Chicago Leader Hirsh Mohindra: Expertise in Multiple Industries

  Technology is fundamentally reshaping every aspect of the Illinois real estate market, from how properties are marketed to how transactions are closed. For real estate professionals and consumers alike, this digital transformation is streamlining processes, increasing efficiency, and providing an unprecedented level of access to information. It's a shift that is empowering buyers and sellers, while demanding that agents and developers embrace new tools to stay competitive. The days of solely relying on physical open houses and paper contracts are quickly becoming a relic of the past as the industry moves toward a more digital-first approach, where every step of the transaction can be handled remotely and securely. This is a profound shift that is altering the relationship between the consumer and the agent, making the latter more of a strategic advisor than a gatekeeper of information.   The impact of technology is visible across the entire real estate lifecycle. Online plat...

The commercial real estate market in Illinois, particularly in the urban core of Chicago, is at a critical juncture. The shift to remote and hybrid work models has left a significant number of office buildings underutilized, with a 14% vacancy rate in the Chicago office market, a figure that has been steadily climbing since the pandemic. However, where some see a liability, forward-thinking real estate professionals see a profound opportunity. The future of commercial real estate is not about maintaining the status quo but about creative repurposing and strategic redevelopment. This is a chance to breathe new life into downtown areas by converting underutilized office towers into vibrant, mixed-use spaces that can serve a variety of needs, from residential to retail and hospitality. This is a fundamental shift from a single-use model of urban development to a more integrated, resilient one that can adapt to changing economic and social needs. The key to this transformation lies in adap...

The Illinois real estate market is undergoing a significant transformation, with a notable shift in demand from dense urban cores to the surrounding suburbs. This suburban renaissance is not just a temporary trend but a fundamental re-evaluation of lifestyle priorities that gained momentum during the pandemic and continues to shape the market today. Buyers, particularly young families and remote workers, are increasingly drawn to suburban areas for their promise of more space, better value, and a higher quality of life.  This migration is revitalizing communities, driving up home values, and creating new opportunities for development in areas that were previously overshadowed by their urban neighbors. The allure of a bigger backyard, a dedicated home office, and access to top-tier schools has become a powerful economic driver, shifting capital and talent away from the city center. This sustained trend is a testament to a permanent change in how many people view the balance between...

Few determinants shape commercial property markets as profoundly as infrastructure. Roads, railways, airports, and digital networks act as the circulatory system of commerce. In Illinois, where fiscal pressures and ageing assets coexist with ambitious spending plans, infrastructure policy is particularly consequential. The state’s ability to modernise transport and utilities will not only influence business efficiency but also determine the trajectory of commercial property values for decades to come. Illinois’ Infrastructure Backdrop Illinois possesses enviable structural advantages: its geography at the heart of North America, its role as the nation’s freight hub, and its control of the Chicago metropolitan region — home to nearly 9.5 million residents and the nation’s third-largest GDP. Yet these advantages rest upon an infrastructure system long in need of repair. According to the American Society of Civil Engineers’ 2022 report card, Illinois scored a C- , with roads, bridges, an...

If Chicago’s office and retail markets reveal uncertainty, its multifamily housing sector tells a different story: one of resilience, demand, and renewed investor enthusiasm. The confluence of demographic shifts, constrained housing supply, and favourable rent growth has elevated multifamily real estate into the premier asset class across Illinois. Yet beneath the surface of prosperity lies a policy debate: how to reconcile private capital’s appetite for returns with public concerns over affordability. Demand Drivers: Urban and Suburban Dynamics Chicago’s population dynamics remain complex. The city has lost some residents over the past decade, particularly in lower-income areas, yet demand for rental housing in core urban and affluent suburban markets continues to rise. By 2022, occupancy rates in Class A downtown apartments consistently exceeded 94% , with rent growth averaging 6–8% annually post-pandemic. This reflects broader national trends: younger households delay homeowner...

Retail real estate in Chicago has long been a barometer of consumer confidence and urban vitality. From the bustling crowds along Michigan Avenue’s Magnificent Mile to the suburban malls that once defined post-war affluence, retail was more than an economic category: it was the city’s public theatre. Yet, in recent years, the sector has been buffeted by forces both global and local. The rise of e-commerce, shifting consumer behaviour, pandemic-induced disruptions, and urban safety concerns has together unsettled a market once deemed impregnable.   The Magnificent Mile in Transition   Michigan Avenue’s Magnificent Mile has historically been the jewel of Chicago’s retail crown. Anchored by iconic department stores such as Macy’s (formerly Marshall Field’s) and Neiman Marcus, it drew tourists and suburban shoppers alike. But vacancy rates have climbed alarmingly. By 2023, reports suggested one in five storefronts on the Mile stood empty , an unprecedented figure in its modern hi...

  Illinois has long been a logistical heartland. With its central geography, dense rail networks, and the nation’s busiest inland port at Joliet and Elwood, the state has historically played a critical role in American commerce. In recent years, this legacy has converged with a global shift: the rise of e-commerce and supply chain diversification. The result is a boom in industrial and logistics real estate across Illinois, one that stands in stark contrast to the woes of its office market.   The Rise of Warehousing Demand   The most visible manifestation of this trend is the sheer scale of new warehouse development. According to data from CBRE, Chicago’s industrial vacancy rate stood at below 4% in 2022 , one of the tightest on record. Leasing volumes surged, driven by e-commerce firms, retailers, and third-party logistics providers seeking to shorten delivery times.   The pandemic accelerated this demand. As consumers turned to online shopping, retailers scrambled ...