UIC offers a broad curriculum that covers a range of Real Estate topics including Market Analysis, Real Estate Investments, Real Estate Finance, and Real Estate Data Analysis.
The Stuart Handler Department of Real Estate emphasizes development of the knowledge and skills required to conduct analysis of real estate decisions, along with a thorough understanding of real estate institutions and training in market and data analysis.
Graduates are prepared for jobs in the broad field of real estate that include working in appraisal, acquisitions, sales and leasing, corporate locations, mortgages, property management, and real estate focused jobs in financial institutions involving analytics, financial advising and investments.
A Note from the Acting Department Head Heading link
Our undergraduate degree program, anchored by research and industry active faculty, emphasizes development of the knowledge and skills required to conduct analysis of real estate business decisions. Students of real estate gain an understanding of real estate institutions, training in market and data analysis, and finance and investment modeling. Graduates are prepared for jobs in the broad field of real estate that include working in appraisal, acquisitions, sales and leasing, corporate locations, mortgages, property management, and real estate focused jobs in financial institutions involving analytics, financial advising and investment. Explore our courses, faculty, alumni, and advisory board to see how we work toward building Chicago’s future.Associate Professor and Acting Department Head, Stuart Handler Department of Real Estate|
The Stuart Handler Department of Real Estate delivers the following competencies to students Heading link
Theory and Practical Application for Fundamental Analysis
- What drives Real Estate Markets?
- Why Cities and how that connects to Real Estate?
- How decisions about space and place effect everyone
- How are Real Estate Markets connected to other markets?
Training in Data and Empirical Analysis
- Creating a house price index (national, local)
- Hedonic Models of prices- how are attributes of a house valued?
- How data can be used to summarize a real estate market
Financial and Investment Analysis
- Cost of capital models
- Mortgage markets
- Real Estate Investment Trusts
Practical Knowledge, Theory, and Empirics for Economic Development and Location Choice
- Examining the tradeoffs involved in location choice (individuals, firms)
- What drives local economic development (policies, markets)
- Low Income Housing Programs (builder and developer incentives)
Field Trip: Related Management Company Heading link
Leading Faculty Focus Heading link
UIC Business faculty at the Stuart Handler Department of Real Estate conduct academic research on issues related to real estate markets, with an emphasis on urban areas. This is an applied program with practical application. Real estate research encompasses policy issues such as local economic development, land use, housing affordability, assessment practices, property taxation, zoning and the effects of discrimination within the housing market.
All of these topics are addressed in the classroom via a focus on Chicago, as well as other cities throughout the world. The faculty’s research interests are directly incorporated into the department’s course offerings, and thus faculty provide students with a unique educational opportunity that supports UIC’s mission, while also having the potential to transform the world by contributing to our understanding of important policy issues.
Faculty members are now the leading recipients of grants at UIC Business. Recent grants include:
- Alternative Methods for Calculating Fair Market Rents in Rental Markets with Rapidly Rising Rents, HUD (Daniel McMillen)
- Housing Price Forecasts: Illinois and Chicago PMSA, Illinois Realtors® (Daniel McMillen)
- Local Economic Multipliers: New Estimates from Modern Empirical Techniques, Charles Koch Foundation (Andrew Hanson)
Stuart Handler Department of Real Estate Advisory Committee Heading link
Established in Fall 2020, the Stuart Handler Department of Real Estate Advisory Committee was launched to support the department by providing guidance and feedback from industry leaders and partners. Since its establishment, the advisory committee has grown from 8 to 14 members. The purpose of the committee is to facilitate a strong connection between the real estate business community and the real estate department to help enhance the department’s programs, student outcomes, and reputation.
The committee brings real-time and real-world perspectives on best practices, trends and challenges to help inform the development of the various programs and efforts that span research, teaching and student professional development. Advisory committee members, with up-to-date knowledge of the vision, programs and accomplishments, will become effective and enthusiastic ambassadors and advocates in the business community for the department.
Stuart Handler Department of Real Estate Advisory Committee Class Speakers Heading link
The Stuart Handler Department of Real Estate Advisory Committee Members Include:
- Erin Aleman, Executive Director, Chicago Metropolitan Agency for Planning
- Nick Cannon, Group SVP and Commercial Real Estate Division Manager, Wintrust Financial
- D. Scott Carr, President of Real Estate, Transformco
- Ray Cepeda, SVP-Managing Director, Northern Trust
- Ron DeVries, Senior Managing Director, Integra Realty Resources
- Dan Gladden, President-East Region,AMLI Management Company
- Jeff Gray, Attorney, Barnes and Thornburg
- John Hammerschlag, President, Hammerschlag & Co.
- Stuart Handler, CEO, TLC Management Co.
- Joe LaMantia, SVP, Related Midwest
- Jim Letchinger, President, JDL Development-LLC
- Dan Miranda, President, HAS Commercial Real Estate
- Tracey Scott, CEO, Chicago Housing Authority
- Scott Sattler, CEO and Partner, Shepard Schwartz & Harris
Jeffrey Gray, Barnes & Thornburg
Several students participated in an industry roundtable discussion at the January 2022 advisory committee meeting.
Tracey Scott, Chicago Housing Authority
John Hammerschlag, Hammerschlag and Co.
Dan Gladden, Amli Management Company
Ron DeVries, Integra Realty Resources
Student Engagement and Professional Development Heading link
Offering professional development and engagement opportunities for students are a tenet of UIC Business. Students experience faculty hosted field trips, corporate visits, events, and network and volunteer opportunities. In addition to programs offered through the Business Career Center, iLead Professional Development Program and Business Scholars program, special opportunities have been provided to students pursuing careers in real estate.
Real estate career fairs were held in 2021 and 2022. Some companies who have recruited on campus include AMLI Residential, Bradford Allen, Brookfield Properties Retail, Chicago Housing Authority, Faropoint, Ferguson Partners, Group Fox Management, Home Partners of America, Interfirst Mortage Co., National Corporate Housing, Prairie Management & Development, Smart City Locating, TLC Management Co. and Transformco.
Featured Courses Heading link
Introduction to Real Estate
- Broad overview of industry, Law and Regulation, Marketing, Management
Real Estate Market Analysis
- Using Models (and data, and history) to make predictions about RE markets
Real Estate Data Analysis
- Constructing price indices, hedonic model approach, assessments, appraisals
Despite Inventory Issues, The Real Estate Industry in Illinois Remains Robust Heading link
“Prices increased again while the number of sales remains low throughout Illinois,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate at the University of Illinois Chicago College of Business Administration. “The SHDRE forecast now indicates an increase in the number of sales over the next three months.”