40,000 apartments across 100 cities. Most apartment development over the past decade has catered to the top 10 percent of earners, Smith says, partly a result of developers facing high costs of land and con- Attorneys aren’t in the business of struction and more stringent a ord- able-housing requirements. “I think the middle class has largely been underserved from a new product making promises, perspective. We’ll do well serving that segment,” he says.
but I can promise BACK IN FAVOR Large-scale development for mid- you this. dle-income families fell out of favor with developers decades ago, in part because it’s typically deemed too expensive to build given the return through modest rental rates. But I take on complex, high-stakes, a deep recession triggered by the bet-the-company cases. coronavirus crisis has lowered both The kind that can make or break businesses the cost of construction and acquir- and the people behind them. ing property and made deals easier to pencil out, Smith says. CRG also Cases that demand the highest level of attention has design and construction ser- legal acumen, and skillful, strategic advocacy. vices in-house through Clayco that If you choose me to represent you, “gives us a huge leg up,” he says. know that it’s an honor I’ll never take lightly. Many of the new apartment proj- ects, which Smith estimates will cost A privilege to work for you. between $75 million and $125 mil- A commitment to minimize the stress on you, lion to build and include between your colleagues, your business. 200 and 400 units, will be built with An opportunity to do what I and my team do best. wood frames to keep costs down and o er rents designed to undercut All to serve your interests and pursue the highest-tier-quality properties in your ideal outcome. a given market. In addition to Sun That’s my purpose, and my promise. Belt cities, the developer is also look- ing at projects in Salt Lake City, Min- I’m ERIK CONNOLLY. neapolis and Chicago, Smith says. I’m on your team. CRG’s new strategy also comes as suburban apartments fare bet- ter during the pandemic than ones MY BENESCH MY TEAM downtown as the public health crisis has raised questions about the future of urban living and made less-dense suburban areas more attractive. > Executive Committee Member; Vice Chair, Litigation Practice Group Smith is betting that’s not going away even after the crisis is over, nor > Litigates complex, high-profile cases. is the trend of people doing their > Represents individuals and companies in a variety of commercial jobs from home more frequently matters, including defamation, disparagement, tortious after proving the viability of remote interference, fraud, negligence, breach of contract, securities work. at’s why CRG is design- fraud, insider trading, breach of fiduciary duty, auditor liability, ing units in its new buildings with pocket o ces, nooks for private and product liability. conversations and what Smith dubs > 312.624.6348 | [email protected] “Zoom-worthy” common spaces for teleconferencing. Smith says he’s not concerned about being able to nance CRG’s projects even as lenders take a cau- tious approach to new development. He expects to raise as much as $450 million from institutional investors, some of whom were pushing CRG to pursue middle-class apartment units in the rst place. www.beneschlaw.com “We created the strategy in re- sponse to what investors were telling us,” he says. “We feel we’ll be suc- cessful.” MORE THAN EVER, OUR NEIGHBORS NEED US.
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20cb0544.pdf RunDate 11/9/20 FULL PAGE Color: 4/C 16 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS Homebuilders are having their best year since 2008 More new homes sold in the rst three quarters of 2020 than any comparable period in a dozen years. The sales growth is entirely suburban.
from home has opened up the BY DENNIS RODKIN suburbs to these younger buy- Sales of new-construction ers again,” says Jerry James,
BAIRD BAIRD WARNER & homes in the Chicago area have president of Edward R. James, This new house on Bristle Cone Drive in the Woodlore subdivision in Crystal Lake sold in August for just under $388,000. been stronger this year than a longtime homebuilding firm any time since 2008, according based in Glenview. to a new report from an indus- James says another spark for try analyst. the suburban increase is re- w In the first three quarters of cent spasms of unrest in the BRIDGING CAPITAL TO REAL ESTATE OPPORTUNITY 2020, builders sold 3,729 new- city turning off suburban empty ly built homes in the Chicago nesters from moving into Chi- area, according to the report cago. from Tracy Cross & Associates, “It has unnerved a lot of peo- a building industry consulting ple who would otherwise be firm based in Schaumburg. The looking at condos downtown last time more new homes sold when they sell their family was the first nine months of home,” James says. 2008. “We knew (sales volume) was ON THE RISE going to go up because of low One result: Sales are up at interest rates and the across- Hinsdale Meadows, an Edward 2019 DEVELOPER OF THE YEAR the-board improvement in the R. James development of du- Bridge Development Partners, LLC suburban marketplace in a plexes and single-family homes movement out of the city,” says priced from the $700,000s to 16.9+ MSF Completed or Under Development in Chicagoland Since 2000 Erik Doersching, executive vice over $1 million. The develop- president at Tracy Cross. “But it ment sold 10 homes in the first CHICAGO OFFICES CHICAGO | MIAMI | NEW JERSEY/NEW YORK ticked up much higher than we three quarters of 2020, James LOS ANGELES/SAN FRANCISCO | SEATTLE | LONDON 9525 W. Bryn Mawr Ave., STE. 700, Rosemont, Illinois 60018 expected.” says, compared to 11 in all of 350 W. Hubbard St., STE. 430, Chicago, Illinois 60654 At the end of the third quar- 2019. ter, sales of new homes were up Super-low interest rates are 15 percent from the same time the primary fuel of the sales in- last year, according to Cross’ crease, Doersching says. That’s data. evidenced by the fact that most The surge in sales began in new-home sales were in parts of the second quarter of the year the far southwest suburbs, like but accelerated in the third, like the housing market overall. In the “WE KNEW SALES VOLUME WAS third quarter, home- builders sold 1,448 GOING TO GO UP BECAUSE OF LOW homes, the most in INTEREST RATES AND . . . MOVEMENT any individual quar- ter since the second OUT OF THE CITY. BUT IT TICKED UP quarter of 2008, when there were 2,092 MUCH HIGHER THAN WE EXPECTED.” sales. Erik Doersching, executive vice president, In 2008, sales were Tracy Cross & Associates crashing down from the heyday of the ear- ly 2000s, when quarterly sales Joliet, Plainfield and Oswego, regularly topped 5,000. where prices are the lowest. The After more than a decade of buyers who are most sensitive reports of shallow sales, the to the difference low interest increase in 2020 “emphasizes rates make in their purchasing what’s going on in the world power tend to be those at the with the desire some people lower end of the price range. are showing to move to the sub- Yet Doersching says that urbs.” COVID-19 concerns are also playing a role in buyers choos- SUBURBS HOT ing new homes. “Knowing The increase is entirely sub- you’re the first in this house, urban. New-home sales in the that everything is clean and city were down 39 percent in safe, makes a difference this the third quarter from the same year,” he says. time a year ago, to 51 sales, and The Cross data captures only for the year to date at the end homes sold in developments of the third quarter, they were of 10 or more and covers both down 28 percent, to 189. Sub- detached houses and attached urban sales were up nearly 49 condominiums and townhous- percent in the third quarter, to es. 1,397 sales, and 19 percent year Homes built on individu- to date, to 3,540 sales. al lots, a popular model in the “The opportunity to work city, do not get counted. CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 17 Contemporary, pedigreed and $4.5M, on the exurban fringe Prominent Chicago architect Brad Lynch designed the concrete, zinc and glass house outside Morris to evoke utilitarian farm buildings but provide a warm haven BY DENNIS RODKIN white walls and terrazzo floors is part to provide an at-home rec- a warm take on modernism. reational space for one of their In a rural setting 65 miles Ray Meyer is an orthopedic children, who is blind and found southwest of the Loop, a surgeon based in Morris. Julieta navigating crowds in public pools 15,000-square-foot house and in- Meyer is a school nurse in a near- difficult, Ray Meyer says. The door pool designed by a Chicago by district. changes of texture inside, from architect known for his minimal- Both are Chicago natives fond concrete to wood to, in the kitch- ist contemporary style came on of the city’s architectural heri- en, stainless steel, also helped the market last week. tage, they say, so when they de- with navigation by touch, he says. Ray and Julieta Meyer are ask- cided to build a new home on The pool pavilion has a long ing $4.5 million for the house, former cornfields, they tapped skylight with a retractable roof, which they built in 2008 on a Lynch as their architect. which along with walls of glass little more than 30 acres outside in the living room and bed- Morris. The concrete, zinc and MINIMALISM rooms “opens us up to the setting glass house was designed by Brad “We don’t really have a lot of around us,” Julieta Meyer says. Lynch, a principal at architecture knickknack-y stuff,” Julieta Mey- Returning the former corn- firm Brininstool + Lynch. er says. “Minimalism works per- fields to prairie was the work of The property is represented by fectly for our family.” They built the Pizzo Group, a noted land- Cheena Chandra of Jameson So- in the country, she says, to sur- scape restoration firm based in theby’s International Realty. round themselves and their chil- Leland. Lynch, whose firm has de- dren with outdoor amenities, in- Ray Meyer says they spent at signed several condo buildings cluding Nettle Creek, which runs least $1 million more than their and houses in Chicago and else- along two sides of the property, current asking price to buy the where, as well as the Racine Art woods, restored prairie and a land and build the house. They’re Museum, “does the kind of clean- long driveway for sports. now planning to build another, lined, minimalist buildings that “It’s a spectacular setting smaller home in the area, also we thought would integrate well with long vistas into the woods,” designed by Lynch. into a landscape where you see Lynch says. The Meyers’ fond- The current house has geo- a lot of farm grain bins and farm ness for functional farm build- thermal heating, an eco-friendly implements,” Ray Meyer says. ings gave him “the opportunity technology that uses the natu- Exterior materials like zinc and to do something that wouldn’t be rally stable temperature below concrete fit into the rural set- extravagant,” he says. ground to reduce the mechanical ting, Meyer says, while the inte- The house was to include a heating and cooling load, as well
rior palette of wood, concrete or large indoor pool pavilion in as other green features. BARRETT PHOTOGRAPHY CHRISTOPHER
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©2020 TCF National Bank. Member FDIC. Equal Opportunity Lender. 18 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
UNDER MICHAEL SIMMONS
n 1981, the Chicago Housing Authority opened Iits first scattered-site public housing unit. The FORTY move was in response to a U.S. Supreme Court ruling that public housing confined to certain areas violated the Civil Rights Act. CLASS OF 2020 at decision allowed Michael In dark times we look for bright spots: spending time outdoors Age: 37 Simmons’ family to relocate to Lin- with a few friends or family members. Rediscovering (or discov- Founder and coln Square from ering) cooking. Recognizing and celebrating great talent. That’s CEO, Blue Sky (then rough) Old Town; even so, Strategies what our 40 Under 40 feature, now in its 31st year, is all about. their new life was The accomplished Chicagoans who make up our latest class— Deputy director, no picnic. Sim- My Brother’s mons’ mother and her brothers were entrepreneurs, government operatives, corporate VPs, inven- Keeper Alliance, chased home and tors and more—have already made more of a mark than some Obama had eggs thrown at Foundation them. eir white of us will in a lifetime. That’s worth applauding anytime, but neighbors tried to impose a curfew especially now. Photography by John R. Boehm on them. ose experiences set the stage for Simmons’ entire career. In 2017, after spending more than a decade in government, he opened Blue Sky Strategies, a rm that develops anti-racist public policy. Age: 38 He has earned a reputation for innovative and Managing energetic work. When working with the Cen- ter for Neighborhood Technology on the Cook director County Consolidated Plan— submitted to the S2G Ventures U.S. Department of Housing & Urban Devel- opment every ve years as part of the process to receive block grants—Simmons suggested compiling data that proved the harm caused by racial injustices, for instance subprime lending. MATTHEW “He is the one who will think about a di erent way to conceive of something,” says Drew Wil- liams-Clark, managing director of urban resil- WALKER ience at the center. In 2019, the Obama Foundation hired Blue Sky Strategies to develop an action plan for My Broth- er’s Keeper, a nationwide program President Barack Obama founded in 2014 to remove obsta- cles to success for boys and young men of color. e plan will rally nonpro ts, systems (such as schools) and policy around attacking the system- ic racism that holds back Black, Brown and Na- tive American young men. Success will include “a whole new infrastructure of mentorship”— and living-wage jobs—for boys and men of color in Chicago, Simmons says. Simmons earned a degree in political science from Amherst College. When he was in college, he interned with then-U.S. Sen. Obama, then stayed on Capitol Hill to work for Sen. Dick atthew Walker has spent a ey,” says Walker, who grew up in a ‘yes’ person. He’s got a unique Durbin. He returned to Chicago and eventually Mcareer doing deals. Denver but moved to Chicago in bio: He combines an engineer’s served as policy director for former Mayor Rahm He got his start writing re- 2014. “For the rst time I didn’t mindset and legal nuance with Emanuel, helping enact policies that protect search grants as a neuromechan- feel like I was a mercenary, the ability to understand the renters in foreclosed apartment buildings and ical engineer, then moved on to whereas I think that’s part of the business.” establish protections for transgender people in structuring synthetic derivatives game when you’re a corporate Walker was working as a lawyer police custody. After leaving City Hall, he took a as a securities lawyer and M&A lawyer or an investment banker.” on Wall Street during the last re- yearlong sabbatical to travel in West Africa and deals as an investment banker Walker oversees about a doz- cession when he decided to go to Eastern Europe. on Wall Street before nding his en of the roughly 50 companies business school at the University Simmons lives in Uptown with his partner and niche doing venture-capital in- in S2G’s portfolio, including of Chicago. “I wanted to be on the Sasha, his late mother’s dog. vestments at S2G Ventures. GreenLight Biosciences, a start- other side of the table,” he says. “I He says his mother, a beauty salon owner for 25 S2G is one of Chicago’s big- up working on genetic solutions was in my 20s, and you saw people years, imbued him with determination and the gest venture pools, having raised to weed and pest control, and who made $50 million in a career humanity that infuses his work. “She would al- $650 million across three funds. Future Meat, which is developing lose it in a week. at was quite a ways say, ‘Michael, have compassion,’ ” he recalls. It started six years ago with an meat grown in a lab instead of on shock. And I felt if I don’t want to unusual mission: nding unique a farm. be a lawyer for the long run any- Lisa Bertagnoli products and technologies aimed “S2G wouldn’t be what it way, the music has stopped here. at making food and agriculture is without him,” says Sanjeev I need to start thinking about healthier and more sustainable. Krishnan, the rm’s managing something di erent.” “I feel like what we’re doing director. “He’s someone I’ve re- is bigger than just making mon- lied on from the start. He is not John Pletz CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 19
MICHELLE HERRICK
ichelle Herrick got her first Age: 39 Mtaste of real estate as an ana- lyst at LaSalle Bank not long after Managing director; graduating from college. market manager of After getting pulled into a cou- Central/Mountain ple of deals, “I was totally hooked,” she says. region, real estate Herrick has worked on about banking $15 billion in deals since then. JPMorgan Chase And her passion for property put her on a path to the job she holds now at JPMorgan Chase. From its Chicago o ce, she leads a team ideas on who could lead Chase’s of real estate bankers who cover Midwest real estate business, “her a territory that stretches from At- name kept coming up,” he says. lanta to Seattle. Herrick didn’t have much lead- “I’ve had multiple clients call ership experience on her résumé, and tell me, ‘I want Michelle Her- but “she had all the raw materi- rick on my account,’ ” says Chad als,” Tredway says. Tredway, managing director and e real estate market was head of real estate banking at booming when she joined the Chase, who hired her. “She’s al- bank—revenue for her group grew most a brand.” 25 percent her rst year—but has Herrick was a sporty teen grow- taken a turn for the worse due to ing up in suburban Cincinnati, the coronavirus and recession. playing soccer and tennis in high But Herrick’s team did pull o school and cutting lawns to make the biggest nancing deal of the money. Her mom worked nights year in Chicago, leading a bank as a nurse, while her dad was an group that provided a $549 mil- engineer at Procter & Gamble. lion construction loan for the “To this day, I can only buy Salesforce Tower o ce project on (P&G brands) Tide and Crest,” Wolf Point. says Herrick, who’s raising three She has also played a key role kids, ages 6, 8 and 10, in Claren- this year in launching Yield Chi- don Hills with her husband, a pri- cago, a program to boost minority vate-equity executive. developers in the city. After graduating from Miami “She’s made such a signi cant University in Ohio, Herrick joined impact in such a short amount of LaSalle Bank’s analyst program in time,” Tredway says. 2003. In early 2017, when Tred- way started calling around for Alby Gallun
HERRICK’S TEAM PULLED OFF THE BIGGEST FINANCING DEAL
PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS OF THE YEAR IN CHICAGO. 20 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
UNDER FORTY
PATRICK OTLEWSKI
atrick Otlewski was barely in his resigned in August because of P30s at the start of his first mur- “performance issues.” (Otlewski der case. It was memorable even declines to discuss the matters.) against Chicago’s high bar for gun Otlewski loved math while violence: six Hobos gang members, growing up in suburban Detroit more than a dozen victims. Leading and majoring in it at the Uni- the prosecution for the U.S. attor- versity of Notre Dame. He inter- ney’s office, Otlewski won convic- viewed at the National Security tions on murder Agency for a cryptoanalysis posi- and racketeer- tion before attending law school Age: 39 ing conspiracy at Washington University in St. charges after a Louis. Partner four-month trial Investigations are the domi- King & in 2016. nant and favorite portion of his “He was practice, comprising equal parts Spalding widely viewed fact-building and game theory, as the best in- he says—“not knowing what your vestigator in opponent is going to do and an- the o ce, and that’s saying some- ticipating his moves. Figuring out thing,” says Chris Stetler, an assis- how you’re going to skin that cat tant U.S. attorney. is always a fun challenge.” A protege of Zach Fardon, Ot- In the Hobos case, Otlewski’s lewski worked with the former willingness and capacity to car- U.S. attorney in private practice ry the load stood out, says Derek before they became prosecutors Owens, another prosecutor at and now does so again at the the table. “He was always locked Chicago o ce of law rm King & in. One of the defense attorneys Spalding. said, ‘When is Patrick going to ex- In a familiar segue, Otlewski plode?’ ” No matter how late they represents targets of his former worked, Otlewski would be fully o ce in public corruption in- recharged by 5:30 a.m. “It was vestigations. He’s also the rm’s like he went home and plugged point person for red-light-cam- in.” era company SafeSpeed and its e case was a watershed ex- two top executives, who are de- perience for Otlewski, who rose fendants along with local politi- to deputy chief of general crimes cians in a civil class-action suit before leaving for King & Spal- alleging a bribery scheme. ding in 2018. “I learned pretty With Fardon, he conducted an quickly you can’t prosecute your investigation for the state Teach- way out of a gun problem.” ers’ Retirement System regard- ing its executive director, who Steven R. Strahler PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS
THRU SHIVAKUMAR rowing up in Libertyville as the some of the biggest companies in vestments, including from GCM Gmiddle daughter of Indian im- the world, including Hyatt, GE and CEO Michael Sacks, Cohesion has migrant parents, Thru Shivakumar Chicago nancial behemoth GCM patented a technology that nds was taught to work hard and not ask Grosvenor, before landing at World the patterns questions. Today, she says she’s still Business Chicago, the city’s eco- in commer- a “workaholic,” but she never picked nomic development arm. Along the cial buildings’ Age: 38 up on the part about not asking way, she picked up contacts that HVAC, visitor CEO questions. made her CEO post possible today. management Her quest for knowledge led her At Cohesion, she’s driving de- and elevator Cohesion to the University of Illinois, where velopment of software to help run use data to she graduated with a bachelor’s “intelligent” buildings, based on automate the degree in nance, accounting and millions of data points. She came functions. When she landed the job to appreciate the in 2018, the technology was a tough value of data as a sell, but COVID-19 changed that A RARE EXEC WHO GETS nance manager overnight. at GE Capital’s Shivakumar is the rare executive BUSINESS AND PEOPLE. Interpark park- who gets business and people, says ing lot business. Sacks, who hired her to work on his all,” Sacks says. She determined to rise above those real estate, and eventually to North- “I always questioned that there was personal investments after meet- Despite her parents’ hard work— challenges. She regularly encourag- western University’s Kellogg School so much (parking) data and why we ing her at World Business Chicago. her father as a scientist and her es the two teenage nieces she dotes of Management, where she earned weren’t using that much,” she says. “ ru is a high achiever with an in- mother as an accountant—Shivaku- on to do the same. an MBA. “I’m intrigued by data.” credible work ethic, and anything mar witnessed how they faced dis- at curiosity led to a career with With nearly $10 million in in- she does, she’s going to give it her crimination in their lives, she says. Lynne Marek Co ngratulations Tommy Choi 2019 President of the _b1-]ovvo1b-ঞomo=! $!"®
);Ľu;ruo7o=_b1-]o! $!"® who are committed to ensuring Chicago’s communities are healthy, vibrant and diverse places to live.
20cb0557.pdf RunDate 11/9/20 FULL PAGE Color: 4/C 22 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
UNDER FORTY
Age: 39 MATT MARTIN Chicago reshman Ald. Matt Martin beat western University, he became site lead Fback a dozen challengers in a paralegal, did campaign work Facebook one of Chicago’s most politically at media rm Adelstein Liston engaged wards—home to politicos and served as body man to attor- like former Mayor Rahm Emanuel, ney and author Tom Geoghegan Gov. Rod Blagojevich and Illinois during another crowded race: to Attorney General Lisa Madigan— ll Rahm Emanuel’s vacant con- to win an open seat on the City gressional seat in 2009. en it was NIKKI Council last year. o to Harvard Law, Kirkland & El- As Martin’s boss at the time, lis, clerking at the 7th U.S. Circuit Madigan recalls asking the young Court of Appeals, then two years in NEWSOME attorney: “Are you sure you really Madigan’s o ce. want to be an alderman?” Now Martin says he wants to see “ ere’s a lot of it that some peo- through one of his keystone proj- ple could look at as being mun- ects in the AG’s o ce: reforming dane, especially someone as smart the Chicago Police Department. as Matt,” Madigan says. But as the He knows that the City Council has campaign wore on, she’d see him failed repeatedly to clean up the hustling earlier and chatting up department. But transforming the voters longer than his challeng- traditional pothole- lling role of ers. “Matt won because he did the alderman to become a legislator is work,” she says. a work in progress. Growing up in Tucson, Ariz., with “ e old way of doing stu , a single mom, he bought a saxo- where you keep criticisms quiet, phone in junior high with dreams of you focus only on ward stu and being a professional jazz musician. let the mayor drive the boat on He double-majored in music citywide policymaking, has been and political science, but after an shown not to work,” Martin says. instructor showed him a list of all “It’s right that that’s going away,” hen she was growing up, about 500 people, pushing the cago themes: el stations, fa- the closed music venues in Chica- but it will take time to work out the WNikki Newsome’s house Silicon Valley giant to get more mous Black women and African go, and realizing he was “no Wyn- kinks with a strong-willed mayor always had a computer, thanks plugged in to the city. American pioneers, as well as ton Marsalis,” Martin changed his and other colleagues. “Talk to me to her dad, who was a systems “Facebook has been here famous restaurants and com- game plan to eventually focus on in three years.” engineer. since 2007,” says Newsome, mercials, from Au Cheval to the domestic policy. So it should come as no sur- who grew up in the western late Bob Rohrman. After graduating from North- A.D. Quig prise that she urged her Fortune suburbs and studied advertis- e o ce cafe is named Abe 500 advertising clients to move ing at the University of Illinois. Froman’s (a ne “Ferris Bueller” more swiftly into digital and “A lot of people don’t realize we reference). e sta was just 10 Age: 36 social media during stints at have an o ce here. We needed days from moving into the new Alderman, Starcom and OMD. to make sure people knew how o ces when the COVID-19 “She’s game to experiment,” 47th Ward says Molly Bechert, head of cli- City of ent partnerships for the Wash- “SHE’S A STRAIGHT SHOOTER.” ington Post in Chicago. “She Chicago helped us push to get State Farm (a client at OMD) to try we were localizing our mission.” shutdowns began in March. new products. She’s a straight She’s helped the company When she’s not at work, she shooter. You will always know forge partnerships with the looks to her KitchenAid mix- where you stand: good or bad.” Greater Chicago Food Deposi- er for inspiration. “It’s about Facebook came calling in tory and Habitat for Humanity. ‘What can I create?’ ” she says. 2017, looking for help in a major It continues with Facebook’s “My grandmother taught me a WE ARE push to bring more small and new o ce in the Loop, where good cake never comes from a midsize businesses onto the so- Newsome led the e orts to b o x .” cial media platform. Now she’s give it a more Chicago feel. leading the Chicago o ce of Conference rooms have Chi- John Pletz CALLED TO got a master’s in public health and a law degree. He went to work in HANI ELIAS the Dubai o ce of McKinsey in its n a few months, Americans may health care practice for four years Ibe faced with several COVID-19 Age: 36 before leaving to set up business in PROTECT vaccines coming to market. Which Chicago. Kevin White came to Loyola to run track. An Senior vice president to choose? Lumere is likely to play a “I was exible on where to locate environmental science class set his life on a new key role in that decision. and general manager Lumere,” says Elias, who is married course. Now, the triple-major is using science, policy, Hani (pronounced “Hanny”) Lumere and lives in River North. “Both Will Elias co-founded Lumere as Pro- and Eric had roots here. We hire lots and politics to solve environmental challenges in local cured Health in Chicago eight years of biomedical engineers to work ago with two friends, Eric Meizlish for us, and it turns out that schools communities through sustainable urban planning. and William Danford, as a sort of January for an undisclosed price to around the Midwest have great pro- Cli sNotes for time-pressed doc- Global Healthcare Exchange, based grams for that. We could see a real tors. A team of researchers sorts in Louisville, Colo. e two compa- tech ecosystem taking shape here WHAT’S YOUR CALLING? through the data in 28,000 medical nies appear to be a neat t: Lumere that we took advantage of.” and scienti c journals each year to provides doctors and hospitals with When the pandemic hit and LUC.edu/kevinwhite identify the best drugs and medical advisory services (via subscription) masks, ventilators and other essen-
devices for practically any ailment. on the best products to buy, while PHOTO PROVIDED tials went into short supply, Lumere e rst COVID vaccines are like- GHX ful lls sales by o ering up an advised clients on alternatives. ly to be released with reams of sta- electronic platform as a go-between a staple in the health care supply in suburban Seattle, the son of “Products were being advertised, tistics few physicians will have the with suppliers. chain, and we had been watching Egyptian immigrants—his father and you couldn’t be sure they were time to read. Lumere’s sta of more Lumere had penetrated just 900 each other,” Elias says. “We nally worked for Boeing as a mechanical any good or would arrive on time,” than 100 will do the work for them. hospitals, or less than 20 percent of thought the time was right to work engineer, and his mother worked Elias says. “We’ve tried to keep hos- With seed money and nancing the U.S. market, at the time of the together going forward.” Both he in hospital pathology labs. He got pitals and doctors up on the latest from venture-capital rms, CEO sale, while GHX, with more than 800 and his two co-founders stayed on. an undergraduate degree at Har- that was happening.” Elias and his team grew Lumere employees, was doing business with For Elias, health care has been vard, then completed a rare gradu- on a fast track before selling it in 80 percent. “GHX had long been a long-held passion. He grew up ate program at Harvard in which he H. Lee Murphy CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 23
here’s always a middle say enough good things about MATT MARTIN Age: 35 “Tground,” says Michael Ma- him,” says Zalewski. Mahoney wasn’t supposed to Deputy honey. The trick, especially at a western University, he became time of unprecedented polariza- go into politics. The Joliet Cath- a paralegal, did campaign work chief of tion at every level of American olic Academy grad got a degree at media rm Adelstein Liston staff to the government, is to find that mid- in economics at the University and served as body man to attor- Illinois House dle ground and get something of Illinois at Urbana-Cham- ney and author Tom Geoghegan done, to be “a problem solver,” as paign, then moved to Chicago, during another crowded race: to Republican his boss describes him. where he still lives in the Wick- ll Rahm Emanuel’s vacant con- leader Mahoney is widely consid- er Park neighborhood. But his gressional seat in 2009. en it was ered in Springfield to be just dad’s law partner happened to o to Harvard Law, Kirkland & El- that, someone who certainly is be Tom Cross, Durkin’s pre- lis, clerking at the 7th U.S. Circuit loyal to his boss, House Repub- decessor, and one thing led to Court of Appeals, then two years in lican Leader Jim Durkin, but another. Madigan’s o ce. also someone who knows how Included along the way was Now Martin says he wants to see MICHAEL to digest and frame complex a stint as policy adviser for through one of his keystone proj- issues in such a way as to high- pension and revenue to ex- ects in the AG’s o ce: reforming light the advantages to all sides Gov. Bruce Rauner, who was the Chicago Police Department. MAHONEY of resolving those He knows that the City Council has issues instead of HE KNOWS HOW TO failed repeatedly to clean up the just fighting. department. But transforming the Like the $45 DIGEST AND FRAME traditional pothole- lling role of billion capital alderman to become a legislator is bill that passed COMPLEX ISSUES. a work in progress. Springfield last “ e old way of doing stu , year, the one that funded hun- little inclined to find com- where you keep criticisms quiet, dreds of critical road, tran- mon ground with Democrats you focus only on ward stu and sit, school and other projects on much of anything. Rauner let the mayor drive the boat on around the state while clear- “knew what he wanted to do, citywide policymaking, has been ing the way for a major expan- but he had no idea how to do shown not to work,” Martin says. sion of legal gambling, a long- it,” says Mahoney. “You have to “It’s right that that’s going away,” sought Chicago casino and tax put time into being a politician. but it will take time to work out the cuts for business. Durkin terms It’s not easy.” kinks with a strong-willed mayor those business incentives “the Rauner, of course, is gone and other colleagues. “Talk to me most significant in a decade.” from Illinois politics, except as in three years.” Democrats such as state Rep. a memory. Mahoney is sticking Mike Zalewski, D-Chicago, around. A.D. Quig consider Mahoney an honest—
PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS and helpful—broker. “I can’t Greg Hinz
WE ARE CALLED TO got a master’s in public health and a law degree. He went to work in the Dubai o ce of McKinsey in its health care practice for four years before leaving to set up business in PROTECT Chicago. Kevin White came to Loyola to run track. An “I was exible on where to locate environmental science class set his life on a new Lumere,” says Elias, who is married and lives in River North. “Both Will course. Now, the triple-major is using science, policy, and Eric had roots here. We hire lots and politics to solve environmental challenges in local of biomedical engineers to work for us, and it turns out that schools communities through sustainable urban planning. around the Midwest have great pro- grams for that. We could see a real tech ecosystem taking shape here WHAT’S YOUR CALLING? that we took advantage of.” When the pandemic hit and LUC.edu/kevinwhite masks, ventilators and other essen- tials went into short supply, Lumere advised clients on alternatives. “Products were being advertised, and you couldn’t be sure they were any good or would arrive on time,” Elias says. “We’ve tried to keep hos- pitals and doctors up on the latest that was happening.”
H. Lee Murphy 24 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
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HEATHER MILLER Age: 33 hen Heather Miller’s Founder and Wmother and uncle were Age: 39 executive young, her grandfather relo- director cated the family to Fargo, N.D., Executive from the Wyandotte reservation director Brave Space in Oklahoma. “He did not want American Alliance them to grow up on the reser- vation because of racism,” says Indian Center Miller, a registered member of the Wyandotte tribe. Being Wy- andotte “manifests itself in every LASAIA minute of my day,” Miller says. at includes her career. In 2017, Miller became executive WADE director of the American Indian Center, founded in 1956 to serve the area’s indigenous people. She inherited “some nancial mess- es,” including a scal year that had begun without a budget. Miller, who owned a nonpro ts consul- with Native American art, includ- ers for a New Chicago awards. “It tancy before joining AIC, drafted ing a contemporary mound. e is a tense and di cult line,” he a $500,000 budget and began re- national conversation on racial says, adding that Miller is one of searching Chicago-area funders inequity has put AIC, and Miller, many leaders in the Native com- and foundations to secure fund- on radar screens: She gets four or munity “doing amazing work.” ing. “I tried to meet as many peo- ve calls a day from people seek- Miller, who grew up in Florida, ple as I could,” she says. is past ing information on the genocide has a master’s in Native Ameri- scal year, her third, AIC posted a of Native Americans and sports can studies from Montana State $3,400 surplus on a $700,000 bud- teams with Native American University. She has set a goal to get and has obtained new fund- names and mascots. visit all 50 states. Only Hawaii ing, including a $25,000 challenge Miller serves a community di- and Maine remain. grant from the Gaylord & Dorothy verse in political views, wants and Plans for the future include Donnelley Foundation. needs while collaborating with building an individual donor Miller has restarted after-school “mainstream” institutions neces- program and a leadership pipe- and youth programs, opened an sary for funding, says Hilesh Patel, line at AIC. “I want to help guide art gallery and worked with sever- leadership program investment the next generations of leaders,” al groups to launch the Northwest o cer at Field Foundation of Il- she says. Portage Walking Museum, which linois, which last year awarded features a walking path decorated Miller one of its inaugural Lead- Lisa Bertagnoli
QUENTIN FULKS aSaia Wade graduated from e alliance welcomed 2020 LMiddle Tennessee State Uni- with plans to open info centers for ou might say Gov. J.B. Pritz- versity in 2010 with an MBA and trans people at South Side Chica- Yker has given him control of a dream. “I wanted to be a corpo- go Public Library locations, start a his future—and open access to rate businesswoman. I wanted to job-hunting service and beef up his checkbook. But then Quentin rule the nation with a pocketful of counseling services. In the face of Fulks, an African American man money and a Birkin bag,” she says. COVID-19, the alliance pivoted. who’s rising fast in the still largely Wade landed a communications It opened a food pantry that has white male-dominated fraternity job at a Fortune 400 company af- served north of 20,000 people and of big-league campaign manag- ter graduating and was on her way established an emergency fund ers, came well recommended—by to living that dream. that has disbursed $40,000 to 600 Pritzker. After not even a year on the job, people. Congratulations to our friend and Fulks headed Vote Yes for Fair- she was red after someone un- “It can’t be overstated how ness, the ballot initiative commit- wittingly outed her as transgen- much of a gap they are lling,” tee that spent a ton of Pritzker’s der in front of a group of co-work- says Erik Elìas Glenn, a project colleague Patrick Martin on being one of money to try to pass his gradated ers. Wade couldn’t nd another manager at Northwestern Univer- income tax amendment on Nov. job, so she turned to activism, in- sity’s Department of Medical So- 3. It didn’t pass, certainly compli- terning at the Transgender Law cial Sciences and former director cating Pritzker’s political future. Center in San Francisco and cre- of the Chicago Black Gay Men’s Crain’s Chicago Business 40 Under 40. But Fulks suggests the state hasn’t ating the Tennessee Trans Jour- Caucus. Wade is “the living em- heard the last of the issue, one way Age: 31 “independent of me and Anne,” ney Project. bodiment of being unapologetic says Pritzker. “He essentially was about who she is and what her or another. Chairman and Fate, in the form of her partner, “Moving Illinois toward tax fair- COO of my gubernatorial cam- whom she met at a conference in community needs,” he says. ness while funding important pri- executive director paign. When you really needed to 2013, returned Wade to Chicago, Brave Space Alliance is now orities in every community is the Vote Yes for Fairness get something done, Quentin was where she’d grown up. Looking moving into a permanent home work our coalition has been doing the guy.” around, she found “a black hole in Hyde Park, which will o er a for years,” he said the morning af- Fulks and Caprara remain tight. around corrective-action leader- game room, computer access for Michael J. Heller Vincent R. McGuinness Jeremy J. Glenn ter the election. “We will continue.” Except on football. “He thinks ship for trans people.” To ll the blogging, a care center for chil- Executive Chairman & CEO President & Managing Partner Of ce Managing Partner Fulks says he’s always had a yen ter’s degree in political science Tom Brady is a legendary QB. I gap, she and two friends founded dren, and a clothing and toiletries (215) 665-4141 (215) 665-2097 (312) 474-7981 for politics and may run for of- at American University and was think he’s a cheating has-been,” Brave Space Alliance, a resource pantry, among other amenities. [email protected] [email protected] [email protected] ce himself one day. Perhaps that hired by ranking House Demo- Caprara says. “ e Tom Brady center for trans people of color in Classes on safer sex work and gar- comes from growing up in a small cratic Rep. Steny Hoyer. Not long thing is a big divide.” Hyde Park. eir kicko was the dening are in the works. e food 750 attorneys | 31 of ces south Georgia town just a few after, he met and began working Fulks has other things on his Trans Liberation March in 2017; pantry—there’s now a branch miles from Plains, home of former closely with Anne Caprara (now mind now. For one, he just bought thousands of people attended to on the North Side—will become President Jimmy Carter. Carter’s Pritzker’s chief of sta ), rst at a home in Chicago. For anoth- protest the murders of trans wom- permanent thanks to the pivot, niece was Fulks’ high school En- left-leaning political groups such er, he’s getting used to being in a en. “ e work I do can be danger- which has attracted individual glish teacher, and it wasn’t unusu- as Emily’s List and Priorities USA, position of in uence. “It’s hard to ous,” says Wade, who welcomed and foundation donations. e al- cozen.com al for the president to bicycle by or then as her chief deputy when she bring our life experiences to the her rst child, a son, in August. liance has a budget of $1 million, drop in. moved to Illinois to run Pritzker’s table if you’re not at the table,” he Should something happen to her, up from $500 when it launched in Staying in Georgia was not in campaign against former Illinois says. Now he is. she says, “I want my son to know 2017. the cards, though. Fulks moved to Gov. Bruce Rauner. I fought tooth and nail for equity © 2020 Cozen O’Connor Washington, D.C., earned a mas- Fulks ran the ballot campaign Greg Hinz for everyone.” Lisa Bertagnoli CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 25
Age: 29 Co-founder ARNAV DALMIA and CEO f everything had gone according Commuting three hours round- Cubii Ito plan, Arnav Dalmia would have trip from his apartment in the South been back in India, helping run his Loop left little time for exercise. family’s tea plantation. Cubii nished second in the busi- But Dalmia stayed in the Unit- ness plan competition, and eventu- ed States and launched Cubii, a ally Dalmia and Jain decided to go consumer-products company that into business. “We didn’t have any turned out an unexpected hit: a tiny experience, so we gured it out,” exercise machine that can be used at Dalmia says. “We were doing it with home or work. a clean slate. Sometimes it’s better e six-year-old company did that way.” tens of millions in sales last year, al- Dalmia included his cellphone though Dalmia declines to disclose number with each Cubii shipped. exact gures, and has 40 employees. Customers called and told him It raised just $1.5 million, starting their stories. He soon discovered with $300,000 on Kickstarter, and new customer groups that proved turned a pro t within three years. bigger than the o ce workers they A private-equity rm recently ac- had in mind when they started, quired control of Cubii in a deal val- such as people rehabbing from ued at about $100 million. joint replacements and cardiac sur- Cubii started out as an idea for gery or those battling obesity who a business plan competition at the needed an accessible way to begin University of Chicago, where Dal- exercising. mia and his now-wife, Shivani Jain, “Because he was willing to listen, were undergraduates. “ e idea was he got to know what the customers we’d come up with a business plan valued about the product,” says Jai and see how the competition works. Shekhawat, an early investor and Whatever experience I get, I can take successful software entrepreneur. back to my family’s business.” “ ey have a fan base you couldn’t Dalmia came up with the idea for buy for any amount of money.” Cubii, a miniature elliptical machine, while working as an intern at Sears. John Pletz PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS
e alliance welcomed 2020 with plans to open info centers for trans people at South Side Chica- go Public Library locations, start a job-hunting service and beef up counseling services. In the face of COVID-19, the alliance pivoted. It opened a food pantry that has served north of 20,000 people and established an emergency fund that has disbursed $40,000 to 600 people. Congratulations to our friend and “It can’t be overstated how much of a gap they are lling,” says Erik Elìas Glenn, a project colleague Patrick Martin on being one of manager at Northwestern Univer- sity’s Department of Medical So- cial Sciences and former director of the Chicago Black Gay Men’s Crain’s Chicago Business 40 Under 40. Caucus. Wade is “the living em- bodiment of being unapologetic about who she is and what her community needs,” he says. Brave Space Alliance is now moving into a permanent home in Hyde Park, which will o er a game room, computer access for Michael J. Heller Vincent R. McGuinness Jeremy J. Glenn blogging, a care center for chil- Executive Chairman & CEO President & Managing Partner Of ce Managing Partner dren, and a clothing and toiletries (215) 665-4141 (215) 665-2097 (312) 474-7981 pantry, among other amenities. [email protected] [email protected] [email protected] Classes on safer sex work and gar- dening are in the works. e food 750 attorneys | 31 of ces pantry—there’s now a branch on the North Side—will become permanent thanks to the pivot, which has attracted individual and foundation donations. e al- cozen.com liance has a budget of $1 million, up from $500 when it launched in 2017. © 2020 Cozen O’Connor Lisa Bertagnoli 26 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
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Age: 35 DAWVEED Associate director, urban designer and project lead SCULLY Skidmore Owings & Merrill
s an intern at Skidmore Ow- same here. They’ve stayed in community plan for several Aings & Merrill, Dawveed touch on Woodlawn 2025, a historically Black colleges and Scully worked on the city’s failed community road map antici- universities. bid to bring the 2016 Olympics to pating the arrival of the Obama “While there isn’t a design the former Michael Reese Hos- Presidential Center. Scully has solution to everything, there pital site. Later, as a junior urban immersed himself in the South are opportunities to shift the designer, he helped the archi- Side neighborhood after relo- culture and the field to right tecture firm respond to an RFP cating from the Gold Coast. the wrongs of the past and cre- seeking alternative uses. “It’s not theoretical when ate places that allow people to Now, as a project lead, he’s he’s designing,” says developer thrive and prosper in place,” finally got a chance to do some- Leon Walker at DL3 Realty. Scully says. “That’s where I see thing about the vexing 100-acre Scully was STEM-oriented myself moving forward.” Bronzeville parcel. With Far- at Morgan Park High School, In 2018 he was named a Young point Development, Skidmore where he took drafting classes Visionary by the Urban Land In- envisions a 15 million-square- and won a Newhouse Architec- stitute’s Chicago chapter. foot buildout, centered on life ture & Design Competition. Af- Scully is the son of jazz bass- sciences and consuming up to ter a false start at the University ist Yosef Ben Israel—Dawveed $7 billion over 10 to 15 years. of Illinois at Chicago and a year is a Hebrew variant of David. “He’s become the face of the on the graveyard shift as a UPS His mother, Gilda Hooks, was SOM team,” says Farpoint prin- package handler, he pursued an an executive assistant at Mo- cipal Scott Goodman. Illinois Institute of Technology torola. Scully’s first public assign- architecture degree. “Learning jazz and music in ment was a riverfront plan in Le Corbusier’s Radiant City my youth helped me get used to Detroit, where he dealt with reminded him of a housing adapting to context and place Maurice Cox, who headed the project and sent him in anoth- as a professional,” he says. city’s Planning & Development er philosophical direction. In Department and now does the Atlanta, he negotiated a joint Steven R. Strahler
VICTOR JONES JULIA DOHERTY ictor Jones has been soaking up an hen the curtain rose for the world pre- Chicago Neighborhood Initiatives Vappreciation for the stock market ever Wmiere of Joffrey Ballet’s new produc- since he landed a job at Omaha, Neb.- tion of “The Nutcracker,” Julia Doherty got based retail stockbroker TD Ameritrade teary and felt chills. It wasn’t just the beauty congratulates Ciere Boatright answering phones in 2007. As a 20-some- of choreographer Christopher Wheeldon’s thing in that role, he says, he learned pa- production, which sets the holiday favor- tience and empathy in taking customer ite in Columbian Exposition-era Chicago. for being chosen for “Crain’s calls. It was Doherty’s sense of accomplishment He came of age in Omaha after his at leading the ef- single mother, an em- fort that in three 40 Under 40.” ployee at Kellogg, was years raised north Age: 38 transferred there from Age: 34 of $4 million to Battle Creek, Mich. TD underwrite the Director of launched his career, CEO new production, principal gifts eventually sending him which premiered We’re proud of the impact Ciere to Singapore, where he Dough Dec. 10, 2016. Joffrey Ballet became director of in- A seven-year has had managing and developing ternational trading and veteran of Jof- operations and met his frey’s development team, Doherty has been more than $350 million of wife. Later he moved to Chicago after the instrumental in restoring nancial vitality to company bought options broker inkOr- PHOTO PROVIDED the company and nding funding for new commercial, industrial and Swim in 2009. sees a sta of 12 employees at a West Loop projects—like “ e Nutcracker”—which DePaul University. She interned in the din- inkOrSwim founder and now Tasty- o ce, but also personally participates have garnered more acclaim for the august ing department at Chicago magazine and residential projects that have Trade co-CEO Tom Sosno was so im- through video and blog posts. company. recently has indulged her love of food by pressed with Jones that he tapped him to It’s been a “challenging” rst year, giv- Since joining its development department baking while sheltering in Flossmoor with start Chicago stock-trading-app company en the pandemic, the emotional toll of in 2013, she has stewarded a $5 million gift her husband and their two young daughters. created thousands of new jobs Dough. TastyTrade invested $20 million the Black Lives Matter protests and lots of that created the company’s rst named po- After college and a stint as an event plan- in the startup, which is aimed at drawing market upheaval, says Jones, who is still sition, the Mary B. Galvin artistic director. ner, she joined Jo rey in 2008 as director of and accelerated the resurgence more young people into trading and in- trying to turn the corner on pro tability (Ashley Wheater holds that title.) Doherty special events. In 2013, she was promoted vesting in the public markets. at the one-year-old company. e turbu- secured $1.2 million to fund the world-pre- to director of development, and has served of Pullman. Sosno says Jones is a new-generation lence was leavened by the birth of his rst miere production of Yuri Possokhov’s “Anna as director of major gifts and chief develop- leader who will appeal to a more diverse child in December. Karenina” and has raised more than $6 mil- ment o cer. In May, Doherty stepped side- audience in a competitive industry. “He’s Ultimately, Jones believes the market lion for the Crisis Stablization Fund, which ways to director of principal gifts. “I missed a strong speaker, and in order to be a suc- chaos makes his brand more valuable. will help Jo rey recover from the nancial and wanted to get back to working with do- cessful CEO in 2020, you have to have a “When volatility shows up, that’s when damage wrought by COVID-19. nors and connecting them with the projects skill set that allows you to articulate your people need a partner,” he says. “We’ve “ e wheels are always turning in her and the things they love,” she says. message,” Sosno says of Jones. “He also essentially tried to carve out that space of mind on how to connect the best of the Jof- Next up: expanding the Crisis Stabilization has a very strong vision.” being a partner to people in the markets.” frey with the best of the donor base, and it’s Fund to Jo rey’s Women’s Board and secur- Jones’ imprint comes through loud and never about her,” says Jason Tyler, CFO at ing funding for new commissions and works cnigroup.org clear at Dough, where he not only over- Lynne Marek Northern Trust and a longtime Jo rey board in progress, including a dance piece tailored ChicagoNeighborhoodInitiatives member. “She’s part of the reason Jo rey has to families to be performed in Chicago. “We A NEW-GENERATION LEADER WHO WILL had the success it has had over the years.” are not hibernating,” Doherty says. Doherty, who grew up in Flossmoor, APPEAL TO A MORE DIVERSE AUDIENCE. earned a bachelor’s degree in English from Lisa Bertagnoli CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 27
JAMES LOTT or James Lott, one of the hard- Fest parts about launching his Age: 35 health-tech startup was balancing the desire to do good with a busi- Founder ness model that’s attractive to in- and CEO vestors looking for big returns. “I might have bleeding-heart Script syndrome,” jokes Lott, whose ex- Health perience as a retail pharmacist helped shape his vision for Chica- go-based Script Health. e pharmacy company, which Lott founded in 2018 while attend- ing the University of Chicago’s Har- ris School of Public Policy, works to ensure all patients have access to essential diagnostic tests and treat- ments. One way it accomplishes that he wants to do good for the world, wanted to make sure that all the is through an online marketplace but I’m also realistic about what patients had a good understanding where anyone—with or without a it takes to raise capital in this en- of the health care system and their prescription—can buy naloxone, a vironment,” says Script Health ad- medications.” medication intended to reverse opi- viser and former Bellevue, Wash., Now Script Health is looking to oid overdose. It has sold thousands Mayor Ron Smith, who has been add to its team of four, participate of doses since launching last year. rooting for Lott since the pair met in tech accelerator programs and Soon the company will launch on an airplane four years ago. raise seed money. e rm has a new service that aims to help re- Lott was working as a Walmart raised about a half-million dollars tail pharmacists quickly prescribe pharmacist in Seattle at the time. from angel investors and startup tests and treatment for common As the son of a single mom in Ba- accelerators. ailments like in uenza. e goal is ton Rouge, La., he says he was “What has been di cult for me is to improve access to health care for drawn to the retail giant out of a (creating) something that provides Americans by expanding the role desire to serve patients with a sim- equity but is also sustainable,” Lott of pharmacists, who are among the ilar upbringing to his own. says. “ at’s not always easy to do, most accessible health care profes- “When I was growing up, I didn’t but I think we’ve gured it out.” sionals in the nation. really understand the health care
PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS Lott is “a big-hearted guy, and system that well,” Lott says. “I Stephanie Goldberg
Chicago Neighborhood Initiatives congratulates Ciere Boatright for being chosen for “Crain’s 40 Under 40.”
We’re proud of the impact Ciere has had managing and developing more than $350 million of commercial, industrial and DePaul University. She interned in the din- ing department at Chicago magazine and residential projects that have recently has indulged her love of food by baking while sheltering in Flossmoor with her husband and their two young daughters. created thousands of new jobs After college and a stint as an event plan- ner, she joined Jo rey in 2008 as director of and accelerated the resurgence special events. In 2013, she was promoted to director of development, and has served of Pullman. as director of major gifts and chief develop- ment o cer. In May, Doherty stepped side- ways to director of principal gifts. “I missed and wanted to get back to working with do- nors and connecting them with the projects and the things they love,” she says. Next up: expanding the Crisis Stabilization Fund to Jo rey’s Women’s Board and secur- cnigroup.org ing funding for new commissions and works in progress, including a dance piece tailored ChicagoNeighborhoodInitiatives to families to be performed in Chicago. “We are not hibernating,” Doherty says.
Lisa Bertagnoli 28 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
UNDER FORTY GARRY COOPER arry Cooper says he’s always and D. James Surmeier were de- tor in Rheaply and CEO of doc- nering with the city of Chicago to Gfollowed the science, even veloping breakthrough drugs for ument management software help local nonprofits and busi- Age: 36 when it meant following a cart of Parkinson’s disease. maker Relativity, says the initial nesses source personal protec- scientific equipment. “I’d been lucky enough to work draw to Cooper was that he was tive equipment during the pan- Founder As founder and CEO of Rheap- in labs with a lot of funding. I “solving a problem that other demic. And that’s why Cooper is and CEO ly, a resource exchange, he’s us- had a lot of friends who were not people were unaware existed. passionate about now applying ing the circular economy to con- as lucky—their labs had a lot less Upon getting to know Garry, the ethic of not throwing any- Rheaply nect institutions and businesses stuff,” Cooper says, so he start- I’ve become impressed that he thing away to people and com- with each other to share, reuse ed his first supply exchange by brings the scientific method to munities. He says connecting and re-imagine materials. carting surplus lab necessities to his approach. There’s a humble- small minority-owned business- Rheaply’s back-end software is other Northwestern labs. ness and objectivity that drives es to one another’s resources can working out the complexities be- Fast-forward a couple of years, him.” bring equity to communities. hind the simple bromides “Waste when Cooper was working in “I don’t normally run to easy “I’m interested in bringing sci- not, want not” and “Share and consulting on bioscience sup- problems,” says Cooper, who was ence into the question of how do share alike.” ply chains. He’d still get emails born and raised in Dayton, Ohio. we get the South Side of Chica- As a neuroscience doctoral from friends in academia asking, “You want to work on things that go looking more like a city than student at Northwestern Uni- “Hey, where’s the cart?” are important, and those things what it looks like now,” he says. versity’s Feinberg School of “I figured maybe we could are not normally straightfor- “That’s definitely a problem Medicine, Cooper managed the build a system instead of a cart,” ward.” that’s not straightforward.” laboratory where Northwestern Cooper says. So he did. That’s why Rheaply launched researchers Richard Silverman Mike Gamson, an angel inves- the Chicago PPE Market, part- Jon Asplund
Age: 38 Founder and CEO NuCurrent ASHLEY PRIDON n January, when the coronavirus was truly novel, Ecolab Ichartered two Boeing 747s to rush disinfectants and other supplies to McDonald’s locations in China. “Little did we know that was the tremor before the earth- quake,” says Ashley Pridon, who manages Ecolab’s McDon- ald’s account, its biggest. e relationship has grown steadi- ly for the water-treatment and industrial- ltration rm. is year, product shipments to Mc- Donald’s are up as much as f- Age: 35 teenfold. Vice president, As McDonald’s expands touch-screen ordering during Global the pandemic, Pridon’s group McDonald’s investigates substances that san- JACOB BABCOCK account itize without degrading kiosks. ost tech hardware entrepre- sumer electronics. “ e business “We trust her. I know she’s got Mneurs spend their time trying had to sort itself out,” says board Ecolab the ear of the (Ecolab) CEO, too, to separate signal from noise. Ja- member Robert Zieserl. “He’s just and that’s important,” says Bob cob Babcock listens for the music. been dogged, driving and driving, Stewart, a corporate vice presi- His company, NuCurrent, came continuing to learn and reinvent.” dent leading supply chain sourcing for McDonald’s. up with new technology to wire- Recent partnerships include Pridon joined St. Paul, Minn.-based Ecolab after majoring lessly charge devices such as cell- smartphone accessory maker in biology at the University of North Carolina and later took phones, tness trackers, earbuds PopSockets, audio equipment a six-year detour to a startup that provided supply chain as- and augmented-reality glasses. maker Klipsch and sporting sistance to McDonald’s. e little rm grew to a $100 million ough he’s a lawyer by training, goods maker Spalding. operation and opened her eyes to the Golden Arches’ sway Babcock is a co-inventor on more NuCurrent has grown to 40 em- with suppliers. than 30 patents. He chalks it up to ployees, but Babcock declines to Since returning to Ecolab in 2016 after earning a Kellogg learning the violin. “I understand disclose the company’s revenue. MBA, she’s been promoted three times. “Her peers are now the technology,” Babcock says. “I Babcock took an unusual route going to work for her,” says Stewart. thoroughly enjoy the physics in to the corner o ce. He spent four Peddling soap hadn’t exactly been on her career horizon what we do. It’s because of my years as a lawyer before turning while moving around the Southeast as her salesman-father foundation in music.” to NuCurrent full time. He started relocated the family. She considered becoming a doctoral- e spark for NuCurrent came out as a business major at Indiana level researcher, but “I think the feedback I received was, I was from an entrepreneurship course University but also developed an a little too loud for the lab setting.” at Northwestern University that interest in criminal justice, which As it turned out, soap became sexy. “Now, you have an ac- brings together students from led to a stint with Teach for Amer- tive desire to see what this cleaning 2.0 is going to look like,” di erent disciplines to collabo- ica. He taught business at Roo- says Pridon, a long-distance runner who in normal times rate on business plans. Babcock, sevelt High School in St. Louis, works out of (and dines at) McDonald’s Near West Side head- a law student, and his partners introducing a business plan com- quarters. wanted to solve a problem with petition. e winner was a music At Ecolab, she’s lent her outside voice to promoting wom- medical devices: how to recharge venture called ’Velt Side Records, en in management. Female participants in an employee re- implants without the hassles and which raised money from rapper source group doubled to more than 4,500 during the two years risks of wires. “We wanted to solve Nelly and football player Marshall she headed it. Chapters jumped to 37 from 17, including one a really big problem,” he says. Faulk. Music sales provided funds in male-ruled Saudi Arabia. He then turned the business to the school’s athletic teams. Her long-term goal: manage a global business. “I’m doing it plan into a company in 2009. “It was a great rst job,” he says. on a small scale now,” she says. Medical technology requires ex- “Where else can you go, right out of tensive regulatory hurdles, so school, and manage 150 people?” Steven R. Strahler Babcock looked elsewhere, even- tually setting his sights on con- John Pletz CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 29
ALEXA JAMES he last half-decade, Alexa TJames has had a front-row seat to Chicago’s thorniest issues. Af- ter publicly pressing Mayor Rahm Emanuel to patch holes in Chi- cago’s crisis intervention system in the wake of the police shooting of Quintonio LeGrier, James was tapped to serve on Emanuel’s Po- lice Accountability Task Force in late 2015. What she thought would end with a report gathering dust on a shelf became a defining moment for the city, for James and for future Mayor Lori Lightfoot. Age: 36 James grew up splitting her time CEO between her par- ents’ homes in NAMI Chicago Lincoln Park and Police Department and driven, but her empathy is Beverly, believing brought James to what makes her e ective. Plus, she she didn’t quite t in either neigh- the Police Accountability Task has “a air and grace that moves borhood. at feeling is part of Force. Lightfoot, the task force people together to nd common what pushed her to psychology chair, had high expectations. She ground.” and social work studies at Loyola “scared the shit out of me” early Months into the COVID-19 ght, University Chicago. She interned on, James recalls. e ultimate re- James says “we have a mental- at mental health nonpro t NAMI port recommended sweeping re- health crisis that is bigger than we Chicago and worked at the Illinois forms to the department, includ- could ever predict.” at is espe- Department of Children & Family ing how police respond to mental cially true for the Chicago cops she Services and a psychiatric hospi- health calls. says she’s been privileged to work tal (with ve years as a bartender But Lightfoot didn’t scare her with for years. Even before 2020’s tossed in). She returned to NAMI o . Four years later, James readi- civil unrest, they were facing long in 2013, rising to CEO this year. ly accepted when Lightfoot asked hours, frequent trauma, hatred e group’s help line elded her to serve on her transition from some of the communities more than 6,000 calls in 2019. It team, and then on the COVID-19 they patrol and a culture that em- also provides mental health train- Recovery Task Force, where she’s phasizes compartmentalization. ing and education for business- made mental health and well- James says it’s NAMI’s obligation es, rst responders, students and ness a centerpiece. James calls to to lean in harder. community organizations. check in on the mayor’s wellness, NAMI’s work with the Chicago too. Lightfoot says James is smart A.D. Quig
AIDAN MOUAT idan Mouat recently saw a Astar fruit in a Chicago grocery Age: 33 store, its skin still showing a hint of green, still fresh. He smiled to Co-founder himself, knowing his company, and CEO Hazel Technologies, likely was re- sponsible. Hazel e company came up with an Technologies environmentally friendly way to keep food from ripening until grow- ers want it to. “If food waste was a country, it would be the third-larg- est emitter of greenhouse gases,” Mouat says. “We’ve xed the pro- duction piece. If we’re wasting 30 to 40 percent of the food we’re pro- ducing, we haven’t xed the distri- bution and e ciency piece.” As a chemist, Mouat knew that the less fruit interacts with eth- ylene, the slower it will ripen. raised $17.5 million and now has poetry with former U.S. poet laure- at knowledge might never have about 30 employees and 150 cus- ate Natasha Trethewey when she amounted to anything had he not tomers, including the largest avo- was poet in residence at Emory. landed in an entrepreneurship cado grower in the world. Mouat applied to a master’s in course while working toward a “ at’s what innovation looks ne arts program as well as chem- doctorate in chemistry at North- like sometimes: Two hungover istry programs. He was consid- western University. grad students are eating Domi- ering opening a brewery with a He wanted to drop the course. In- no’s; ve years later they have a friend when he got accepted into stead, he and fellow student Adam company,” Mouat says. Northwestern. He still brews beer, Preslar (who would become his Mouat had no plans to be a start- distills whiskey and makes cheese. co-founder) started brainstorm- up founder. He could have been a “He’s smart, gregarious and ing business ideas, talking about brewer, a musician or a poet. He very creative,” says Tobin Marks, small-molecule signaling pathways. grew up in Atlanta and studied a Northwestern chemistry profes- ey recruited three others, and the chemistry at Emory University, sor and proli c inventor, who was idea took o , winning grants and where his Chilean father was a Mouat’s adviser. “He’s unstoppa- several business plan competitions. professor of comparative litera- ble.” It took a couple of years for a ture. He studied guitar and played
PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS product to emerge. e company gigs as a teenager. He also studied John Pletz 30 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
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Age: 39 KAM KNISS Alderman, am Kniss grew up in Illinois commercial lending group, help- athlete in high school and a four- 49th Ward Kfarm country and quarter- ing to transform Wintrust from a year starting quarterback in college. City of backed his college football team, mainly suburban bank to one of He jokes that he made an NFL high- Naperville’s North Central Col- Chicago’s strongest business banks. light reel. “It was from a guy who Chicago lege, to a division championship. He became one of Wintrust’s lead- sacked me so hard (in college) that Now he’s calling plays at the sixth ers in nancing the deals of local he put it in his highlight reel.” largest of Wintrust Financial’s 14 private-equity rms (along with Despite the game’s injury risks, separately chartered banks in the the normal array of family-owned Kniss remains an ardent football Chicago area. companies) and led a team with a booster, saying he would allow any Wintrust’s Wheaton Bank & portfolio of more than $500 million of his three kids to play once they’re Trust has $2.6 billion in assets, in loan commitments when his big old enough. He calls it “the greatest enough to make it one of the larg- promotion arrived. life game . . . because no one sin- est locally based banks. Kniss was “He’s just a winner,” says Nate gle individual can win a game. You named CEO late last year, making Good, partner at Chicago’s Prairie have to have all 11 players working him the youngest to lead one of Capital, which has $740 million in in unison to make a play work.” $44 billion-asset Wintrust’s banks, assets under management. “Some It’s the same in banking, he says. following 10 years as a commercial people like that, it’s win at all costs. Lenders tend to clients, credit an- banker at Rosemont-based Win- But what Kam recognizes is every- alysts make sure the loans are ap- trust’s Loop o ce. body can win (in a deal). It’s not a propriate, and a good team wins. Kniss, who began his banking zero-sum game for him.” Old-fashioned. And refreshing at career out of college with Oak Park- Kniss grew up in Lanark in far the same time. based Park National Bank, was one northwestern Illinois, a town of of the rst to join the downtown about 1,100. He was a three-sport Steve Daniels
“THE FIRST THING YOU CIERE NOTICE ABOUT BOATRIGHT MARIA HER IS iere Boatright recalls grow- HER Cing up in Grand Crossing HADDEN PASSION on Chicago’s South Side and leaving the neighborhood for FOR routine errands like grocery shopping or restaurant outings. aria Hadden has had a public health emergencies like WORK.” “A really early observation I Mhandy mix of jobs that fit COVID-19. “I wanted to rebuild made was that we left our neigh- well for Chicago’s modern polit- trust in government, to bring borhood for everything.” ical moment: salesmanship she transparency and accountability, As head of real estate at Chi- learned from a short stint selling but also make government more cago Neighborhood Initiatives, art door to door, street fundrais- accessible to people,” she says. a nonpro t community devel- ing and years working at Cingular e Ohio native from a big opment organization based Wireless (later AT&T). Commu- working-class family describes in the Far South Side Pullman nity engagement from running herself as pragmatic, grounded, neighborhood, Boatright has groups like the national Partici- orderly and a bit bossy with a forged a career addressing food, patory Budgeting Project, which hint of “arbitrary rebelliousness.” retail and housing deserts in teaches cities She came to Chicago neighborhoods. how to bring PRAGMATIC, the Chicago She has spearheaded well- constituents area for a job known projects such as the into the bud- GROUNDED, writing grants 75,000-square-foot Gotham geting process. with Ameri- Greens rooftop greenhouse But one of the ORDERLY AND Corps VISTA, in Pullman, the Mariano’s in most useful tal- got a master’s Bronzeville and the Whole ents might be A BIT BOSSY. from DePaul Foods warehouse in Pullman. conflict resolu- University and Her work on $400 million tion—training she first received is now rmly cemented here, the worth of economic develop- in high school, then pursued fur- rst gay woman of color on the ment has helped create 1,800 ther with a degree in internation- City Council. jobs in parts of the city where al peace and conflict studies at Longtime friend Shari Davis, employment opportunities are Ohio State University. who followed Hadden’s footsteps relatively few. “ ere are a lot of applicable at the Participatory Budgeting “ e rst thing you notice skills,” she half-jokes about the Project and social justice activist about her is her passion for her sometimes-raucous City Coun- group Black Youth Project 100, work,” says Angelica Marks, for- cil she joined in 2019. She rep- says Hadden is an inspiration to merly a colleague of Boatright’s resents Rogers Park, one of the other queer black feminists like at CNI and currently associate most diverse wards in the city, her, but also “a model of how to vice president for real estate after defeating 28-year veteran not only wield power but share operations at the University of Ald. Joe Moore in the rst round it for real for the purpose of the Chicago. “ at commitment of voting (in part by talking to collective.” is authentic and comes from a everyone Moore had previously “She probably has more expe- place of shared experience.” beaten). rience to do deep civic engage- Boatright is the youngest of She spent her rst six months ment and infrastructure build- four, raised by a single mother in o ce making sure ward ser- ing than, likely, anyone in the who worked for a company re- vices were up to snu . Not long country,” Davis says. “It’s a lot of ferring unemployed Chicagoans after, she pulled o the rare feat of responsibility, but she’s uniquely to job training programs. She negotiating and passing her own positioned to crush it.” was a stellar student and ob- ordinance mandating wellness checks of senior residents during A.D. Quig CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 31
KAM KNISS Age: 35 RODRIGO GARCIA CEO athlete in high school and a four- s State Treasurer Michael year starting quarterback in college. Wheaton AFrerichs’ No. 2, Rodrigo Age: 37 He jokes that he made an NFL high- Bank & Trust Garcia has a massive finance job. light reel. “It was from a guy who He’s chief financial officer and Deputy state sacked me so hard (in college) that chief investment officer for that treasurer he put it in his highlight reel.” Illinois state government office, Despite the game’s injury risks, overseeing a $3.2 billion budget, Kniss remains an ardent football a $300 billion banking and finan- booster, saying he would allow any cial services operation, and $35 of his three kids to play once they’re billion in investment capital. old enough. He calls it “the greatest Garcia was mulling what to life game . . . because no one sin- do with his life in his 20s, during gle individual can win a game. You three deployments with the Ma- have to have all 11 players working rines to Iraq and Afghanistan, in unison to make a play work.” when a peer pointed out that he It’s the same in banking, he says. had a knack for money matters. Lenders tend to clients, credit an- He ordered “Investing for Dum- alysts make sure the loans are ap- mies,” followed up with an order propriate, and a good team wins. for “ e Complete Idiot’s Guide Old-fashioned. And refreshing at to Investing.” A career in nance the same time. was born, and his military expe- rience and desire to help people Steve Daniels segued it into public policy work. nance from Northeastern Illinois ful,” Quinn says. “I love this country even though University. Later, he also got an Alongside his money manage- I know it’s not perfect,” Garcia MBA from the University of Illi- ment duties, Garcia still puts a says. “I feel like I need to give back nois at Chicago and a master’s priority on public policy goals, to it like it gave back to me.” in public policy from Northwest- like seeking more diversity on A childhood in the Little Vil- ern University. It’s little wonder the boards of companies the lage neighborhood, where he saw that Garcia became an advocate state invests in and nding ways people shot, jailed and sometimes on campus for veterans’ causes, to help Illinois residents nance wind up dead, prepared him for helping to create the Student education. CIERE the trauma of the military, he says. Veterans of America to press at doesn’t leave much leisure In his rst deployment, he man- Congress for more tuition and time, but the former Marine still aged communications between housing funds for ex-soldiers. keeps t, listening to audiobooks air bomb squads and infantry, at work got the attention as he runs in the Little Village BOATRIGHT and later was a “ri eman” with of then-Gov. Pat Quinn, who neighborhood, where he still lives. an M16 guarding camps and pro- tapped Garcia to lead the state’s He’s also an avid investor who has iere Boatright recalls grow- tecting convoys, among other du- Veterans’ A airs Department, joined other Latino venture capi- Cing up in Grand Crossing Age: 37 ties. “ e Marine Corps gave me a where he pursued health care, talists to place money with wom- on Chicago’s South Side and primer in leadership,” he says. housing and other bene ts for en- and minority-owned startups. leaving the neighborhood for Vice president of real It also gave him the oppor- vets. “Rodrigo was very active in routine errands like grocery estate and inclusion tunity to earn a bachelor’s in - making those initiatives success- Lynne Marek shopping or restaurant outings. Chicago Neighborhood “A really early observation I made was that we left our neigh- Initiatives borhood for everything.” As head of real estate at Chi- cago Neighborhood Initiatives, tained a full ride to attend Ham- a nonpro t community devel- ilton College, a small liberal arts MATT MIXTER opment organization based school in upstate New York. t’s hard to believe a nearly $300 in the Far South Side Pullman After graduation, she re- Imillion business could sprout Age: 37 neighborhood, Boatright has turned to Chicago and took from an 800-square-foot frozen forged a career addressing food, a job at Park National Bank, seafood shop, but that’s essen- Managing retail and housing deserts in based in Oak Park. Formed a tially what happened after Matt partner, Hofseth Chicago neighborhoods. decade ago, CNI grew out of Mixter opened Wixter Market in North America She has spearheaded well- Park’s focus on low-income Wicker Park in 2015. That year, known projects such as the neighborhoods after U.S. Bank the store, which sells sustain- CEO, Wixter 75,000-square-foot Gotham acquired Park’s deposits and ably harvested, high-quality, Holdings Greens rooftop greenhouse assets when it failed in 2009. flash-frozen and canned sea- in Pullman, the Mariano’s in Boatright earned an ur- food from around the world, did Bronzeville and the Whole ban-planning graduate degree $200,000 in revenue. In 2019, that Foods warehouse in Pullman. from the University of Illinois grew to $920,000, and it’s on track Her work on $400 million at Chicago, studying at night for $1.1 million in sales in 2020. worth of economic develop- while also tending to two young But that’s just part of Mixter’s ment has helped create 1,800 children with her husband. success. Shortly after opening jobs in parts of the city where At CNI, she has been instru- Wixter Market, Mixter partnered employment opportunities are mental in transforming Pull- with Roger Hofseth, CEO of Nor- relatively few. man into a vibrant neighbor- wegian seafood supplier Hofseth “ e rst thing you notice hood, with projects including a International, to start Hofseth about her is her passion for her 135,000-square-foot community North America. e two met in work,” says Angelica Marks, for- center providing recreation for 2009 at a Boston seafood show salmon, mahi-mahi, cod, scal- Adam Greenberger, a friend merly a colleague of Boatright’s kids, a food hall where budding when Mixter was working in pro- lops and shrimp. It’s being sold and managing partner at New at CNI and currently associate and established chefs can test curement at Highland Park-based through e-commerce and in York-based Seurat Group, which vice president for real estate their menus, and 38 a ordable Mazzetta, one of the world’s larg- about 800 grocery stores in the consulted on the launch of operations at the University of loft apartments for artists along est seafood companies, owned by Midwest and Northeast, including Wixter Seafood, says of Mixter, Chicago. “ at commitment with 2,000 square feet of gallery his uncle Tom Mazzetta. Local Foods, Pete’s Fresh Market, “Matt’s a guy who feels he can is authentic and comes from a space. She says she’s doing the Mixter took Hofseth North Standard Market, Wegmans and always do better, do more. He’s place of shared experience.” work she was meant to do. America’s sales from $37 million Meijer. A line of tinned seafood is passionate about seafood and Boatright is the youngest of “I want to do this in more in 2017 to $240 million in 2019 being introduced this month, and better seafood. He wanted peo- four, raised by a single mother neighborhoods,” she says. “I and is on track to hit revenue of Mixter is in talks to expand the ple to understand and appreci- who worked for a company re- want to take this show on the $290 million in 2020 (about 55 brand into Western states. ate why it’s better for the planet ferring unemployed Chicagoans road.” percent of Hofseth International’s “Why wasn’t anyone promot- and your body. It’s a true disrup- to job training programs. She total revenue) with 16 employees. ing the bene ts of frozen?” Mix- tive brand in a category scream- was a stellar student and ob- Steve Daniels is summer, Mixter launched ter says. “We want more frozen ing for disruption.” Wixter Seafood, a ash-frozen products consumed because it’s
PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS packaged-goods line, including more sustainable.” Ari Bendersky 32 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
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EMILY VACA
hen Emily Vaca says constraints on supply. Wone order per customer, Vaca nanced Minnidip ini- she means it—the pandemic tially with her salary and in- triggered a run on her adult- vestments from friends and themed plastic pools. family, then landed a bank line In pre-coronavirus times, of credit and worked out pay- her rm, Min- ment structures with manufac- nidip, grew turers, primarily in China. “ e Age: 35 out of want- continuous need for capital is ing something the hardest,” she says. CEO and for rooftop An only child of artistic par- creative guests to dip ents, Vaca was voted most like- director their toes in. ly to win on “American Idol” She blanched by her high school peers in St. Minnidip at the car- Louis. She took a gap year in toonish, “sad, California, chasing the dream blue” prod- as a singer before majoring in ucts ruling the children’s mar- art and design at DePaul Uni- ket and used her design skills to versity. create fashion-forward pools, At VSA Partners, she created plus accessories like oats and “narratives” for craft breweries coolers, with price points under acquired by AB InBev and, for a $100. year, moonlighted on Minnidip. “I was in a lucky position,” “I’ve never seen anybody drink having worked at three Chi- as much co ee as she did,” says cago ad agencies and with VSA Executive Creative Direc- uber-marketer clients like Nike tor Josh Witherspoon. and AB InBev, she says. “I could Vaca quit her day job, as did basically build a brand for free. her art director husband, Da- I was armed to do that with the vid. Minnidip’s third hire is a experience I had.” design director. A new ware- After selling 500 units in 2017, house in Logan Square has Minnidip elbowed its way onto room among its 8,000 square Target’s website and then into feet for retail and to showcase the retailer’s stores. Volume neighborhood businesses. hit 100,000 last year, and then Vaca is realistic about pit- came the tidal wave as beach- falls, including competition es and public pools closed. On sparked by Minnidip’s success. May 17, the goods were gone For now, retailers are knocking on QVC in less than 10 minutes. on her door. Bloomingdale’s, Peak daily sales this year, in Au- Anthropologie, Chapters In- gust, jumped 37-fold over last digo and Urban Outfitters al- year. Revenue is expected to ready are on board. double this year, to $5 million, and again next year, revealing Steven R. Strahler
EDDIE GARCIA ddie Garcia’s first U.S. home About 90 percent of the home- Rep. Jesus “Chuy” Garcia, D-Ill., Ewas a one-bedroom Albany buyers Realty of Chicago rep- who’s no relation. “He’s a decent, Park apartment where he lived resents are rst-timers, and caring individual who’s achieved with 10 other family members in they’re largely Latino, Garcia says. a lot through hard work and hus- 1994. Now, from a stylish barn- is, or something much like it, tle, and he does good things for his wood-and-glass office on Cermak was Garcia’s goal in 2006, when he community.” Road in Berwyn, Garcia runs one walked 3 miles down Cermak Road Among those: annual giveaways of the city’s largest real estate bro- trying to get a job in real estate. He of 2,000 backpacks loaded with kerages focusing on the Latino tried 12 brokerages that catered to school supplies at the start of the market, Realty of Chicago, which the Hispanic market before getting school year and 2,000 turkeys at he launched in 2012 at age 28. hired by the 13th, Southwest Sub- anksgiving. is, too, is inspired Real estate, Garcia says, “is a great urban Realty (which later closed). by Garcia’s own past; he recalls hav- profession because you can help “I didn’t want to be the guy who ing to reuse old school supplies un- people become owners of a piece of sells a few houses,” Garcia recalls. til they wore out and anksgivings the American Dream.” Garcia’s rm “I wanted to sell 500, 600 a year.” that often didn’t include a turkey. has four o ces—three of them in at level of ambition comes “It was true poverty level,” Garcia Chicago—and 150 licensed agents. from his parents, Aristeo and Flor- says. “So when people say, ‘You’ve Since opening in 2012, he says, the encia Garcia. ey came to Chica- done well—your parents must be rm has handled about $900 mil- go from Mexico City with their two proud,’ ” he replies that his parents lion in residential transactions. By children, and Aristeo Garcia rose didn’t just start from nothing, they mid-August, it had done about 780 from cleaning oors to owning a “started from level negative 15, so transactions and was on pace to hit transmission shop, car rental loca- where we are now feels good.” its annual goal of 1,000, despite set- tions and other businesses. backs from the COVID-19 crisis. “Eddie works so hard,” says U.S. Dennis Rodkin CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 33
SALMA KHALEQ alma Khaleq was intimately Sfamiliar with just about every Age: 35 type of health insurance policy on the market long before joining Vice president of Blue Cross & Blue Shield of Illinois. provider strategy and Since she was a teenager, Khaleq partnerships would help her dad, a small-busi- ness owner with several medical Blue Cross & Blue conditions, navigate coverage op- Shield of Illinois tions—from pricey private health plans to government-funded Med- icaid and, eventually, Medicare Illinois, or BCBSIL. A former law- Advantage. yer, she was instrumental in the “ at was such an indication of company’s 2014 health insurance how challenging it is to be in the marketplace debut under the Af- U.S. and not have the ability to af- fordable Care Act. remember riding with her in an el- ical services that drive up health ford decent coverage,” says Kha- “We learned a lot from that ex- evator and saying, ‘It’s clear who’s care spending. leq, whose family moved to the perience,” Khaleq says, noting the running this.’ ” “I think of Salma as a Swiss Army U.S. from Egypt when she was 6. growing pains that many health Now, as vice president of pro- Knife with so many contributing “I’m in health care because I fun- insurers had when the exchanges vider strategy and partnerships, dimensions,” Hamman says. “It’s damentally believe that access and rst started. Khaleq continues to work toward not just the number of dimen- a ordability are rights and people BCBSIL President Steve Ham- making health care more accessi- sions, but the depth of each that shouldn’t have to struggle to a ord man says he remembers being ble and a ordable. For example, truly sets her apart. Take that and their coverage or to have things be wowed during the ACA implemen- she’s focused on the role health couple it with her unwavering pas- covered by their insurance carrier.” tation by Khaleq’s “ability to take a insurers play in the shift toward sion for creating value for custom- Khaleq’s experience as a con- very complex business and opera- value-based payments, which aim ers—she’s a dynamo.” sumer has shaped the way she ap- tional challenge and turn it into a to reward e ective patient care proaches her work at Blue Cross of competitive advantage. I distinctly while curbing super uous med- Stephanie Goldberg
Age: 33 DAVID RABIE CEO ive years ago, selling David and his team have made all Chicago FWi-Fi-connected countertop three successful at the same time.” Scoops ovens with ready-to-cook meals Rabie averted disaster early on, didn’t seem like such a hot idea. when the company was about to In the era of COVID, it seems deliver its rst ovens to customers like a no-brainer. Tovala’s sales in 2017. ey were being made by have quadrupled in the past year. a contract manufacturer in China, e company now has more which was supposed to ship them than 15,000 customers and 150 directly to Kickstarter customers. employees, and it recently raised Rabie and his team decided to $20 million. overnight a few of them for testing, David Rabie came up with the despite a hefty $2,000 shipping idea when he got to the Univer- charge. “We found some glaring sity of Chicago’s Booth School problems,” he says. “If they had of Business and found he didn’t gone out to customers, it would KYLE WELCH have time for high-quality, have capsized the company.” home-cooked meals. e solu- Rabie grew up in Los Angeles, yle Welch goes way, way back later demonstrated with Chicago tion was complicated: designing where his dad was a real estate Kwith Antonio Gracias, the Chi- Scoops, which has annual sales of and building an oven with con- developer. “I didn’t want to work cago private-equity maven and $20 million. vection and steam capabilities, in real estate, but I knew I wanted early backer of Elon Musk’s Tes- Welch was dazzled by the long as well software to control mul- to work for myself,” he says. He la Motors and SpaceX ventures. tracking shot in “Goodfellas,” tiple cooking functions while speaks three languages in addi- Gracias was the ring bearer at the where Henry Hill greases palms making a dish with di erent in- tion to English. He studied Span- Detroit wedding of Welch’s par- with double sawbucks, impressing gredients, then coming up with ish in high school. His parents ents before the families moved to his date, as they negotiate the un- packaged meals to cook in it. and their families spoke Farsi. Age: 36 Grand Rapids. derground labyrinth of a nightclub “Tovala is a complex bundle of His mother, who studied French Founder e connection led to a post-col- before emerging to a ready-made businesses: food production, soft- while living in Paris, taught him lege internship for Welch at a Utah table in front of the stage: “I just re- ware, hardware,” says Jason Helt- the language as a child by speak- and restaurant company in Gracias’ member being younger, being like, zer, a partner at Origin Ventures, ing to him only in French. president Valor Equity Partners portfolio. ‘Yeah, I want to do that someday.’ ” which invested in Tovala. “Any one Realty of From there, Welch pursued a But as in the movies—especially of those is hard to make successful. John Pletz food-industry career that spawned that one—not every ending is rosy. Chicago Chicago Scoops, a franchisee of 43 Epic Burger, a small fast-food (goal: 100) Cold Stone Creamery chain that Welch and partners Age: 33 locations. had hoped to expand through the ough there’s no formal rela- Midwest, stumbled during the Co-founder tionship between two rms, Welch pandemic and civil unrest. As sales and CEO and Valor partners swap what they fell, its venture-capital backer took know about the latest trends in control and Welch and his team Tovala restaurant innovation. exited in late summer. Welch has experimented with “It’s been extremely, extremely automated checklists for employ- challenging for us,” Welch said in ees, surveillance cameras linked to August. cash registers and, even before the Undaunted, Welch is prowling pandemic, a pivot to delivery and for other companies to run. “We pop-up drive-thrus. probably look at something new “You name it, we try it, we do it,” on a daily or weekly basis,” he says. says Welch, who in 2012 opened “I don’t want to limit myself to the rst of two Little Caesars piz- food, but it is what I love.” za franchises here before deciding
the concept lacked the scalability Steven R. Strahler BOEHM R. JOHN BY PHOTOS 34 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
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Age: 37 Founder and CEO PATRICK Brown Bag Seafood Co. MARTIN atrick Martin grew up in PChicago’s suburbs, but Age: 33 from the moment he arrived as a 17-year-old intern in fresh- Principal and man Sen. Barack Obama’s of- director, Midwest fice in Washington, D.C., he region yearned for a fast life in poli- tics in the nation’s capital. Af- Cozen O’Connor ter earning an undergraduate Public Strategies degree in economics at the University of Illinois, he was back working for Obama, this time as a White House intern Current clients include Can- and later as a legislative cor- opy Growth, a big Canadian respondent for Indiana Sen. cannabis company, and the Evan Bayh. Premium Cigar Association, “I got the bug early on,” Mar- with Martin taking a nonpar- tin says. “I liked being in the tisan approach that nds him middle of the action in Wash- equally at ease working for both DONNA LEE ington.” liberal and conservative causes. Marriage can change pri- Says Bayh, who served as Mar- ince her first hostess job at can be added to a sandwich, sal- evolved naturally.” orities, of course. After a sev- tin’s mentor in Washington, Sage 16 at Evanston’s Blind ad, taco, plate or grain bowl, grew While the COVID-19 pandemic en-year career as a lobbyist “Any lobbyist who takes a parti- Faith Cafe, Donna Lee has loved from one restaurant on Randolph forced Lee to temporarily close working for the consulting arm san approach can look forward restaurants’ energy. She worked Street across from Millennium ve Loop locations that remain of law rm McGuireWoods’ to a feast-or-famine career, at upscale spots like Quince and Park to eight in Chicago, with rev- shuttered , in August she opened a Washington o ce, Martin depending on who is in o ce. Boka, but when her attention enue going from $716,000 in 2014 location in the former Toast space married a Chicago high school Patrick is taking a very reason- shifted to fast casual, she became to a projected $6.5 million in 2020. in Lincoln Park that has a delivery teacher and moved back here, able approach to the business.” general manager of a Noodles & Revenue grew 41 percent between and takeout focus. “We’re looking signing on with another power- Martin is an active member Company location for four years. 2018 and 2019 alone. And in Octo- to see how we can serve people house law rm, Cozen O’Con- of the University of Illinois’ “I worked in fancy dining rooms ber, Lee opened a shop in Atlanta, and how we can get our food to nor, taking on the task of build- alumni association and, as a but couldn’t see what fast-casu- the rst of four she plans there. them when the downtown radius ing the Philadelphia rm’s rst devout Catholic, serves on the al, multiunit business was about Lee equates being part of her isn’t good for everyone,” she says. lobbying o ce in the Midwest. Junior Board of Catholic Char- without that experience,” she says. team at Brown Bag to attending “We know that downtown is going From virtually nothing, ities. Recently he has come Her entrepreneurial drive summer camp: It’s a fun place to be slow to come back.” Martin, who now lives in Glen to terms with the di erenc- kicked in around the time she with great people having experi- “She’s built such a great cul- Ellyn with his wife and two es between Washington and became a pescatarian and was ences and learning lessons that ture that people are willing to be young children, has built in Spring eld, nding advantag- looking for high-quality, a ord- last a lifetime. In fact, Lee, a camp- part of her dream,” says longtime just two short years an o ce es in the latter. able seafood. It didn’t exist, so er at Michigan’s Camp Echo while friend Kevin Boehm, co-founder employing a half-dozen lobby- “ ere is quite a lot of inertia in 2014 she launched Brown growing up in Evanston, used it as of Boka Restaurant Group, who ists working with a blue-chip in Washington today,” he says. Bag Seafood Co., a quick-service a guide to build a strong, diverse hired her in 2003. “If you don’t roster of clients including Ex- “But at the state level, so many sustainable-seafood restaurant, team, many of whom started as have people willing to be part of elon, CVS, Starbucks and Bank bills get passed every session. with nancial help from friends line cooks and now are managers. your dream, you won’t be suc- of America. e practice has You really get to see the fruits and family. “I had to believe Lee has worked hard to grow cessful. She was able to sell it and grown beyond Spring eld and of your labor.” I wasn’t the only person who her leadership team—mostly lead by example.” Just like a great Chicago to big cities through- wanted that food.” women and people of color— summer camp leader. out the heartland. H. Lee Murphy She was right: Brown Bag, from within. “As people struggle which o ers fresh seafood that to diversify,” she says, “we’ve Ari Bendersky
KIMBERLY DOWDELL TOMMY CHOI
imberly Dowdell is a change and engineering rm HOK’s Chi- ommy Choi admits that Kagent disguised as an archi- cago o ce, leads groups exploring Age: 37 Twhen he started a two-per- tect, looking to her profession for redevelopment initiatives in Little son real estate brokerage in 2007, solutions to some of society’s big- Village and Bronzeville with the Director of business Weinberg Choi Residential, with gest problems. Chicago Central Area Committee. development Josh Weinberg, he didn’t know as As an undergraduate at Cor- “She has kind of a soft humili- HOK Chicago much as he should have. nell University, the Detroit native ty, but she is so wicked smart and When a potential client asked co-founded the Social Economic generous with her time,” says Kelly if Choi’s edgling rm had ac- Environmental Design Network, an O’Brien, the civic group’s execu- cess to REOs, “I said, ‘Sure we initiative that sets economic, social tive director. gave Dowdell, president of the do,’ ” Choi says, “but then I had and environmental justice stan- Dowdell may have picked up National Organization of Minori- to Google to nd out what an dards for projects. Ten years ago, her generosity from her late fa- ty Architects, an opening to dis- REO is.” (It’s property owned by she came up with a personal mis- ther, omas Cobb, an artist who cuss how her profession can help a bank’s real estate department.) sion statement: “To improve the shared his love of art with her x the country’s racial inequities. Choi learned fast, and his quality of life for people in cities.” and other children. “He de nitely Media interviews followed, along reach has been growing ever is year, Dowdell, who went on planted those seeds with a lot of with a column she wrote for Fast And she’s especially proud that grace under pressure, says Riccar- since. He’s now co-owner of the to earn a master’s in public admin- people,” she says. Company magazine, “Racism is the Washington-based group has do Mascia, managing principal of Keller Williams Chicago-Lincoln istration from Harvard University, e architect’s 79-year-old fa- built into U.S. cities. Here’s how more than doubled its member- HOK’s Chicago studio, who hired Park ONE franchise, with about won the American Institute of Ar- ther died at the end of April, just architects can ght back.” ship, to 2,000, since she became Dowdell in 2019. “Her capacity is 450 agents. (Weinberg is, too.) In chitects’ Young Architect Award days after he tested positive for As NOMA’s president, a role president in January 2019. quite unbelievable,” Mascia says. 2019, Choi was involved in $71.7 for her “exceptional leadership” COVID-19 in the Detroit nursing she relinquishes in December, e events of 2020 have tested “She’s quite un appable that way.” million in home sales, while also and “signi cant contributions” home where he lived. Dowdell has brought an architect Dowdell, whose day job keeps her Adds O’Brien: “She’s kind of an serving as president of the Chi- to the eld. In Chicago, Dowdell, About a month later, protests and planner’s perspective to the busy, too. “ is has been an espe- overall wonder woman.” cago Association of Realtors, the who is director of business de- over the death of George Floyd recent debate over how the coun- cially intense year,” she says. rst Korean American to head velopment in design, architecture erupted around the country. at try can bridge its racial divides. But she has shown extraordinary Alby Gallun the in uential group. In 2021, CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 35
Age: 33
Principal and FOUNDATION/YOUTUBE FAMILY WALTON director, Midwest region Cozen O’Connor LUKAS Public Strategies WALTON
Current clients include Can- Age: 34 opy Growth, a big Canadian cannabis company, and the Co-founder Premium Cigar Association, The Builders Initiative with Martin taking a nonpar- tisan approach that nds him equally at ease working for both ukas Walton inherited a stake liberal and conservative causes. Leventually worth $1.6 billion Says Bayh, who served as Mar- in renewable energy firm First So- tin’s mentor in Washington, lar—a fraction of an investment “Any lobbyist who takes a parti- portfolio making him Illinois’ san approach can look forward wealthiest resident. to a feast-or-famine career, Now, the Walmart family heir is depending on who is in o ce. redeploying much of his First Solar Patrick is taking a very reason- holdings into environmental and able approach to the business.” social causes. Martin is an active member e shift symbolizes Walton’s of the University of Illinois’ broader philanthropic mission em- alumni association and, as a bodied in his nascent foundation, devout Catholic, serves on the the Builders Initiative, oriented Junior Board of Catholic Char- toward renewable food and en- ities. Recently he has come ergy programs and the outdoors. to terms with the di erenc- Among its local grants: $500,000 to es between Washington and Big Marsh Park, a 278-acre former Spring eld, nding advantag- steel site on the Southeast Side, and es in the latter. a donation to the startup Chicago “ ere is quite a lot of inertia Region Food System Fund. in Washington today,” he says. After growing up in the West and “But at the state level, so many moving here for an internship in bills get passed every session. 2011, the publicity-shy grandson of You really get to see the fruits Sam Walton has remained “won- of your labor.” derfully unpretentious,” according to Howard Learner, whose Envi- H. Lee Murphy ronmental Law & Policy Center is a Builders Initiative bene ciary.
PHOTOS BY JOHN R. BOEHM R. JOHN BY PHOTOS It is said that Walton met his wife, Samantha, on the Blue Line to O’Hare. (He ies commercial, though not always.) She’s listed as an equal to Walton in Builders Ini- Age: 39 tiative lings. TOMMY CHOI A job posting for the foundation Co-owner says it doles out about $30 million ommy Choi admits that he’ll be the rst Asian American Keller Williams to $50 million annually and is “ex- vice president of the National As- pected to scale signi cantly over the Twhen he started a two-per- Chicago-Lincoln son real estate brokerage in 2007, sociation of Realtors. next few years.” Weinberg Choi Residential, with During Choi’s presidency at Park ONE Compared with traditional Josh Weinberg, he didn’t know as CAR, he led the board’s e ort philanthropy, impact investors like much as he should have. to issue a formal apology for Walton impose discipline on recip- When a potential client asked its historical role in discrim- ients that, in turn, opens doors to if Choi’s edgling rm had ac- inatory housing practices, at more risk-averse investors, accord- cess to REOs, “I said, ‘Sure we a half-century celebration of ing to Robert Gertner, a University do,’ ” Choi says, “but then I had the federal Fair Housing Laws. of Chicago business professor. “You to Google to nd out what an “Tommy said, ‘We need to make actually act as a catalyst,” he says. REO is.” (It’s property owned by this happen,’ ” says Michelle Walton has a lot to put into the a bank’s real estate department.) Mills Clement, CAR’s CEO and a mix. e Bloomberg Billionaires Choi learned fast, and his member of Crain’s 2019 40 Un- Index says he’s worth $21.8 billion, reach has been growing ever der 40 class. making him among the world’s 60 grace under pressure, says Riccar- since. He’s now co-owner of the Wanting to ensure that the When a few people in the audi- Korean immigrant who owned richest individuals. do Mascia, managing principal of Keller Williams Chicago-Lincoln statement had impact, Choi ence didn’t agree, Mills Clement a dry-cleaning business, Choi’s In addition to selling slightly HOK’s Chicago studio, who hired Park ONE franchise, with about asked the entire board to stand says, Choi arranged to meet with grandfather was proud of his more than a third of his First Solar Dowdell in 2019. “Her capacity is 450 agents. (Weinberg is, too.) In on stage with him while he read them later to discuss their resis- home in the Mayfair neighbor- stake in September, he plans to do- quite unbelievable,” Mascia says. 2019, Choi was involved in $71.7 the apology at an event at the tance. hood “not only because he had nate an equal number of shares to “She’s quite un appable that way.” million in home sales, while also South Shore Cultural Center. “He Choi, part of the rst gener- a roof over his head, but because COVID-19 relief and environment- Adds O’Brien: “She’s kind of an serving as president of the Chi- said, ‘I want this out there in a ation of his family born in this this piece of Chicago, this piece and social-related charities, the overall wonder woman.” cago Association of Realtors, the united voice,’ ” Mills Clement country, learned from his grand- of America, was his.” company says. rst Korean American to head says. “ ‘It’s not just my voice.’ at father that the value of owning Alby Gallun the in uential group. In 2021, was quite a moment.” a home isn’t only nancial. A Dennis Rodkin Steven R. Strahler 36 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
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LAKSHMI WARRIOR Age: 32 oon after Dr. Lakshmi Warrior e goal is to prevent future strokes President Sstarted working as a neurologist by providing a comprehensive pre- and CEO at Cook County Health, she noticed vention plan. Illinois Hotel that many of her stroke patients Warrior’s colleagues have em- were younger and sicker than oth- braced the model, which embodies & Lodging ers in the state. Some had under- Cook County Health’s mission to Association lying conditions they didn’t know care for patients regardless of their about, while others didn’t have ac- ability to pay. cess to nutritious foods. Warrior “refuses to accept that “You realize that this is what anything but the best for our pa- happens when patients don’t have tients is good enough,” says Dr. Suja insurance and aren’t plugged into Mathew, department of medicine the system,” says Warrior, now neu- chair at Cook County Health. “She rology chair at two-hospital Cook maintains a very high standard and County Health and medical direc- holds the people around her ac- tor of the stroke program at Stroger countable.” Hospital. “ is is the manifestation While Warrior always wanted to of systemic racism in neurology. be a doctor, she didn’t always see MICHAEL Just giving someone an aspirin isn’t herself as a leader. going to cure this problem. ey still But after having her second child don’t have access to healthy foods.” and reading Sheryl Sandberg’s JACOBSON Warrior launched the health sys- “Lean In” (“It’s kind of cliche,” she tem’s Stroke Center in 2016 to ad- jokes), she decided to reach for new dress disparities and improve the opportunities (like getting her mas- health of her patients. e clinic ter’s degree from Johns Hopkins aims to identify social factors that Bloomberg School of Public Health) a ect health, such as food insecu- and applying for leadership posi- rity or tobacco use, and connect tions (like her current role). patients with resources like the “I’ve seen that by me being here, Greater Chicago Food Depository I’ve opened the door to other people or a smoking cessation advocate, for that look like me—whether they’re example. women or people of color,” she says. s Illinois hotel owners start trade group—which represents we’re facing.” e center features a team-based “For my kids, I’ve also opened that Adown the long path of re- about a third of the state’s Pressing politicians for assis- approach where clinicians from door for them to see, ‘Your mom covery from the worst crisis any roughly 1,500 hotels—a seat at tance at a time when everybody neurology, physical therapy and can do this; you can, too.’ ” of them has ever faced, Michael the table with Illinois legisla- needs it, “we’ve got to focus on other specialties work together to Jacobson is their guide. tors, but also running a crucial what can actually be helpful and treat patients who have had a stroke. Stephanie Goldberg e head of the Illinois Hotel idea-sharing network for hote- what can actually advance and & Lodging Association helped liers to navigate the crisis, says be viable, or else you’re going to craft the statewide protocols Maverick Hotels & Restaurants be discredited pretty quickly.” Age: 36 for hotels to reopen amid the CEO Bob Habeeb, a longtime e Seton Hall Universi- COVID-19 pandemic and led Chicago hotel developer who ty grad and father of two—his Neurology the city of Chicago’s working served on the IHLA committee second was born in Septem- chair, Cook group that set new safety guide- that hired Jacobson in 2018. ber—says he’s gained valuable County Health lines for hotels and tourist at- “We’ve always been one of insight about the relationship tractions, bridging the gap be- the most respected hospitali- between local government and Medical tween hospitality stakeholders ty communities in the country the business community from director of and public health o cials to get because of our size, but I think his 67-year-old father, who has stroke hotel operators back on their he’s added to that stature,” Ha- owned Bob-O-Rino’s sub shop program, feet after months of decimated beeb says. in Portage Park for almost ve tourism. One of Jacobson’s proud- decades. Stroger It’s a role the Prospect Heights est accomplishments so far “Seeing his perspective on Hospital native was well-suited to play af- speaks to his diplomacy as ho- things as a small-business own- ter eight years at the U.S. Travel tel owners’ government liaison: er helped coach me over the Association, where he launched “Nobody knows what political years about what’s right and a political action committee that party I’m a part of,” he says, what’s wrong,” he says. “He’s lobbied national lawmakers on lamenting political division so a good source for getting a re- the economic importance of the severe “that it paralyzes us and al-world perspective.” hospitality industry. it’s not leading us to get solu- Now he’s not only giving his tions to the fundamental issues Danny Ecker
MIA SAINI DUCHNOWSKI Age: 37 ia Saini Duchnowski never mer Facebook manager, and the Business School, but dropped out Co-founder Msaw herself as an entrepre- following year co-founded Chica- when she got her break to be on and CEO neur, but she’s getting used to the go-based Oars + Alps, where Duch- Forbes TV in 2010 (she nished Oars + Alps idea now after selling her men’s nowski says she was the operations her MBA later). skin-care startup, Oars + Alps, to and product lead, while Cox was A year later, she left Forbes and consumer products giant SC John- the “marketing powerhouse.” Aside took a Bloomberg TV job in Hong son last year for $20 million. from skin care, they also created Kong. Her husband followed, but “You could even say I was turned men’s toiletries like deodorant. on returning to the U.S., it was her o by the idea of entrepreneur- Today, Duchnowski remains CEO, turn to follow him to Chicago after ship,” says Duchnowski, whose with Cox as the chief marketing of- a New York Bloomberg stint. “dream job” was being a TV anchor. cer, and they’re expanding their Now she sometimes nds her- She says Oars + Alps was born product line in a gender-neutral self fending o imposter syn- unexpectedly in a “bathroom way, Duchnowski says. drome leading Oars + Alps, she brawl” with her husband, who She double-majored in neuro- says. “I spend a lot of time sweat-
routinely stole her expensive skin- science and media studies at the ing the details, and I do think that BOEHM R. JOHN BY PHOTOS care products. “I told him to get his Massachusetts Institute of Tech- has made the company better,” own,” she says, but eventually she nology, but after graduation she says Duchnowski, a parent to four would make the bet pay o despite Duchnowski is paying it forward saw the dearth of products avail- took a left turn onto Wall Street kids under the age of 10. obstacles, such as in seeking in- now as an investor supporting able to him as an opportunity. as a nancial analyst at Gold- Ariel Knowles, a friend who in- vestors. “If anyone was not going women-owned startups. In 2015, she teamed up with her man Sachs. While she was there vested in Oars + Alps, convinced to turn back on hearing the word friend Laura Lisowski Cox, a for- she pursued an MBA at Harvard her husband that Duchnowski ‘no,’ it’s Mia,” Knowles says. Lynne Marek LAST CHANCE TO BE WHERE BUSINESS HAPPENS BE IN THE BOOK
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ACCOUNTING BUSINESS SERVICES / CONSTRUCTION FINANCIAL SERVICES LAW FIRM PHILANTHROPY
Grant Thornton LLP, Chicago 365 Equipment and Supply, FlowStone Partners, Chicago Saul Ewing Arnstein & Lehr, Hebrew Union College-Jewish Barrington Chicago Institute of Religion, Chicago Grant Thornton LLP Mark Phillip has has named Janet Bryan Olson is joined FlowStone Candice L. Kline Tal Rosen has been Malzone as its appointed Chief Partners as Managing joined Saul Ewing appointed Chicago- national managing Operating Offi cer of Director and will lead Arnstein & Lehr’s based Major Gifts partner of Audit 365 Equipment and the fi rm’s business Chicago offi ce as a Offi cer at Hebrew Services, effective Supply. Mr. Olson development and partner in the fi rm’s Union College-Jewish Aug. 1, 2021. In the is an accomplished investor relations Bankruptcy and Institute of Religion role, she will serve as a member business leader with efforts. Phillip has nearly two Restructuring Practice. (HUC), including of the fi rm’s Senior Leadership an extensive background in sales decades of experience in She represents debtors, Cleveland, St. Louis, Detroit, Team — overseeing the growth and operational excellence. commercializing and investing trustees, offi cial committees, Minneapolis, and Pittsburgh. and operations of the fi rm’s With 20 years of experience in in liquid and illiquid alternative investors and creditors in “I am delighted to be part of audit-services offerings, as well sales leadership and executive investment strategies. Prior to bankruptcy proceedings and a forward-thinking institution as its continued focus on audit management for Fortune 100 joining FlowStone, he was a out-of-court workouts. Her that fundamentally shapes quality. Malzone joined the fi rm companies, Olson adds a diverse Principal at MatlinPatterson, experience includes managing the Jewish future.” Previously in 2002 and has nearly 30 years perspective for the company. where he led capital raising cases from $10 million to $13 associated with the Spertus of public accounting and audit 365 Equipment & Supply is and product development billion, with key roles in large, Institute, KAM Isaiah Israel experience. Previously, she was known for outstanding customer initiatives across institutional and complex Chapter 11 and 7 Congregation, and Hillel at the Audit practice leader for the service and their ability to intermediary relationships. cases. She also handles Chapter Miami University, he holds an fi rm’s Midwest region. provide the supplies, materials 12 cases and has experience MBA and completed grad studies and equipment required to with cross-border insolvency at HUC. Contact: [email protected] ACCOUNTING / ADVISORY keep construction projects on Chapter 15 proceedings. schedule and on budget. Their MGO LLP, Chicago broad range of services and HEALTH CARE products, as well as aggressive MARKETING MGO LLP, one of pricing, make 365 Equipment ATI Physical Therapy, Chicago the fastest growing & Supply the ideal partner for a ATI Physical Therapy, closerlook, inc., Chicago CPA and Advisory successful construction project. one of the nation’s Services fi rms in the Biopharma digital- largest providers WEALTH MANAGEMENT US, announces Sarah marketing agency of physical therapy McGuire as a Director closerlook, inc., services, is pleased BNY Mellon Wealth Management and co-leader of its has announced the to announce the Chicago new Chicago offi ce and Midwest promotion of Amy appointment of expansion. Sarah leads the Wolgemuth Bordoni Brendan Gibney as Vice President Greg Teegen is a Chicago assurance and advisory to vice president, of Mergers & Acquisitions. Gibney Senior Client Strategist practice, specializing in fi nancial executive creative director. ENGINEERING / CONSTRUCTION will be responsible for managing for BNY Mellon Wealth audits, internal controls consulting This advances Bordoni to the and coordinating all aspects of Management. In this and fi nancial due diligence for D.H. Charles Engineering, closerlook executive team target identifi cation, pipeline role, he works with an array of industries including where she will help to shape Chicago management, deal negotiation, an integrated team cannabis, manufacturing, the agency’s growth and transaction execution and of advisors to create professional services and closely D.H. Charles culture. Bordoni has been at integration of acquisitions. Gibney tailored wealth management held businesses. Engineering, Inc. the agency since 2012, starting brings more than a decade’s solutions for individuals and proudly announces as a copywriter and working up worth of experience to ATI. families to meet their investment, ARCHITECTURE / DESIGN the opening of our through creative leadership. She trust & estate, wealth planning, newest offi ce serving is an award-winning creative philanthropic and private banking AECOM, Chicago the Chicago area with director who has received needs. Greg and his team take Andrew J. Schwarz, recognition on fi ve campaigns, a comprehensive approach with Premier infrastructure P.E., S.E. joining DHC as the including a best-in-show award. a long-term perspective to best consulting fi rm, Branch Manager. With over prepare clients for the future. AECOM, has appointed twenty years of experience in Jeannette Lenear the structural and geotechnical Peruchini, IIDA, LEED engineering discipline, including AP, as Managing construction engineering, bridge, Principal and Director utilities, and building design, WEALTH MANAGEMENT NON-PROFIT of Interiors for its Design and we’re excited for Andy to join Consulting Services group. The Chicago Trust Company, N.A. the DHC team and look forward Audubon Great Lakes, Peruchini has over 18 years of to him growing the Chicago Chicago experience in the architecture National Audubon Society, and Midwest operations while Chicago and design industry, securing assisting the company nationwide. Jamie Holmes joins and managing complex projects The Chicago Trust around the world. In her new The National Audubon Company, N.A. as role, Peruchini will be responsible Society, a nonprofi t Senior Vice President, for the overall leadership of conservation Trust Offi cer and AECOM’s Building + Places organization that Team Lead for the group and management of the protects birds and South/West Region. FINANCIAL SERVICES Interiors team in Chicago. the places they Jamie is responsible for business need, announced Parker development, expanding referral Cresset Partners, Chicago LAW FIRM AUTOMOTIVE Michelle Parker as networks, and further educating Vice President and internal and external clients Cresset Partners is Kupiec & Martin, LLC, Chicago Executive Director, Toyota Motor North America pleased to welcome and prospects. She brings over (TMNA), Chicago Audubon Great Lakes 20 years of trust, fi duciary, and Dominic DeRose, who Kupiec & Martin, LLC and Nicole Minadeo is joining as Director is pleased to welcome leadership experience, having Toyota Motor North as Communications of Investments. In Michael A. Lovett most recently been employed as America recently Director, Audubon his role, DeRose will as Of Counsel. Mike a Senior Trust Offi cer and Team named Wylon Harper Great Lakes. Parker focus on the fi rm’s has over 35 years of Minadeo Lead with Fifth Third Private Bank. the general manager oversees staff in IL, vast real estate portfolio with an state and local tax of Toyota’s Chicago IN, MI, Ohio, and WI, emphasis on Cresset Diversifi ed experience assisting all sales region. The leading fi eld offi ces and directing Real Estate’s qualifi ed opportunity types of taxpayers. He has over Chicago sales region on-the-ground conservation, zone efforts, as well as other real 20 years of Big-4 Accounting encompasses sales and service policy, and education efforts. She estate funds focused on various Firm experience. Prior to his operations in Illinois, Indiana, spent nearly two decades as a strategies, including industrial public accounting career, he was Minnesota and Wisconsin. Harper conservation leader and most development and distressed State Tax Counsel for a Fortune has been employed at Toyota recently led the environmental investments. Prior to joining 100 Company. Kupiec & Martin since 1993. During the course of and disaster response programs Cresset, DeRose was a senior is a nationally recognized state his career, he has held numerous with the Crown Family associate in Colliers International’s and local tax law fi rm. Mike will positions within a variety Philanthropies. industrial advisory group. provide a full spectrum of state Minadeo, former Sr Communication of Toyota and Lexus offi ces To order frames or plaques and local tax services to Kupiec Director at Shedd Aquarium, plays throughout the U.S. Harper of profi les contact & Martin’s diverse client base. a key role in raising awareness for most recently served as general Lauren Melesio at conservation priorities, leading manager of the Lexus Central [email protected] or integrated strategic communications. Area in suburban Chicago. 212-210-0707 CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 39
VETERAN EXECUTIVES These 40 veterans returned from Many are involved in their compa- service and are making a mark in ny’s resource groups for veterans and law, banking, real estate, investment mentor colleagues who are making management and logistics. Others the transition to civilian careers. A found their way into education and good number are active in commu- government. Some have started ven- nity organizations that support veter- tures and others have dedicated their ans, including Code Platoon, Bunker careers to providing social services to Labs, Leave No Veteran Behind, the fellow veterans. Road Home Program and the Veter- During the pandemic, these ex- ans Working Group of the Commer- ecutives have stepped up, whether cial Club of Chicago. Having served aiding employees in a transition to the country, they’re now making an work from home or helping clients or impact in civilian life. fellow veterans navigate the challeng- es of the new terrain. By Judith Crown
METHODOLOGY: The veteran executives featured did not pay to be included. Their profiles were drawn from nomination materials submitted. This list is not comprehensive. It includes only veterans for whom nominations were submitted and accepted after an editorial review. To qualify for the list, the executives must be serving in a senior-level role and have made contributions to advancing the issues that affect veterans in the workplace or in the Chicago area.
Rush University System for Health proudly salutes William Beiersdorf Executive Director of the Road Home Program: The National Center of Excellence for Veterans and their Families at Rush
on being named a Notable Veteran Executive by Crain’s Chicago Business. 40 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
TIMOTHY J. ADKINS WILLIAM BEIERSDORF ERIN BELKNAP SHARE OF EMPLOYED BY INDUSTRIAL SECTOR, 2018 President Executive director, Road Home Head of security and emergency Veterans Nonveterans Command Mechanical Group Program preparedness Rush University Medical Center Sterling Bay Manufacturing 11.7% Timothy Adkins heads the 9.7% veteran- and minority-certi ed Veterans and their families At developer Sterling Bay, Erin Professional and business services 11.4% contractor that specializes in get help readjusting to civilian Belknap is responsible for securi- 10.6% pipe tting for the construction life, thanks to the Road Home ty and emergency preparedness market. e Program at operations Federal government 10.0% company was Rush Univer- and protocol, 2.0% launched in sity Medical coordinating Retail trade 8.4% 2016 and has Center. It was with property 10.1% grown to rev- launched managers, Education and health services 8.4% enue of more by William engineers, local 15.6% than $15 mil- Beiersdorf, rst respond- 7.3% Transportation and utilities lion with a sta who served in ers and other 4.2% of more than two branches stakeholders. 7.0% 20. Adkins’ of the military She led Sterling Local government goal is to employ more veterans and in two armed con icts. e Bay’s COVID-19 task force to 6.6% 6.4% in the construction industry. In program, which was started in protect building occupants and Construction the past 18 months, Command 2013, o ers counseling to veter- employees. Earlier, she coordi- 5.9% Mechanical helped employ 13 ans su ering from PTSD. It has nated with the Chicago Oce of 6.0% Self-employed veterans. He works with the served as a model for hospitals Emergency Management, tying 5.8% Pipe tters Local 597 program for in other cities. Beiersdorf and his perimeter cameras into city and 4.7% State government veterans and hires veterans for wife also started Salute, a mili- police camera fusion centers 4.6% administrative jobs so they can tary charity that assists military for live monitoring. Belknap is a 4.3% learn about the trade. Com- members and families during veteran of the Marine Corps and Financial activities 6.4% mand Mechanical is part of a and after deployment, including served as special security oce 4.0% venture working on the O’Hare providing resources for injured chief in Iraq with responsibil- Leisure and hospitality International Airport Terminal and nancially unstable families. ity for managing physical and 8.2% 5 expansion. Adkins served for Beiersdorf served in the Illinois personnel security at top-secret 4.0% Other services 16 years in the Army and was a National Guard and participat- facilities. She is chair of the Build- 4.8% sta sergeant and Army Ranger. ed in Operation Desert Storm. ing Owners & Managers Associ- 2.6% Wholesale trade He is a veteran of the Iraq and Later, he was a master-at-arms ation emergency preparedness 2.3% Afghanistan con icts. in the U.S. Naval Reserve and committee. Between 2010 and 2.0% served 11 months at Guantana- 2019, she was a member of the Information 1.7% mo Bay after the 2001 terrorist military liaison council for securi- 1.8% attacks. ty association ASIS and mentored Agriculture 1.5% military personnel transitioning Source: Pew Research Center to careers in civilian security.
OUR TEAM PROUDLY INCLUDES CHICAGO’S VERY BEST
When you run a business, your success is closely tied to your people. And, we’ve been lucky enough to call some of the very best part of the Wintrust family. Our employees are passionate, talented, and driven professionals. Leaders like Tony Buttrick, executive vice president and chief information officer, help keep us strong by offering expertise, guidance, knowledge, and dedication in everything they do. Congratulations, Tony, for your recognition as one of Crain’s 2020 Notable Veteran Executives. We’re grateful to you, and all veterans, for selflessly serving our country.
Congratulations on being one of Crain’s 2020 Notable Veteran Executives.
TONY BUTTRICK Executive Vice President, Chief Information Officer Wintrust Financial Corporation wintrust.com THANK YOU FOR YOUR SERVICE
This Veterans Day, Loyola Medicine extends its unwavering support and heartfelt gratitude to the servicemen and women throughout our country. As our nation comes together to serve and heal one another during these unimaginable times, we are reminded ďåĴìÐĮÆīðťÆÐșÌÐÌðÆĴðďĊĊÌĮÐăŦÐĮĮĊÐĮĮ that you demonstrate every single day. As a health care system, we are proud to work alongside veterans at all levels of our organization who infuse compassionate discipline into every facet of our care. On this day and all others, we are grateful for the triumph and strength of the human spirit that lives within our community. d. d ve r er e s es e re r ts t hts ghts l ri . Al n cine cin di Med Me ola ol
WE ALSO TREAT THE HUMAN SPIRIT® y Loy Lo L 0 20 020 2020 202 © t © gh igh ig righ ri p opy Copy Co C
20cb0561.pdf RunDate 11/9/20 FULL PAGE Color: 4/C 42 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
TRAVIS BLOOMFIELD ANDRE BONAKDAR TONY BUTTRICK BRIAN CAPUTO LINDA CHAPA LAVIA Founding partner and CEO Corporate and commercial credit Executive vice president, chief President Director Provisio Partners executive information officer College of DuPage Illinois Department of Veterans’ BMO Harris Bank Wintrust Financial Affairs Travis Bloom eld leads the At College of DuPage in Glen young company that o ers As a corporate and commercial As CIO, Tony Buttrick transi- Ellyn, Brian Caputo has led Linda Chapa LaVia leads the a Salesforce-based human credit executive, Andre Bonak- tioned more than 5,000 employ- the Project Hire-Ed workforce department serving 650,000 services platform for public dar manages nine senior credit ees to remote work at the onset development program that veterans in Illinois. She manages and nonpro t o cers. During of COVID-19. Working remotely, provides students with job skills a budget of $150 million and is organizations. the past 18 Buttrick’s team and connects responsible Launched in months, he developed and them with for more than 2017, Provisio served on the deployed a employers. 1,200 employ- has worked commercial customer ap- e program ees. She is the with more than risk committee plication site in o ers training rst Latina 50 human ser- tasked with less than seven in machining, director of the vices organiza- improving days in support welding and department. tions, including operational of the Paycheck other industri- Before being Endeavors and organiza- Protection al processes. named director and Asian Human Services. In tional e ectiveness. Bonakdar Program, Caputo joined last year, LaVia partnership with the state of has worked with the senior accelerating loans to businesses the college in 2017 as vice pres- was a state representative from Illinois, Provisio launched the leadership team at BMO to in need. Before joining Rose- ident for administrative a airs Aurora for 16 years and chaired Coronavirus.Illinois.gov website hire more veterans. And he’s mont-based Wintrust in 2018, and chief nancial o cer and the House Veterans’ A airs com- to provide critical information coordinated with the Veter- Buttrick was executive vice pres- was named president last year. mittee. Legislative accomplish- for residents. e company also ans Advisory Council, a BMO ident and CIO at Flagstar Bank He has helped stabilize nances ments include assisting in the implemented the state’s rst vet- employee resource group that in Troy, Mich. Buttrick spent 23 and develop longer-term initia- creation of the Vet-Cash lottery erans Legal Aid hotline. Provisio supports the development and years with the Navy and served tives. rough his work with the ticket that raised $14 million for was an initial sponsor of Vet- promotion of veterans. He also 16 years on active duty in special Innovation DuPage incubator, veterans organizations, creat- force, the Salesforce job training informally mentors and supports operations and intelligence Caputo helps veterans and other ing the Illinois Task Force on and career accelerator for mili- fellow veterans at the bank. As assignments. He worked at the community members achieve Veterans’ Suicide and expanding tary service members, veterans a surface warfare o cer in the O ce of Naval Intelligence in entrepreneurship goals. Before opportunities for veteran-owned and spouses, and has mentored Navy, Bonakdar managed 54 Washington, D.C., where he led joining the college, Caputo was small businesses. Chapa LaVia and recruited participants of people and a $1.6 million budget the Imaging Services division. CFO and treasurer at the city participated in the Army ROTC the program. Bloom eld served during an integrated training Buttrick is a mentor to veterans of Aurora. He is a retired Army program at the University of in the Air Force and was an air schedule before a Persian Gulf in transition to civilian life and lieutenant colonel who served in Illinois at Chicago. After grad- tra c controller. He volun- deployment and during Opera- helps them with résumé writing human resources and comptrol- uation, she continued to serve teered as part of a mobility unit tion Iraqi Freedom. He also was and interview skills. lership positions between 1982 in the Illinois Army National designated for tactical air eld an assistant professor of naval and 1988 and served in the Army Guard, where she rose to the movement and trained other Air science for University of Notre Reserve through 2004. rank of rst lieutenant. Force combat controllers. Dame ROTC.
AAR is congratulating Nicholas Gross, SVP Integrated Solutions, for being recognized as a Notable Veteran Executive.
We are proud to have Nick on our team. He leads AAR to new levels of achievement across a broad portfolio of QRGTCVKQPU PGYOCTMGVITQYVJƂPCPEKCN stabilization, capability development and expansion for AAR.
Thank you from the whole AAR team!
+1.630.227.2000 | aarcorp.com CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 43
TYE CLARK MIKE CRANE FRANK DEL BARTO Business continuity management Senior vice president, construction Partner PERCENTAGE OF EMPLOYED VETERANS AND NONVETERANS director NewGround Masuda Funai Eifert & Mitchell BY OCCUPATION AND GENDER, 2018 ANNUAL AVERAGES William Blair Management, professional and related occupations Mike Crane this month is set to Frank Del Barto is chair of the Service occupations In recent months, Tye Clark has join architecture and planning law rm’s employment, labor Sales and office occupations been involved in decision-mak- rm NewGround, where he will and bene ts practice. He has Natural resources, construction and maintenance occupations ing for the rm’s COVID-19 re- manage the company’s expand- represented clients in em- Production, transportation and material-moving occupations sponse, including development ing project management and ployment matters before the of processes delivery team. U.S. Equal 100% to sustain Crane worked Employment critical trading at JLL for Opportunity capabilities. more than 12 Commission As co-chair of years and was and the Illinois Blair’s veter- most recently Department of 80 ans’ business senior director Employment resource group, of business Security. In pro Clark engages operations. In bono work, he with the HR this position assists veterans 60 37.7% 36.8% team to enhance bene ts for vet- he oversaw facility management, and their dependents in ap- 39.1% 40.6% eran employees. He works with construction and renovation pealing disability compensation 44.4% recruiters in reviewing résumés for a client’s 6 million square claim denials by the Department 13.4% 49.6% of veteran candidates. Most re- feet of space in North America. of Veterans A airs. He has suc- 40 14.2% 14.1% cently, he worked on the Guard Crane was a founding member cessfully appealed a VA disability 17.1% and reservist transition program, of JLL business resource group compensation claim for a World aimed at Blair veteran employ- VetNet and recruited veterans War II veteran and several VA 15.4% 20.8% ees recalled to active duty. Clark to the company, providing them claims for Vietnam veterans. A 15.0% 15.7% initiated Blair’s partnership with post-military careers and graduate of the Army’s Airborne 20 16.5% with the Road Home Program at mentorship. He advocated with and Ranger schools, Del Barto Rush University Medical Center. hiring managers on the bene- was a captain who served as a 21.7% And he worked with nonprof- ts of employing veterans and tank platoon leader in a cavalry 15.4% 16.8% 13.7% 28.1% 27.8% it Bunker Labs on initiatives coached veterans on advancing troop, as an executive o cer and 10 9.1% helping veteran entrepreneurs their careers. Crane was an Army as an assistant brigade opera- with business planning. Clark captain, having served on active tions o cer while on active duty. 1.3% 1.0% spent 20 years in the Navy, with duty as a military intelligence He was a company commander 16.4% 11.7% 17.9% 17.2% 5.6% 5.9% nine years of active duty. He was o cer with deployments to in the reserves. 0 an information warfare chief Kosovo and Afghanistan. Total Total Male Male Female Female warrant o cer and participated veterans nonveterans veterans nonveterans veterans nonveterans in three sea deployments. Source: Bureau of Labor Statistics
Saluting two leaders. You honored us, now it’s our duty to honor you.
Juanita Hardin Andre Bonakdar Head, Risk and Compliance: Managing Director Treasury & Payment Solutions BMO Harris Bank
Thank you, Juanita Hardin and Andre Bonakdar, for protecting our nation, defending our freedoms and for Bolding Growing the Good in our communities.
We have immense gratitude to you, and to all Veterans, for their service to our country, on Veterans Day and always.
BMO Harris Bank N.A. Member FDIC 44 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
EDWARD DONOVAN DENNIS FRANTSVE Executive vice president, general Alternative investments specialist VETERANS IN ILLINOIS counsel and secretary Merrill Lynch BY AGE GROUP TerSera Therapeutics 93,519 Dennis Frantsve is a regional 100,000 At the Deer eld-based specialty sales manager who sells hedge 80,000 therapeutics company, Edward fund, private-equity and real es- 66,034 59,082 Donovan leads legal, compli- tate products internally to Mer- 60,000 51,884 55,962 52,847 53,216 ance, regulatory and quality rill Lynch nancial advisers and 43,226 40,363 assurance their clients 40,000 33,295 31,326 27,630 functions. in the Mid- 19,289 Founded in west. He sells 20,000 8,730 2016, Ter- from a roster 363 0 Sera focuses of approved Under 20 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-96 70-74 75-79 80-84 85+ on oncology investment and non-opi- products and oid pain. In has averaged BY PERIOD OF SERVICE BY RACE/ETHNICITY the past 18 15 percent 225,000 600,000 months, Dono- annual growth 212,533 212,414 van has led two product acqui- in asset-raising over the last four 200,000 525,675 sitions and integrations valued years. He is former chair of the 500,000 at more than $225 million. Chicago chapter of the bank’s 175,000 is year, he transitioned the Military Support & Assistance 155,364 company’s sta to remote work. Group, which supports reserv- 150,000 400,000 Donovan serves as board chair ists, veterans and their families. for Code Platoon, a nonpro t As a Marine Corps lieutenant 125,000 that provides technical training colonel reserve o cer, he 300,000 and job placement for veterans took a year’s leave in 2011 to 100,000 and military spouses. Gradu- join the Black Sea Rotational ates are quali ed to be hired as Force, where he coordinated air 75,000 200,000 junior full-stack web developers. support. Earlier, he served as an 48,245 Donovan coaches students in assault helicopter pilot and led 50,000 transition to a civilian career and combat missions in Afghanistan. 86,697 19,866 100,000 also is helping the organization He later headed o cer recruit- 25,000 34,500 establish its alumni association. ing in the Chicago area. 197 6,914 7,983 9,497 He was an Army captain who led 0 0 elite artillery units in deploy- Peacetime WWII Korean Vietnam Gulf War Pre-WWII White Black Asian Other Two or Hispanic conflict era era more or Latino ments to Egypt and Kuwait in 1997 and 1998. Source: U.S. Department of Veterans Affairs
Congratulations, Doug Zuvich
for being recognized as one of Crain’s 2020 Notable Veteran Executives.
Your exemplary knowledge, dedication, and care for others has made an enormous impact on your colleagues, clients and KPMG. Thank you for your contributions to our community and your support for Veterans and their families.
Learn more about our solutions and career opportunities at kpmg.com.
© 2020 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. NDP127400 There’s no limit to what care can do
At UnitedHealthcare, we’re united in our mission to connect the world to better health, one person at a time — a mission made all the more imperative as we face extraordinary times in health care.
Extraordinary times demand exceptional leaders. That’s why we’re honored to congratulate our own Tom Wiffler, CEO of UnitedHealthcare Specialty Benefits, on his inclusion in Crain’s 2020 Notable Veteran Executives list. In his military service and role at UnitedHealthcare supporting the health, well-being and advancement of other veterans, Tom exemplifies the very best of what care can do.
UHC.com
EI20382405.0 10/20 © 2020 United HealthCare Services, Inc. All Rights Reserved. 20-382406
20cb0301.pdf RunDate 6/29/20 FULL PAGE Color: 4/C 46 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
RODRIGO GARCIA BRIAN GILLIGAN MICHAEL GILMARTIN NICHOLAS GROSS DAVID HANKINS Deputy state treasurer and chief Professor and department Director, housing investments Senior vice president, integrated Human resources director investment officer chairperson Nuveen Real Estate solutions Anacostia Rail Holdings State of Illinois Morton College AAR At Nuveen Real Estate, Michael David Hankins directs HR As deputy state treasurer, Rodri- At the two-year college in Cicero, Gilmartin manages the acquisi- At AAR in Wood Dale, Nicholas functions at the operator of go Garcia directs the treasury’s Brian Gilligan teaches account- tion and disposition of housing Gross oversees aviation sup- short-line railroads. During the $35 billion investment portfolio ing, nance and business cours- assets in central and southeast- ply chain, maintenance and early months of the pandemic, and $300 billion in banking es. He has served on committees ern states. He recently structured contractor logistics support for Hankins oversaw donations from operations to broaden and closed government the corporate and nancial course o er- eight invest- agencies and o ce and services. He ings and add ments totaling commercial regional rail- was named to programs. He $500 million, customers. roads of more his position in also advocated nanced in He’s driven than $24,000. 2018, having for heightened part with double-digit Hankins served as chief standards tax-exempt year-over-year advocates for investment for online bond nanc- sales growth in hiring veterans: o cer since course deliv- ing. Gilmartin his government Anacostia and 2015. Garcia ery. Gilligan serves as Chi- operations subsidiaries spearheaded the inclusion of started a local chapter of Student cago co-chair for Nuveen’s Our portfolio, winning multiple mul- have hired more than 40 since veteran-serving investment Veterans of America to support Corps business resource group, tiyear U.S. government contracts 2016, about a quarter of all new rms and has $150 million in students who served or are dedicated to helping attract and in aviation maintenance, ight hires. Overall, about 15 per- assets managed or supported serving in the military. He also advance veterans at Nuveen and operations and supply chain cent of employees are veterans. by rms whose mission is to provided formal and informal parent company TIAA. He also services. Gross was a founding Hankins oversees corporate support post-9/11 and disabled mentoring to student veterans. advises nonpro t Wear Blue: executive sponsor of the veter- policies that ensure active re- veterans. Before joining the He has written recommenda- Run to Remember, which orga- ans employee resource group. servists can ful ll their company treasurer’s o ce, Garcia was tion letters for student veterans nizes running communities that He spearheaded initiatives on and service commitments. He director of the Illinois Depart- seeking jobs and also for student support the military and their hiring, training and equipping a developed a network of veteran ment of Veterans’ A airs and an veterans applying for admission families. Gilmartin served as an veteran workforce. He supported contacts at employment o ces Illinois Cabinet member. Garcia and scholarships at four-year infantry captain in the Army. He hiring campaigns resulting in his in the communities served by is a founding member of Student institutions. Gillian joined the managed a team of nine senior business unit being 38 percent Anacostia railroads. Hankins Veterans of America and was Navy Reserve in 1991 and was noncommissioned o cers that veterans. Gross is an Air Force was a Marine Corps captain, chair between 2010 and 2017. He a training o cer and division trained mobilizing units in Iraq veteran who served four years on serving as a logistics o cer, with served in the Marine Corps and chief at Fort Sheridan. He was and Afghanistan. Gilmartin active duty in the Civil Engineer- stints as combat cargo o cer on was deployed to Operations Iraqi deployed to Afghanistan in 2013. joined TIAA in 2015 from Draper ing Squadron. He deployed on the USS Charleston, followed Freedom and Enduring Freedom He currently serves as senior & Kramer, where he helped lead multiple global assignments, in- by managing a weapons and in Afghanistan between 2001 assessor for Commander, Navy the multifamily acquisitions cluding in support of the NATO equipment maintenance facility and 2006. Information Force Reserve. group. campaign to halt the violence in California. against the Kosovo Albanian population.
Congratulations to our partner, Conrad C. Nowak, on his selection as one of Crain’s 2020 Notable Veteran Executives!
Proud to say you are among our ranks!
©2020 Hinshaw & Culbertson LLP | Attorney Advertising CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 47
JUANITA HARDIN JIM HOLMES Head, risk and compliance, North Division performance executive, VETERANS IN ILLINOIS American Treasury & Payments Financial Advisor Development STATES WITH THE MOST VETERANS Solutions Program California 1,752,454 BMO Harris Bank Bank of America/Merrill Lynch Texas 1,596,427 At BMO Harris, Juanita Hardin Jim Holmes trains the next gener- leads operational risk activities ation of Merrill Lynch advisers in Florida 1,569,667 for treasury and payments in the the Midwest Financial Develop- Pennsylvania 836,367 U.S. and Cana- ment Program, New York 790,058 da. She ensures which encom- internal con- passes 20 mar- Ohio 774,847 trols mitigate kets. He leads Virginia 738,635 risk and devel- a team respon- North Carolina 718,481 ops governance sible for hiring strategies. and training Georgia 709,619 During the past 600 associate Illinois 636,766 18 months, nancial advis- Hardin was ers through a elected a trustee of the village 43-month curriculum. Holmes is EXPECTED VETERAN POPULATION BY COUNTY of Matteson. During the pan- active in the bank’s Military Sup- Cook DuPage Kane Lake McHenry Will demic, she has helped distribute port & Assistance Group, which personal protective equipment to supports military employees and 350,000 residents. Hardin is chair of BMO their families. He has assisted Harris’ Veterans Advisory Council with the onboarding of newly 300,000 and helped create a mentorship hired veterans and reservists and program with a buddy system has provided coaching, mentor- 250,000 that pairs new hires with veteran ing and support. Holmes also is a colleagues. She represents BMO member of the Veterans Working 200,000 Harris on the Veterans Working Group of the Commercial Club Group of the Commercial Club of of Chicago, which helps employ- 150,000 Chicago, which supports employ- ers implement best practices ers who implement best prac- in veteran recruitment, hiring 100,000 tices in recruitment, hiring and and retention. Holmes was an retention. She was an Air Force Army National Guard infantry 50,000 sergeant who served as a systems squad leader. Initially assigned 0 specialist in logistics. Some of as a TOW gunner, he became re ‘20 ‘21 ‘22 ‘23 ‘24 ‘25 ‘26 ‘27 ‘28 ‘29 ‘30 ‘31 ‘32 ‘33 ‘34 ‘35 ‘36 ‘37 ‘38 ‘39 ‘40 ‘41 ‘42 ‘43 ‘44 ‘45 ‘46 ‘47 ‘48 her duties entailed installing and team leader in a scout platoon Source: U.S. Department of Veterans Affairs maintaining computer software. that performed long-range recon- naissance surveillance patrols.
100%
College of80 DuPage salutes our President, Dr. Brian Caputo, a Crain’s Notable Veteran Executive, and all veteran students, sta and faculty for their commitment to our country, our colleg60e and our community.37.7% 36.8% 39.1% 40.6% 44.4% 13.4% 49.6% 40 14.2% 14.1% 17.1%
15.4% 20.8% 15.0% 15.7% TH20 16.5%ANK YOU
21.7% 15.4% 16.8% for13.7% your se28.1%rv27.8%ice 10 9.1% 1.3% 1.0% “The16.4% suprem 11.7%e 17.9% qual 17.2%ity for 5.6% leadersh 5.9% ip 0 Total Total Male Male Female Female is unveteransquesnonveteranstionveteransablynonveterans integrveteransity. nonveteransWithout it, no real success is possible, no matter whether it is on a section gang, a football eld, in an army, or in an o ce.” —General Dwight D. Eisenhower
Dr. Brian Caputo College of DuPage President 48 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
IAN HOLZHAUER GARY HOOD KEVIN JOHNSON AIDA JOHNSON RAPP IGGY KHAN Partner Shareholder President Director of group exercise Managing director, Chase Nagle Obarski & Holzhauer Polsinelli GlidePath Federal Solutions East Bank Club Merchant Services JPMorgan Chase At the Naperville law rm, Ian Attorney Gary Hood chairs the Kevin Johnson leads corpo- At the East Bank Club, Aida Holzhauer handles corporate intellectual property litigation rate development activities at Johnson-Rapp oversees the Iggy Khan is responsible for the transactions, including mergers division and recently was named Elmhurst-based GlidePath, an group exercise program, in- ongoing integration and stream- and acquisitions, corporate gov- vice chair of the cross-depart- energy storage developer and cluding sta recruiting, training lining of credit card processing. ernance and business succes- ment litigation department. He independent power producer. and scheduling. During the Merchant clients previously had sion planning. has specialized He serves as pandemic, she one login for He also is in litigating president of has facilitated processing chair of the pharmaceuti- GlidePath virtual pro- credit card 1,100-member cal patent cases Federal Solu- gramming with transactions Naperville Area and also han- tions, focusing livestreaming. and another Chamber of dles a range on providing Earlier, she for the Chase Commerce. of IP and civil government created the accounts. Early in the matters. Hood agencies with design and was Now they see pandemic, was a Navy distributed project manag- transactions on Holzhauer lieutenant power sys- er for renova- a single portal. joined with chamber sta to and surface warfare o cer who tems. Johnson also co-founded tion of the club’s 70-bike indoor A lieutenant commander and launch a food drive, in which served aboard the USS Rentz CleanCapital, an investment facility. Johnson-Rapp was an Naval ight o cer, Khan ew residents donated $75,000 to from 1990 to 1993. He concluded platform in clean energy. John- Army specialist who served as a combat missions over Bosnia member restaurants for them his service as a reserve Naval son was an Army captain who personnel information manage- and Iraq. He holds more than to deliver boxed meals to rst o cer. Hood assists veterans in was deployed to Iraq in 2004 ment specialist in the Adjutant 1,000 hours as mission com- responders. Working with securing VA bene ts and nav- and 2005. He planned and led General’s Corps and had Army mander and more than 400 local advocates, he oversaw the igating employment concerns. missions to remove and destroy master tness trainer certi - aircraft carrier landings. Khan launch of the chamber’s rst He mentors former Navy col- captured enemy ammunition. cation. She also served in the serves on the executive board of diversity, equity and inclusion leagues transitioning to civilian His last role in Army service was Illinois Army National Guard nonpro t Code Platoon, which and corporate social responsi- life, as well as young people con- as an admissions o cer at West Reserve. Johnson-Rapp is a provides technical training and bility committees. Holzhauer is sidering military careers. He has Point, where he reached out to volunteer leader at Bunker Labs, job placement for veterans and pro bono in-house counsel and hired veterans who are contrib- African American and Hispanic a nonpro t that helps veterans military spouses. is year, he a board member for Naper- utors on his legal teams. Hood communities. Johnson helped and military spouses start busi- facilitated a partnership between ville Responds for Veterans, a joined Polsinelli in 2011 from IP lead veteran and military family nesses. Before joining East Bank JPMorgan Chase and Code Pla- nonpro t that provides home boutique McDonnell Boehnen engagement for Pete Buttigieg’s Club in 2013, Johnson-Rapp toon, which already has placed repairs to low-income veterans. Hulbert & Bergho . He speaks Democratic primary campaign. held positions at tness clubs several graduates into full-time He served as uniformed attorney on IP issues at conferences and He is on the boards of the Ameri- and facilities including Equinox. jobs. Khan mentors new hires in the Air Force Judge Advocate seminars. can Resilience Project and Clean Earlier, she served as event coor- who join the bank through General’s Corps from 2007 to Energy Leadership Institute. dinator for the Mayor’s O ce of Chase programs for recruiting 2014. Special Events. veterans.
Service. Respect. Leadership.
Matt Petrucci, we’re so proud that you’ve been named a notable veteran executive.
We appreciate your contributions to our staff, our firm, and our country.
plantemoran.com | Make the mark. CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 49
DANIEL LITTMANN CONRAD NOWAK Principal, technology, media and Partner, litigation UNEMPLOYMENT RATES, AUGUST 2019 Veterans Nonveterans telecommunications Hinshaw & Culbertson Deloitte Consulting Total 3.5% Attorney Conrad Nowak rep- 3.7% Telecom consultant Daniel resents clients in litigation in- Littmann advises wireless and volving labor and employment, Ages 18-24 2.6% wireline carriers and technology product liability, white-collar 8.0% companies. He’s advised senior criminal matters, federal inves- Ages 25-34 2.9% U.S. govern- tigations and 3.8% ment o cials congressional 4.8% Ages 35-44 on 5G technol- inquiries. 2.7% ogy strategy When the 4.5% Ages 45-54 and its impact pandemic 2.9% on national closed courts security. He and law o ces, 2.7% Ages 55-64 2.6% developed and Nowak was 2.5% implemented among early 65 and older a 5G small cell adopters of 3.2% tool to enhance collaboration technology necessary to contin- among municipalities and wire- ue with depositions and other less carriers. Littmann served as proceedings. Recognized as a SHARE OF EMPLOYED VETERANS AND NONVETERANS BY OCCUPATIONAL GROUP, 2018 an intelligence o cer in the Air leader in virtual law practice, he Veterans Nonveterans Force and contributed to military has presented webinars to law- Professional and related 20.6% and humanitarian operations in yers, government agencies and 23.9% the Middle East, Africa and South members of the judiciary. He Management, business and 18.6% America. For the past three served as an Army sergeant and financial operations 16.7% years, Littmann has led Deloitte’s assumed a military intelligence Chicago Armed Forces business role with a special operations Service 14.2% resource group. Littmann and team with a focus on Russia 17.1% 9.8% his team have organized volun- as well as Eastern and Central Transportation and material moving teer events at Jessie Brown VA Europe. As co-chair of Hinshaw’s 6.2% Hospital and held panel discus- veterans employee resource 8.4% Sales and related sions for the Deloitte Chicago group, Nowak mentors veterans 10.1% o ce highlighting veteran issues at the rm. He also was volun- 8.1% and accomplishments. ey also teer coach of a mock trial team Office and administrative support 11.6% established a support infra- at the Chicago Public Schools’ structure for veteran employees Marine Leadership Academy. 6.1% Construction and extraction 5.3% making the transition from the Source: Pew Research Center military.
CONGRATULATIONS Col. Pritzker for being chosen a Crain’s Notable Veteran Executive!
Thank you for your service and for providing great leadership to all of us at TAWANI Enterprises.
TAWANIENTERPRISES.COM 50 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
STEPHEN OLDS MATTHEW PETRUCCI JENNIFER PRITZKER DAN REILLY DARRYL RODGERS CEO Lead partner, transaction advisory President and CEO Corporate vice president, products Vice president, financial adviser Exegistics services Tawani Enterprises and sales finance Bernstein Private Wealth Plante Moran Motorola Solutions Management In 2008, at the height of the Retired Lt. Col. Jennifer Pritzker recession, Stephen Olds found- At the accounting rm, Matthew oversees a portfolio that includes At Motorola Solutions, Dan Darryl Rodgers advises corpo- ed the third-party logistics and Petrucci leads due diligence property management and de- Reilly leads a segment that rep- rate executives, de ned contri- supply chain company. Exeg- and quality-of-earnings proj- velopment, the Pritzker Military resents 68 percent of the rm’s bution plan sponsors and com- istics has operated during the ects for private-equity funds, Foundation and the Pritzker Mil- net revenue. He leads regional pany founders on investment pandemic and their portfolio itary Museum nance teams management helped clients companies and & Library. e supporting and wealth develop plans middle-market Tawani Foun- global sales planning. He’s to return to companies dation sup- with forecast- a member of business as looking to ex- ports organiza- ing, contracts the Chicago usual. e pand through tions involved and pricing. Community company acquisitions in military Reilly also Trust’s African creates op- or sell their awareness and leads nance American Leg- portunities for businesses. heritage, as teams support- acy initiative veterans, help- He oversees well as LGBTQ ing the video to improve ing them transfer military skills a global sta of more than 500. and human rights. During the security and analytics business the quality of life for Black and experience into civilian job During the pandemic, Petrucci pandemic, the foundation has and the products R&D organi- people in the Chicago area. In responsibilities. Olds served has overseen the deployment of donated $1.8 million for Illinois zation. In 2016, Reilly initiated May, Rodgers created a Bern- as a Marine Corps captain; his internal tools and increased the relief e orts. Tawani’s property a partnership with the Army’s stein-sponsored virtual fund- roles included operations and use of cross-geographical teams, development arm is developing Training With Industry program, raising event that increased the plans o cer supporting 14,000 resulting in better use of sta an archival center in Wisconsin which provides selected o cers program’s COVID response grant Marines and the Naval Security while also providing employees to support the military museum with exposure to managerial by 30 percent. Rodgers was an Group. After his service, Olds needed time away from work. and library and help families techniques and industrial proce- Army captain who supervised held supply chain consulting Petrucci was a damage con- preserve their legacies and dures. Reilly serves as a member and coordinated training and positions at rms including Booz trolman in the Navy and was stories. Pritzker served in the and adviser to the company’s deployment of 55 soldiers and Allen and Ernst & Young. He assigned to the USS America Army, the Army Reserve and the Veterans Business Council, noncommissioned o cers. spearheads an annual veteran as a shipboard re ghter. He is Illinois Army National Guard for which leads in recruiting and Rodgers is chair of nonpro t careers summit to help compa- the partner sponsor for Plante 27 years and was promoted to mentoring veterans at Motorola. Leave No Veteran Behind, which nies develop a veterans work- Moran’s veterans sta resource honorary colonel in the National Reilly was an Army captain who provides training, transitional place initiative. He published group. Revenues for the transac- Guard when she retired. She was deployed to Afghanistan and jobs and scholarships. Since his an e-book and video series for tion advisory and private-equity speaks often on the importance Iraq as a communications o cer becoming chair, the organization CEOs and HR executives to serve practices have doubled since of understanding the military’s for a eld artillery unit. He is on has received new funding from as a playbook for hiring. Petrucci assumed national re- role in a democratic society. the governing board of nonpro t the MacArthur Foundation and sponsibility for them in 2017. Code Platoon. other groups. He also serves on the boards of National Able Net- work and Delta Dental of Illinois.
Congratulations Tye Clark DIRECTOR OF BUSINESS CONTINUITY MANAGEMENT
Congratulations on being named a Notable Veteran Executive by Crain’s. We are thankful for your service in the U.S. Navy, your leadership and ability to build teams. It is an honor to work alongside such a dedicated, collaborative colleague who inspires us all.
About William Blair William Blair is the premier global boutique with expertise in investment banking, investment management, and private wealth management. We provide advisory services, strategies, and solutions to meet our clients’ evolving needs. As an independent and employee-owned fi rm, together with our strategic partners, we operate in more than 20 o ces worldwide.* Visit williamblair.com for more information.
*Includes strategic partnerships with Allier Capital, BDA Partners, and Poalim Capital Markets. 350,000
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CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 51
FROWENE HARVEY BRIAN ROWLAND RODGERS Co-founder LABOR FORCE PARTICIPATION, 2018 Men Women Human resources director A Safe Haven 100% Grainger Brian Rowland and his wife, Neli Frowene Harvey Rodgers is HR Vazquez-Rowland, in the 1990s partner for the merchandising founded the nonpro t, which 80 79.5% 82.8% and supplier management orga- provides housing and services 74.7% nization and also supports HR for people recovering from drug 73.5% 71.7% 60 team members and alcohol 58.1% in international addiction. 52.3% operations. Brian Row- 40 47.4% During the land oversees pandemic, expansion to 20 Rodgers has serve homeless 20.9% worked to populations 20.3% ensure there and especial- 0 were leaders ly homeless WWII, Korean War Gulf War Era I Gulf War Era II Other service period Nonveterans and sta in veterans. He and Vietnam War place to merchandise, source led the recent groundbreaking and provide PPE to front-line of housing projects for veterans: workers, rst responders, med- a 75-unit apartment building UNEMPLOYMENT RATES FOR VETERANS BY SERVICE PERIOD, 2018 ical professionals and govern- in Hobart, Ind., and a 90-unit Men Women ment o cials. Grainger also apartment building in Chicago. 4.0% supplied schools and universi- e projects are in partnerships 3.9% 3.5 3.8% ties. Rodgers served as an Army with HUD/VA and city agencies 3.6% 3.6% 3.7% 3.5% 3.5% operational commander and and will provide permanent af- 3.0 led a supply chain and logistics fordable apartments for veterans 2.9% team for a 27,000-soldier unit in who are low income, senior or 2.5 South Korea. She later managed disabled. Since its start, A Safe 2.0 leadership and career devel- Haven has served 130,000 peo- 2.1% opment of nearly 3,000 Army ple, including more than 35,000 1.5 1.7% senior logistics leaders. She veterans. It also hires veterans was selected for the eld rank and helps them obtain jobs 1.0 of major. At Grainger, Rodgers elsewhere. Rowland served in 0.5 is a member of the Veterans & the Army as a specialist and was Military Supporters business re- assigned to military police. source group and mentors newly WWII, Korean War Gulf War Era I Gulf War Era II Other service period Nonveterans hired veterans. and Vietnam War Source: Pew Research Center
Sterling Bay salutes Erin Belknap, Head of Security & Emergency Preparedness, as a recipient of Crain’s Notable Veteran Executives.
We honor and appreciate the ZHJYPÄJLZVMHSS[OVZL^OVOH]L served our great country. Happy Veteran’s Day
Erin Belknap sterlingbay.com The Grand Flag Sergeant, U.S. Marine Corps '[OLNYHUKÅHN 52 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
ED SANDRICK SHAWN VINCENT VAN VINCENT TOM WIFFLER ELI H. WILLIAMSON Director of the veteran channel, President and CEO President and CEO CEO Co-founder Humana Strategic Alliances Loyola Medicine VLV Development and VGI Energy UnitedHealthcare Specialty Leave No Veteran Behind Humana Benefits Shawn Vincent manages the Urban developer Van Vincent e nonpro t co-founded by Eli At Humana, Ed Sandrick leads a nancial, operational and oversees projects in a ordable Tom Wi er leads the strategy Williamson provides transitional team that develops and imple- strategic performance of Loyola housing and clean energy. He for specialty bene ts including jobs for veterans and scholar- ments veteran outreach activi- Medicine, which includes Loyola recently led the development dental, vision and hearing. Wif- ships that help repay student ties at the state and local level. University Medical Center, Mac- and construction of a solar er initiated collaborations with loans. On a given day, Leave No He’s the point Neal Hospital energy project Warby Parker Veteran Behind person for and Gottlieb in Bronzeville, and SmileDi- provides tran- Humana’s na- Memorial Hos- a collabora- rectClub to sitional jobs to tional veteran pital. He over- tion with the improve the more than 75 service organi- sees physician Department accessibility veterans and zation part- researchers at of Energy and a ordabili- their fami- ners, including Hines Veterans and other ty of vision and lies through the Veterans of Hospital and organizations. dental care, contracts with Foreign Wars also serves as VLV recently respectively. government and American president of the acquired two He expand- agencies and Veterans. Sandrick spearheaded Illinois region for parent Trinity closed Chicago public schools, ed access to hearing services, social service organizations. a campaign, Uniting to Combat Health. Vincent joined Loyola which are slated to be developed reducing the cost of custom-pro- During the pandemic, the non- Hunger, that provided more than in 2018 and achieved a nancial as clean energy centers. Vincent grammed hearing aids. He also pro t is hiring veterans as con- a million meals for food-inse- turnaround. He increased the is a Navy veteran whose ship was led the introduction of pet insur- tract tracers. Williamson served cure veterans across the country. minimum wage for employees part of the response group for ance and insurance designed for in Iraq and Afghanistan as an Last year, he helped develop by 20 percent. Vincent was a the 1983 terror attack in Beirut. intermittent “gig” workers. Wif- Army noncommissioned ocer; and launch a national Medicare Marine Corps lance corporal Over the past decade, VLV has er was a company command- he was a specialist in psycho- Advantage health plan, Humana who served as a mortarman and developed a portfolio of 500 er and logistics ocer in the logical operations and an Arabic Honor, designed to complement was honorably discharged after units of a ordable housing, a Marine Corps and also served in linguist working on outreach to government bene ts. Sandrick su ering service-connected clean energy portfolio and adap- leadership roles in the reserves. foreign civilian communities. served on active duty as an injuries. Vincent has volunteered tive reuse projects. He worked Wi er is executive sponsor of Before leaving the Army, Wil- infantry ocer in the Marine with veterans organizations to with child care agencies to build the company’s military hiring liamson was a retention ocer, Corps and retired from the Ma- mentor men and women tran- playgrounds on the South Side program and has hired veterans providing career counseling and rine Corps Reserve in 2000 with sitioning to the civilian work- and collaborated with job train- since the early 2000s as they support to soldiers entering and the rank of colonel. Sandrick force, particularly those with a ing agencies to hire minority returned from active duty in leaving the military. Between helped develop the Veterans Hir- service-connected disability. solar installers for South Side Iraq and Afghanistan. He’s a 2012 and 2016, he was program ing Initiative at Humana, which He served on the board of the projects. member of the Veterans Working director at the McCormick has provided employment to Warrior Alliance, which helps Group of the Commercial Club Foundation, a leading funder of veterans and their spouses. veterans transfer their skills to of Chicago. veterans programs. the civilian workforce.
CONGRATULATIONS TO ANACOSTIA’S DAVID HANKINS! CRAIN’S 2020 NOTABLE VETERAN EXECUTIVE
We salute our human resources director, David Hankins, and all the veterans and active military personnel on the Anacostia Rail Holdings team.
EXPERIENCED • SECURE • READY TO SERVEANACOSTIA.COM CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 53
DOUG ZUVICH Partner KPMG ‘Veterans can help build At KPMG, Doug Zuvich serves as global leader for the rm’s trade and customs practice. He helps clients comply with regula- more resilient communities’ tions governing export control, sanctions and When Eli Williamson left the Army in gest funders is the beer company Modelo. We had a client who was a police o cer import tari s 2009, his rst order of business was repay- Our board weighs and votes on the applica- and he talked about the violence at King and grew prac- ing student loans that had been deferred. tions of veterans seeking help—they have to Drive and 35th Street. “I’m tired of seeing tice revenue Williamson and his friend Roy Sartin have devoted time to community service. kids dying in the streets,” he told us. We by 20 percent quickly realized the student debt was a went to Chicago Public Schools and over the past problem weighing on many veterans. ey How did you come up with your transi- o ered to do anti-violence work. at was year. Zuvich in decided to launch a nonpro t to raise tional jobs program? the beginning of the Safe Passage program, 2004 founded money for debt relief and also to provide We saw a lot of unemployment and which employs workers to ensure students KPMG’s U.S. transitional jobs for veterans as well as for underemployment among veterans. Most can travel safely to and from school. trade practice, young people. Today, Leave No Veteran programs o er résumé development, which has grown to cover 80 Behind has paid $10 million in transi- training and then help with placement What kind of jobs? countries with more than 570 tional wages and won $330,000 in student for a permanent job. e problem is that In the beginning we were scrambling for professionals across the globe. debt relief through 25 scholarships. it’s expensive for people to show up for opportunities to keep veterans employed. Zuvich served in the Navy as a training when they don’t have any money We had contracts for work in security, cryptologic technician special- CRAIN’S: How did your student debt in their pocket. construction and building demolition. izing in Morse code collection in uence the start of the nonpro t? with stints in Japan and South WILLIAMSON: While I was still in the Do your veteran clients “WE HOMED IN ON THE IDEA THAT VETERANS Korea. He is partner champion military, I learned that our student loans share common challenges? for KPMG’s Veterans Network in would be no longer deferred when we re- You have people who have CAN DO GOOD WORK WITH YOUTH.” Chicago and chair of the rm’s turned home. We drafted a letter to Oprah trauma from their experience National Veterans Workforce asking her to pay o our loans but never in the military. Some have a disrupted Eventually we homed in on the idea that committee and works to recruit sent it. We realized most scholarships are family life. Getting out of the service is just veterans can do good work with youth and retain veterans. Also, he based on potential. But what if they were one of many transitions. Some struggle and in helping to build more resilient established the Aon Center based on actual performance, since many when they’re older and out of the work- communities. We’re a vendor for the city Veterans Initiative Group, which veterans had completed military service force. ere’s a high suicide rate for veter- to conduct contact tracing for COVID-19. supports the veterans communi- and earned their degrees? ans from the Vietnam era. We also promoted veterans as poll watch- ty in downtown Chicago. ers. Our job is to give someone a skill What was the solution? What got the jobs program o the set, a referral and wages to stabilize their We were able to fundraise. One of our big- ground? economic situation. 54 NOVEMBER 9, 2020 • CRAIN’S CHICAGO BUSINESS
æ`ÛiÀÌÃ}-iVÌ BATTLE OF THE BLUES A proposed $2.7 billion settlement of an antitrust case would enable all 36 independent Blue Cross plans to invade each other’s CLASSIFIEDS markets. Collectively, the plans cover roughly 1 in 3 Americans. To place your listing, contact Claudia Hippel at 312-659-0076 BLUES PLANS’ SHARE OF U.S. HEALTH INSURANCE MARKET Direct written premium or email [email protected] .www.chicagobusiness.com/classi eds Anthem (Indianapolis) 6.3% $73.94 billion Health Care Service Corp. (Chicago) 3.4% $39.12 billion
CAREER OPPORTUNITY REAL ESTATE Independence Blue Cross (Philadelphia) 1.5% $17.86 billion BUSINESS ANALYTICS DATA ENGINEER NEW CONSTRUCTION (Citadel Securities Americas LLC – Chicago, IL) SCHERERVILLE, IN Blue Shield of California (Oakland) 1.5% $17.39 billion Wrk with business teams to defi ne business 2 Story Home, 4 Bed, 2.5 Bath 3 Car Garage Anthem Blue Cross of California (Thousand Oaks) 1.4% $16.50 billion problms & scope out appropriate solutns, Full Basement Located on Large Wooded Lot provid’g synthesized data analytics & business in Saratoga Subdivision Easy Commute to Blue Cross Blue Shield of Michigan (Detroit) 1.2% $14.52 billion intelligence insights to infl uence strategic Illinois; Low Taxes $467,000 business decision mak’g. F/T. Reqs a Bach CALL JERRY 219 712 6043 degree (or foreign equiv) in CompSci, InfoSys, [email protected] Highmark Blue Cross (Pittsburgh) 1.2% $14.37 billion Math, Stats or a rel quantitative fi eld & 1 yr of exp in the job o ered or wrk’g with business Horizon Blue Cross Blue Shield of New Jersey (Newark) 1.1% $12.25 billion analytics or data analytics. All stated exp must include the follow’g: adv math & stat model’g REAL ESTATE CareFirst BlueCross BlueShield (Baltimore) 0.8% $9.00 billion techniques includ’g time-series analysis, cross- sectional analysis, Statistical Machine Learning NEW CONSTRUCTION Blue Cross Blue Shield of North Carolina (Durham) 0.8% $8.92 billion or regression analysis; SQL programm’g in WATERFRONT HOMES relational databases; data visualizat’n in Source: National Association of Insurance Commissioners 2019 market share report NEW LUXURY SUB ON LAKE MICHIGAN Tableau, Power BI or similar; and utiliz’g Located in Traverse City, MI Python libraries include’g pandas or numPy Includes a Boat Slip in Lake Michigan for data analysis. Resumes: Citadel Securities Starting at $1.3M • Call Kyle 231.499.9999 Americas LLC, Attn: ER/LE, 131 S Dearborn St, Visit www.PeninsulaShores.com Antitrust settlement would let Blues compete 32nd Fl, Chicago, IL 60603. JOB ID: 4749224. BLUES from Page 1 dividual markets there is actual- son says “each Blue Cross & Blue ly more competition.” Shield company will be making a VIDEO SERVICES to face-offs with Blues behe- The settlement also would payment toward the settlement.” moth Anthem. eliminate a national revenue He would not disclose HCSC’s LAW GET THE VIDEO CONTENT YOU NEED TO TAKE YOUR BUSINESS TO THE NEXT LEVEL. “If Anthem, for whatever rea- cap—while relaxing a local portion of the $2.7 billion or QUESTIONS? We got ANSWERS! Visit e Montaj To day! son, really wanted to go in and one—on products that aren’t comment on the allegations. e dislodge Health Care Service sold under the cross and shield, proposed settlement requires ap- HALE & MONICO Corp., and that’s something the allowing plans to maximize proval by a judge. (312) 500-2951 employer wanted to happen, profits in and out of their as- WWW.THEMONTAJ.COM there’s definitely a greater po- signed service areas. OPPORTUNITIES HaleMonico.com tential for that going forward The rule could explain HCSC’s Thompson declines to com- Injury Attorneys than before,” says James Sung, relatively cautious expansion ment on whether HCSC will an associate director at S&P strategy. Meanwhile, other pursue new competitive op- Global. big insurers like UnitedHealth portunities that might arise as LEGAL SERVICES AUCTIONS The more likely scenario, Group and CVS Health have exe- a result of the settlement. But experts agree, involves bigger cuted multibillion-dollar trans- industry observers say HCSC advertising opportunities available DADS’ RIGHTS! Blues like Anthem and HCSC actions that blur the lines be- could go after employers based swiping customers from their tween insurers, pharmacies and in other markets with more than To advertise contact smaller brethren. Large national doctors. Increasingly, they’re 5,000 workers, and look to buy Claudia Hippel employers that currently work acquiring physician practices or build for-profit subsidiaries [email protected] with smaller Blues might now and health care services com- that offer one-stop solutions 312-659-0076 look to an HCSC or Anthem for panies, and marketing them focusing on specific conditions Follow Our Victories ! a broader national plan. to their own clients, as well as such as diabetes, as well as dou- “They could win more busi- other Blue and non-Blue insur- ble down on a primary care joint ness in some of those areas ance companies, where the smaller plans have Sung says. “That been able to keep some of those piece is some- “IRONICALLY, YOU COULD END UP WITH OUR READERS ARE legacy contracts,” says Morning- thing I think a lot A SITUATION WHERE, NATIONALLY, THE star analyst Julie Utterback. of the big Blues 125% MORE LIKELY Freedom to enter more mar- that have the cap- MARKET LOOKS LESS COMPETITIVE, TO INFLUENCE kets also potentially strengthens ital might look at BUT IN INDIVIDUAL MARKETS THERE IS OFFICE SPACE big Blues against non-Blue in- more deeply.” surers. Such plans have had an The proposed ACTUALLY MORE COMPETITION.” DECISIONS advantage in the competition settlement also for national employer accounts could lead to con- Amanda Starc, Northwestern University’s Kellogg because, historically, it has been solidation—both School of Management easier for them to create large, between Blues multistate networks, Utterback plans and non-Blue companies. venture with medical center op- says. But now employers might A rule that requires buyers to erator Sanitas USA in Texas. be more willing to work with ensure the majority of revenues Anthem CEO Gail Boudreaux large Blue companies—espe- come from Blue-branded prod- is similarly coy on how her com- cially if those plans can offer ucts was among the roadblocks pany might capitalize on the lower prices. to Anthem’s failed 2017 merger loosening of competitive restric- Utterback notes that Blues with non-Blue Cigna. tions on Blues. “I really don’t see plans “tend to have very low But freedom to compete this changing our stated strate- pricing in general.” comes with a steep price tag. gy, and I think that we are very The Blue Cross Association and excited about the growth pros- COMPETITION all 36 independent Blues have pects we have across Anthem,” If the settlement leads more agreed to pay $2.7 billion to set- Boudreaux told analysts on a re- plans to enter into new mar- tle antitrust charges brought by cent quarterly earnings call. Find your next kets, premiums in those mar- a large group of employers and Still, the proposed settlement kets could fall. But it’s unclear individual policyholders. An- aims to increase competition. corporate tenant or leaser. whether increased competition them—the third-largest health “Whether it does, and in will affect the ability of insurers insurer in the nation—expects which market it does, remains to extract large discounts from to cover 22 percent of the settle- to be seen,” Sung says. “There hospitals and health systems, ment, or $594 million, accord- are a lot of strong Blues on their says Amanda Starc, an associate ing to the insurer’s third-quarter own, and they do have existing professor at Northwestern Uni- earnings report. Sources say the relationships between them. versity’s Kellogg School of Man- charges likely are being allocat- We’ll see what happens and how agement. ed by size, with $104 billion-rev- they compete and evolve against “Ironically,” Starc says, “you enue Anthem paying the most, some of the other players that Connect with Claudia Hippel at could end up with a situation followed by $38 billion-revenue have more strategic flexibility. [email protected] for more information. where, nationally, the market HCSC. But now the Blues have a little looks less competitive, but in in- HCSC spokesman Greg omp- bit more as well.” CRAIN’S CHICAGO BUSINESS • NOVEMBER 9, 2020 55 As new downtown office towers rise, who will lose in game of musical chairs?
OFFICES from Page 3 ◗ companies are leaving is daunting. EMPTY FEELING Two LaSalle Street properties Three new downtown office buildings are pulling more than 3 million square feet of tenants out of other buildings stand out: Bank of America is abandoning 800,000 square feet at in the central business district, creating big blocks of vacancy that might stay that way until well after the COVID-19 135 S. LaSalle St. in favor of its new pandemic subsides. Here are some of the biggest moves. namesake 110 N. Wacker Drive Moving to: 110 N. Wacker Drive (Bank of America Tower) Old Post Office 320 S. Canal St. (BMO Tower) tower, while BMO Harris Bank and law rm Chapman & Cutler are set to leave around 960,000 square feet combined in o ce Heitman buildings at 115 S. LaSalle St., 111 Leaving 60,000 Faegre Drinker Jones Day and Morgan W. Monroe St. and 200 W. Adams Biddle & Reath square feet at 191 St. for the 50-story BMO Tower Lewis & Bockius Leaving 112,000 N. Wacker Drive under construction next to Union Leaving about 200,000 square square feet at 191 Station. feet at 77 W. Wacker Drive RANDOLPH Among the other gaping N. Wacker Drive Federal Home holes: ere’s now an empty LASALLE Loan Bank 412,000-square-foot building at Leaving 96,000 555 W. Monroe St., which Pepsi- WASHINGTON square feet at BMO Harris Bank and Co ditched for the Old Post O ce. Aon Center Chapman & Cutler And the developer behind both AbelsonTaylor Leaving roughly 960,000 Bank of America Tower and BMO Leaving 100,000 Tower is plucking two law rms MADISON square feet at 115 S. LaSalle square feet at 33 and 200,000 square feet from 77 W. Lincoln International St.,111. W. Monroe St. and W. Monroe St. Wacker Drive and 170,000 square Leaving around 47,000 square 200 W. Adams St. feet from 191 N. Wacker Drive. feet at 500 W. Madison St. MONROE MICHIGAN REVAMPS Investors have mostly shrugged o leasing losses like those in re- PepsiCo cent years, eagerly revamping Leaving 412,000 Bank of America Perkins Coie their buildings with tness cen- square feet at WACKER Leaving roughly Leaving 118,000 ters, lounges, rooftop decks and 555 W. Monroe St. other creature comforts to lure JACKSON 800,000 square feet square feet at new tenants. Sterling Bay in 2017 at 135 S. LaSalle St. 131 S. Dearborn St. bought a 15-story o ce build- ing in need of a makeover at 311 W. Monroe St. that was virtual- ly empty after BMO Harris left it Faegre Drinker behind. e Chicago developer Biddle & Reath STATE added a slew of new features, in- Leaving 54,000 cluding a bowling alley and gam- CBOE ing area, and leased up the entire square feet at 311 Leaving 300,000 square 400,000-square-foot property by Sources: CoStar Group, Crain’s reporting S. Wacker Drive feet at 400 S. LaSalle St. last fall. at was in the pre-COVID era. Demand to support such reno- COVID storm by undercutting the For buildings that have both vations may never return if more market to get tenants in the door. high vacancy and big mortgages people work from home more to pay, cutting rents to generate often or if companies favor sub- FLEXIBILITY cash ow may be the best option urban workspace over the city. “What we’re going to sell is to stave o default. at could be And the ood of new supply has value and exibility,” says Matt an issue for AmTrust when Bank been exacerbated by roughly 1.7 Pistorio, whose Madison Rose of America’s lease expires in July million square feet of o ces that leasing brokerage portfolio in- at 135 S. LaSalle St., where the have hit the sublease market in cludes seven vintage downtown owner has a $100 million loan 2020 alone. buildings owned by New York- that was packaged with others e bigger problem: Even if based AmTrust Realty, including and sold o to bondholders. a landlord wanted to renovate 135 S. LaSalle St. and a 44-story Situations like that one put a building for o ce users, it’s tower at 30 N. LaSalle St. where lenders in a tough spot, decid- hard to know where to start un- the city of Chicago just vacated a ing whether to foreclose and cut RIVERSIDE INVESTMENT & DEVELOPMENT & INVESTMENT RIVERSIDE til companies return to physical 262,000-square-foot o ce. their losses or try to work with workspaces in full force. Some Hoping to attract cash-sensi- owners to give buildings new life may covet high-tech air ltration tive tenants to second-genera- as o ces or something else. On systems, touchless technologies, tion space, AmTrust is building one hand, banks don’t want to larger elevator cabs and other out three dozen so-called spec be left holding the bag if a land- health-focused features that may suites—semi-furnished o ces lord walks away from a property. be harder to accommodate with that would allow a new tenant to But ambitious redevelopments
outdated buildings. GROUP COSTAR BOEHM R. JOHN move in quickly—and o ering re- “are well into the future because “Some of these buildings are Clockwise from left: 110 N. Wacker Drive (Bank of America Tower), 320 S. Canal St. (BMO Tower) and duced rent in space that could po- there’s going to be no appetite equipped to ght harder (for ten- the Old Post O ce. tentially be leased by the month. right now for banks to want to ants) and some of them aren’t,” “ ere are still companies that lend on that kind of product says tenant rep Ari Klein, vice veloper play made in Chicago, N. Wabash Ave., selling o the are going to want to go to Fulton (when) you don’t know what’s chairman in the Chicago o ce a market where nearly 70 per- lower oors of the tower to a hotel Market because it’s cool with going to happen over the next six of brokerage Cushman & Wake- cent of downtown o ce proper- owner that turned them into the brand-new buildings and tech- to nine to 12 months,” says Drew eld. “Some building owners are ties were built before 1990—the ultra-luxury Langham hotel. nology for post-COVID (tenant Burlak, senior vice president of going to have to decide whether third-highest share among major But the outlook for almost any needs),” Pistorio says. “But there commercial lending in the Chica- they want to (keep them as) o ce U.S. markets, according to New- new use, be it a hotel, apartment are going to be a signi cant num- go o ce of TCF Bank. buildings or whether it’s some- port Beach, Calif.-based real es- building or something more un- ber of tenants that say it’s more “Either these buildings are thing else.” tate research rm Green Street. conventional is murky at best as important to operate e cient- going to be able to somehow re- Turning older o ce buildings Chicago developer Prime Group the coronavirus grips the econ- ly because this pandemic has tenant at lower rents and hope- into something di erent after went that route in 2007 with the omy. at’s why some landlords taught us that you never know fully make the numbers work, or losing tenants is an oft-used de- former IBM Plaza building at 330 are hoping they can weather the what’s going to happen.” they’re just going to sit.”
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