Real Finds Podcast: Commercial Real Estate Unfiltered

Real estate is more than just what we can see, touch, taste, and smell. Real estate drives culture. The Real Finds Podcast connects global trends to real estate decisions across Chicago and the Midwest. Hosted by Gordon Lamphere, a fourth-generation commercial real estate broker at Van Vlissingen & Co., each weekly episode explores how macroeconomic shifts in supply chains, interest rates, automation, public policy, and culture drive commercial real estate outcomes. Moreover, Gordon and his guests take high-level insights and apply them to better understand high-transaction markets, including: Chicago (downtown office, adaptive reuse), Elk Grove and O’Hare (industrial/logistics), Kenosha (SE Wisconsin distribution), Oak Brook and Schaumburg (suburban office), Naperville and the I-88 Corridor (flex and R&D), Bolingbrook and the I-55 Corridor (warehouse/fulfillment), and the collar counties: Lake, DuPage, Will, Kane, and McHenry. Guests include developers, investors,

Real Finds Podcast: Commercial Real Estate Unfiltered is a business podcast hosted by Gordon Lamphere, with 102 episodes on record and a Required Pod Score of 80.

Gordon Lamphere hosts Real Finds Podcast: Commercial Real Estate Unfiltered, a business show with 102 episodes published.

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  Real Finds Podcast: Commercial Real Estate Unfiltered

  State Of The Market Chicagoland 2026 - Q3

  Sep 9, 202648 min

  Last quarter, the Chicagoland commercial real estate market stopped waiting. This quarter, it picked sides. A law firm committed to anchor a new downtown office tower in the most expensive construction environment Chicago has ever seen. Institutional capital is back on multifamily bid sheets. And farmland that traded for $15,000 an acre 18 months ago is being underwritten for gigawatts. Gordon Lamphere, J.D., delivers the Q3 2026 State of the Chicagoland Commercial Real Estate Market across office, industrial, multifamily, retail, and, for the first time as its own segment, land.Depending on which report you pulled this quarter, Chicagoland industrial vacancy was 4.8%, 5.3%, or 6.1%. Gordon explains why the published numbers disagree and how the RFP Index at rfp.vvco.com aggregates them into a single defensible read. From there: why the industrial "slowest year since the Great Recession" headline lasted two quarters, why Chicago structurally cannot oversupply apartments, why there are two Chicago retail markets separated by a 25-point vacancy spread, and why a utility will-serve letter may be the most valuable document in the region.What we cover:• Why three sources report three different industrial vacancy rates• Construction costs, the trades, and the moat for what is already built• Sidley Austin anchoring 968,000 square feet at 725 West Randolph• CBD direct absorption positive for the first time since 2023• Industrial absorption up 146% and 21.8 million square feet of leasing• Power before rent: reshoring converts to leases• Fewer than 4,000 apartment deliveries, the smallest pipeline since 2012• Grocery-anchored strength versus the Loop at roughly 30% vacancy• Tract's one gigawatt in Morris and Joliet's 1.8 gigawatt annexation• Entitlement risk, the state incentive pause, and the halo play• The five numbers that matter for the next 12 to 18 monthsNew episodes drop every Wednesday at 3 PM CT on YouTube and Spotify. Subscribe so you never miss a conversation.Learn more at vvco.com, email info@vvco.com, or call 847-846-6902.The Real Finds Podcast is hosted by Gordon Lamphere, J.D., a fourth-generation commercial real estate broker and Vice President of Sales and Leasing at Van Vlissingen and Co., Chicagoland's oldest private commercial real estate firm, founded in 1879. Recognized by independent industry publications among the region's top brokers, Gordon and his team close 100+ transactions annually across industrial, office, retail, medical office, land, and investment properties in Greater Chicagoland and Southeastern Wisconsin. Learn more at vvco.com or call 847-846-6902.Connect with Gordon and the RFP Index:Website: https://vvco.comRFP Chicagoland Commercial Real Estate Index: https://rfp.vvco.comX: @Gordon_CREInstagram: @Gordon_CRETikTok: @Gordon_CRETimestamps:0:00 The market picked sides0:41 Why the data disagrees5:33 The backdrop8:01 Office16:15 Industrial24:00 Multifamily30:30 Retail37:15 Land42:30 The five numbers that matter46:46 Close#ChicagoCommercialRealEstate #ChicagolandCRE #CommercialRealEstate #IndustrialRealEstate #OfficeMarket #Multifamily #DataCenters #RealFindsPodcast #Chicago

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  Episode #109

  Why Everything You Believe About Trade Deficits Is Wrong With Michael Klein

  Jul 29, 202654 min

  Ask a room of economists almost any policy question and you get an argument. Ask whether broad based tariffs benefit a country and you get something rarer: near unanimity, left leaning and right leaning alike. Michael Klein has spent a decade building the site that puts findings like that in front of people who do not read journal articles, and in this conversation he walks through what the evidence actually says. On this episode of The Real Finds Podcast, Gordon Lamphere sits down with Professor Michael W. Klein, the William L. Clayton Professor of International Economic Affairs at The Fletcher School at Tufts University, former Chief Economist in the Office of International Affairs at the U.S. Treasury, and founder of EconoFact. Exchange rates, trade deficits, dollar dominance, Fed independence, affordability, and what all of it means for commercial real estate. What we cover: Why Milton Friedman called the exchange rate the most important price in an economy The iPhone counted as a $300 import from China while China added $5 of value Why a bilateral trade deficit resembles your relationship with your grocery store The student loan versus the Ferrari: when borrowing is a problem and when it is not Rare earths, semiconductors, and aluminum, where security concerns are legitimate One steel producing job, 80 steel using jobs, and the arithmetic of a tariff Whether dollar dominance is eroding, and why the Treasury market matters more Fed independence and what Kevin Warsh's first FOMC meeting signaled Housing supply, zoning, and why Western drought is about to hit food prices Why Klein thinks office to residential conversion mostly does not work Private credit as the opacity risk nobody has fully priced New episodes drop every Wednesday at 3 PM CT on YouTube and Spotify. Subscribe so you never miss a conversation. Learn more at vvco.com, email info@vvco.com , or call 847-846-6902. The Real Finds Podcast is hosted by Gordon Lamphere, J.D., a fourth-generation commercial real estate broker and Vice President of Sales and Leasing at Van Vlissingen and Co., Chicagoland's oldest private commercial real estate firm, founded in 1879. Recognized by independent industry publications among the region's top brokers, Gordon and his team close 100+ transactions annually across industrial, office, retail, medical office, land, and investment properties in Greater Chicagoland and Southeastern Wisconsin. Learn more at vvco.com or call 847-846-6902. Connect with Michael Klein: Website: https://econofact.org Podcast: EconoFact Chats, https://econofact.org/podcast Faculty page: https://fletcher.tufts.edu/people/faculty/michael-klein LinkedIn: https://www.linkedin.com/in/michael-klein-59794310/ Email: contact@econofact.org Timestamps: 00:00 Introducing Professor Michael Klein00:58 A tannery, a Shakespeare class, and comparative advantage02:29 Why EconoFact exists05:24 The most important price in an economy07:42 What exchange rates mean for builders and investors10:23 Strong dollar or weak dollar12:10 Churning: hiring and firing at the same time13:56 The biggest misconception about trade deficits18:44 Aluminum, semiconductors, and rare earths21:45 Why tariffs did not move the trade deficit26:16 Are tariffs ever good policy28:32 Is dollar dominance actually at risk32:44 Federal Reserve independence and why it exists38:49 Affordability, inflation, and housing supply42:33 Real Finds Final Four43:31 What CRE is not talking about enough45:51 Ten years out and the limits of forecasting49:20 One minute of career advice50:18 Who should be our next guest51:46 How to reach Michael Klein52:46 Close #CommercialRealEstate #Economics #Tariffs #TradeDeficit #ExchangeRates #FederalReserve #Inflation #Housing #EconoFact #CRE #RealEstatePodcast #Chicagoland #VanVlissingen #TheRealFindsPodcast

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  Episode #108

  Why Institutional Capital Is Wrong About Workforce Housing With Jon Siegel

  Jul 15, 202649 min

  Most multifamily investors are chasing brand new, low-risk product. Jon Siegel thinks that herd mentality is exactly why the biggest opportunity in apartments is sitting in plain sight. As Co-Founder and Chief Investment Officer of RailField Partners, a Bethesda-based multifamily investment firm operating across the Mid-Atlantic, Southeast, Texas, and now the Midwest, Jon spent years inside Fannie Mae's multifamily group before advising on billions in transactions and ultimately buying institutional-grade apartments himself. His take: the value-add playbook that made everyone look like a genius in 2021 is dead, and the investors still waiting for that market to come back are going to keep waiting. In this conversation, Jon breaks down why so many bridge-loan-era deals are stuck with no equity left, what savvy investors are actually waiting for before jumping back in, why institutional capital refuses to touch 1970s and 1980s vintage workforce housing even when it is 95 percent occupied in supply-constrained submarkets, and why that reluctance creates real opportunity for disciplined buyers. He also gets candid about political risk, rent control, and why the multifamily industry keeps losing the public narrative. What we cover:- Why "extend and pretend" has clogged the multifamily market for four years- The 2021 syndicator playbook: bridge loans, kitchen renovations, and the math that broke- What a good multifamily deal actually looks like in 2026- Real lease trade-outs: the signal savvy investors are waiting for- Oversupply in the Sun Belt vs. steady rent growth in Midwest markets like Indianapolis- The workforce housing opportunity institutional capital won't touch- Red flags in older vintage product, and why submarkets matter more than markets- Seller psychology: the seven stages of grief before a deal gets done- Rent control, algorithmic pricing, and the political risk multifamily isn't taking seriously- Patience and persistence: the two traits behind long real estate careers New episodes drop every Wednesday at 3 PM CT on YouTube and Spotify. Subscribe so you never miss a conversation. The Real Finds Podcast is hosted by Gordon Lamphere, J.D., a fourth-generation commercial real estate broker and Vice President of Sales and Leasing at Van Vlissingen and Co., Chicagoland's oldest private commercial real estate firm, founded in 1879. Recognized by independent industry publications among the region's top brokers, Gordon and his team close 100+ transactions annually across industrial, office, retail, medical office, land, and investment properties in Greater Chicagoland and Southeastern Wisconsin. Learn more at vvco.com or call 847-846-6902. Connect with Jon Siegel:Website: https://www.railfieldrealty.comEmail: jsiegel@railfieldrealty.comLinkedIn: https://www.linkedin.com/in/jonsiegel1/ Timestamps:0:00 - The 2021 syndicator playbook that broke1:27 - Why real estate: from radio station to Fannie Mae2:20 - How the capital stack has been rebuilt after 20226:10 - Bridge loan distress and why the market is stuck13:00 - What everyone is waiting for and what a good deal looks like now17:20 - Oversupply, development pipelines, and pivoting to the Midwest22:49 - The workforce housing opportunity institutions won't touch26:27 - Red flags in older vintage product30:07 - Discipline, seller psychology, and getting deals closed34:06 - What we're not talking enough about: regulatory and political risk38:02 - What changes most in CRE over the next 10 years41:46 - One minute of advice: patience and persistence45:33 - Who should be on the podcast next47:34 - How to reach Jon #CommercialRealEstate #Multifamily #WorkforceHousing #RealEstateInvesting #MultifamilyInvesting #ApartmentInvesting #CREPodcast #RealFindsPodcast

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  Episode #107

  Why Family Real Estate Portfolios Collapse With Dr. Carey Chronis

  Jul 8, 202634 min

  Dr. Carey Chronis has spent more than 25 years running a pediatric practice in Ventura, California, and somewhere in the middle of it he discovered that the skill of connecting with a four-year-old, a defiant teenager, and a frustrated employee is fundamentally the same skill. His forthcoming book, Connection Rethink: Team Culture from Home to Boardroom, argues that the leaders who win at work and lose at home are usually making one mistake in both places: they jump in to solve instead of stopping to listen. In this episode of The Real Finds Podcast, Gordon Lamphere sits down with Dr. Chronis to unpack why connection is infrastructure, not an afterthought, and why the biggest threat to a multi-generational real estate portfolio is rarely the market. It's the family. We get into the discipline of listening without solving, the trap of micromanaging heirs and employees alike, and the "take two" technique for defusing conflict before it hardens. Most importantly for our audience, we dig into why family offices and multi-generational real estate families see portfolios collapse not from bad deals, but from family stress and misalignment, and what the family dinner table has to teach the boardroom. What we cover: - Why the connection you build with a team and the connection you build with a family run on identical skills - Listening without solving, and how high performers quietly train their people to stop coming to them - Connection as infrastructure: the daily huddle, the weeknight family dinner, and why rituals beat intentions - The micromanaging trap, from the helicopter parent to the founder who won't let an heir deploy capital - Building daily trust by asking what the system got wrong, not who's to blame - The "take two" technique for resetting a conversation that came out wrong - Grading stress across home, work, and friends on a zero-to-ten scale, and knowing when to bring in help- Why family offices and multi -generational real estate families lose portfolios to misalignment, not markets - Phones, screens, and self-discipline: protecting mealtime and the hour before bed - His ten-year view: the built environment shifting from efficiency toward spaces designed for human connection New episodes drop every Wednesday at 3 PM CT on YouTube and Spotify. Subscribe so you never miss a conversation. The Real Finds Podcast is hosted by Gordon Lamphere, J.D., a fourth-generation commercial real estate broker and Vice President of Sales and Leasing at Van Vlissingen and Co., Chicagoland's oldest private commercial real estate firm, founded in 1879. Recognized by independent industry publications among the region's top brokers, Gordon and his team close 100+ transactions annually across industrial, office, retail, medical office, land, and investment properties in Greater Chicagoland and Southeastern Wisconsin. Learn more at vvco.com or call 847-846-6902. Connect with Dr. Carey Chronis: Website: www.CareyChronisMD.com Book: Connection Rethink: Team Culture from Home to Boardroom LinkedIn: Carey Chronis, MD #CommercialRealEstate #FamilyOffice #RealEstateInvesting #FamilyBusiness #Leadership #TeamCulture #CRE #SuccessionPlanning #MultiGenerationalWealth #RealFindsPodcast

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  Episode #106

  Why Smart Investors Are Buying Dirt With Ron Rohde

  Jul 1, 202652 min

  On today's episode of The Real Finds Podcast, Gordon Lamphere sits down with Ron Rohde, a commercial real estate attorney, active investor, and one of the most recognizable voices in the industrial outdoor storage (IOS) space. Based in the Dallas-Fort Worth metroplex, Ron runs the Law Office of Ronald Rohde, PLLC, where he advises clients across industrial, retail, office, and multifamily transactions. He is also a direct owner and operator of industrial NNN properties, general counsel to a major retail shopping center platform, the author of a practical guide to industrial real estate investing, and the creator of a widely followed YouTube channel covering deals and commercial real estate law. Few people can speak to IOS from the investor, broker, and attorney seats all at once, which makes this conversation a genuine masterclass.Ron and Gordon dig into why industrial outdoor storage became one of the hottest asset classes of the last five years, how to underwrite a deal on rent per acre rather than price per foot, and why the building on an IOS site still matters more than most investors assume. Ron walks through the class A, B, and C surface tiers, the zoning and neighborhood-objection risks that can quietly wreck a deal, the real cost of landscaping and screening compliance, and how to think about tenant quality, decision speed, and lease execution across company sizes. He also shares candid advice on hiring the right real estate attorney, his view on retail's resilience after Amazon, and where AI is heading in the transaction workflow.What we cover:- What industrial outdoor storage actually is and why it trades differently from traditional warehouse- How to underwrite IOS on rent per usable acre plus triple net- The class A, B, and C surface tiers from dirt to gravel to concrete- Why the building still matters and what tenants now demand- Zoning, by-right use, and neighborhood objection as the biggest red flags- The hidden cost of landscaping, screening, irrigation, and site plan compliance- Financing IOS and how lenders now underwrite yard income- Finding a competitive edge in a crowded, institutional market- How to identify and keep a great commercial real estate attorney- Retail, big box, and irreplaceability as an investment thesis- Decision speed and bureaucracy across small, middle market, and institutional tenants- Where AI fits into the future of commercial real estateThe Real Finds Podcast is brought to you by Van Vlissingen and Co., Chicagoland's oldest private commercial real estate brokerage, founded in 1879 and serving Greater Chicago, Wisconsin, and the broader Midwest. Learn more at vvco.com, email info@vvco.com, or call 847-846-6902.New episodes of The Real Finds Podcast publish every Wednesday at 3 PM CT on YouTube, Spotify, iTunes, and wherever you get your podcasts. If you enjoyed this episode, please like, subscribe, leave a five-star rating, and drop a comment. Your support helps us keep booking quality guests.Connect with Ron Rohde on YouTube and follow his content on industrial outdoor storage, retail, and commercial real estate law.

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