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Photo of McMillen, Daniel

Daniel McMillen

Professor and Associate Dean for Faculty Affairs

Stuart Handler Department of Real Estate


Building & Room:

UH 2233


601 S. Morgan St., Chicago, IL 60607

Office Phone:

(312) 355-9490

CV Link:

Daniel McMillen


Daniel McMillen is Professor of Finance at the University of Illinois at Chicago. He served as co-editor of Regional Science and Urban Economics from 2007 – 2017, and as President of the American Real Estate and Urban Economics Association in 2017. Since receiving his Ph.D. in economics from Northwestern University in 1987, he has been a member of the economics departments at the University of Oregon, Santa Clara University, Tulane University, and the Chicago and Urbana-Champaign campuses of the University of Illinois. He has published widely in real estate, urban economics, housing economics, and related fields. He is a Fellow of the Homer Hoyt Institute and a faculty member of the Homer Hoyt Weimer School, a consultant in the Regional Analysis group at the Federal Reserve Bank of Chicago, and a Distinguished Fellow at the Lincoln Institute of Land Policy.

Selected Publications

“House Prices and School Choice:  Evidence from Chicago’s Magnet Schools Proximity Lottery,” Journal of Regional Science 60 (2020), 33-55, with Leonardo Bonilla- Mejía and Esteban Lopez.

“Do More Eyes on the Street Reduce Crime?  Evidence from Chicago’s Safe Passage Program,” Journal of Urban Economics 110 (March 2019), 1-25 with Ignacio Sarmiento Barbieri and
Ruchi Singh.
“Tall Buildings and Land Values:  Height and Construction Cost Elasticities in Chicago, 1870-2010,” Review of Economics and Statistics 100:5 (2018), 871-875, with Gabriel Ahlfeldt.
“Conditionally Parametric Quantile Regression for Spatial Data:  An Analysis of Land Values in Early Nineteenth Century Chicago,” Regional Science and Urban Economics 55 (2015), 28-38.
“Option Value and the Price of Teardown Properties,” Journal of Urban Economics, 74 (2013), 107-129, with Arthur O’Sullivan.

“Repeat Sales as a Matching Estimator,” Real Estate Economics 40 (2012), 743-771.

“Private Residential Price Indices in Singapore:  A Matching Approach,” Regional Science and Urban Economics 42 (May 2012), 485-494, with Yongheng Deng and Tien Foo Sing.

Publication Aggregators

Professional Leadership

Board of Directors, American Real Estate and Urban Economics Association

President, American Real Estate and Urban Economics Association (2017)

Co-Editor, Regional Science and Urban Economics (August 2007 – December 2017)

Notable Honors

2019, Walter Isard Award for Scholarly Achievement, Regional Science Association

2019 - present, Faculty Fellow, Homer Hoyt Weimer School

2008, Fellows Award, Regional Science Association International


Ph.D. Economics, Northwestern University, 1987
M.A. Economics, University of Illinois at Chicago, 1982
B.S. Economics, University of Illinois at Chicago, 1981