| Did I happen to mention I love Real Estate | | | | search of quality of life amenities for its residents. |
| Developers? Not like I love my wife or my kids, or | | | | It was a match made in heaven. |
| even my dog, but Real Estate Developers are | | | | By the time I was called in as lead development |
| definitely among my favorite people. | | | | counsel, Sears and Ryan had already negotiated a |
| Think about it. | | | | Memorandum of Understanding with the Village of |
| Real Estate Developers are like Gods. [Well, miniature | | | | Hoffman Estates setting forth a basic framework for |
| gods, at least.] They create much of the physical | | | | the new Sears Centre Arena, including general terms |
| world we inhabit. The homes and condominiums we | | | | for municipal financing. |
| live in. The grocery store and pharmacy down the | | | | A major tenant for the new Sears Centre Arena is a |
| street. The resorts and casinos and golf courses we | | | | professional hockey team. A key development |
| enjoy for leisure. Restaurants. Shopping centers. | | | | objective was to have the 11,000 capacity, 240,000 |
| Office buildings. Movie theaters. Truck terminals. | | | | square foot arena built and ready for occupancy in |
| Medical and surgical centers. Spas. Factories. | | | | time for the Fall 2006 hockey season. It was already |
| Warehouses. Auditoriums. Parking garages. Hotels. | | | | April 2005, only 18 months from the target opening |
| You name it; if its "man-made", attached to dirt, and | | | | date. Even the most accelerated construction |
| we can get inside it, a Real Estate Developer was | | | | schedule required a minimum of 14 months from |
| probably involved. | | | | groundbreaking to opening. Time was running out. |
| Real Estate Developers are visionaries. They have | | | | In the 100 day rush that followed, the entire |
| the vision to recognize trends and the need for | | | | development team entered a zone and worked |
| change. They recognize imbalances between what | | | | nearly around the clock with the Village of Hoffman |
| exists and what is needed. They see neighborhoods | | | | Estates. |
| and towns and regions in flux as opportunities for | | | | The Real Estate Developer, Ryan Companies US, Inc., |
| renewal and improvement. Not only do Real Estate | | | | working closely with the real estate department at |
| Developers see opportunity, they seize it. They | | | | Sears, Roebuck and Co., negotiated agreements, |
| envision change and commit to it. Then work with it; | | | | confronted issues and overcame obstacles to obtain |
| massage it; shape it; squeeze it; stir it; shake it; blend | | | | formal development approval, finalized municipal |
| it; juggle it; and make it happen. | | | | financing, formalized the naming rights agreement and |
| How could anyone not love that? | | | | ownership agreements, and accommodated project |
| Real Estate Developers are visionaries with a | | | | dissenters who were threatening litigation to delay or |
| purpose. Visionaries who know how to transform | | | | stop the arena from being built. |
| their vision into reality. They are optimists. They are | | | | In the end, it was creativity, perseverance and |
| dreamers and doers wrapped into one. And for me, | | | | intense focus that led to the official groundbreaking |
| they are fun. Not funny, necessarily, but fun to be | | | | for Sears Centre Arena on July 21, 2005. It is a |
| around. Fun to work with. Fun to dream with. | | | | unique sports and entertainment facility that will |
| I remember back in 1992 when John L. Marks of | | | | serve the Village of Hoffman Estates and neighboring |
| Mark IV Realty Group walked into my office and said | | | | towns for decades to come. It is already serving as |
| he wanted to buy and redevelop the Marina City | | | | an economic engine for complementary development |
| Commercial Complex in downtown Chicago. At the | | | | that will provide new jobs, new opportunities and a |
| time, the Marina City Commercial Complex was a rat | | | | broadened tax base. |
| hole. Largely vacant. In foreclosure. Languishing in | | | | These two examples of creative development by |
| bankruptcy. Burdened with nearly $10,000,000 in | | | | visionary Real Estate Developers are not unique. |
| unpaid and delinquent real estate taxes. Physically | | | | Between these two notable examples, and beyond, |
| decaying and needing tens of millions of dollars in | | | | the scenario plays out over and over again in large |
| repairs. The residential condominium owners | | | | and small development projects every day. |
| occupying the top 40 floors of the two landmark | | | | Renewal of functionally obsolete or declining shopping |
| corn cob shaped towers were understandably hostile | | | | centers, warehouses and other structures into |
| and uncooperative - having been burned in the past | | | | modern and thriving enterprises. |
| by broken promises of prior owners. | | | | Resurrection of blighted and decaying areas in cities |
| Yet, in all of this mess, John saw opportunity. He had | | | | and towns into homes and condominiums with retail |
| a vision that this dilapidated, decaying behemoth of | | | | and service businesses to support new |
| an eyesore could be transformed into an | | | | neighborhoods. |
| economically viable and thriving jewel. | | | | Recycling of contaminated brownfields into safe and |
| We spent most of the next four years working on | | | | productive environments for consumers and business. |
| that project. The transformation was remarkable. We | | | | Greenfield developments to provide new |
| had a blast making it happen. | | | | opportunities, new jobs and new services for |
| Today, the Marina City Commercial Complex is home | | | | emerging communities and families. |
| to the House of Blues, the House of Blues Hotel, | | | | Real Estate Developers are seeing a need, stepping |
| Smith and Wollensky Steak House, Bin 36 Wine | | | | up to the challenge and improving the world in which |
| Café, Crunch Fitness, 10 Pin Bowling Lounge, | | | | we live. |
| Marina Management, Skipper Bud's Marina, and | | | | I have been blessed to work with some amazingly |
| numerous other thriving businesses. The pie-shaped | | | | creative and dedicated Real Estate Developers, both |
| condominiums starting above the 20 story parking | | | | large and small, who are making a difference - and a |
| garage in each of the residential towers have risen | | | | profit - while having fun in the process. |
| substantially in value and offer some of the most | | | | Did I say fun? Maybe not during every moment while |
| dramatic skyline views in Chicago. The entire Marina | | | | facing every challenge, but by and large Real Estate |
| City complex has been reestablished as a thriving | | | | Developers are people who genuinely enjoy what |
| mixed-use and entertainment mecca in the heart of | | | | they are doing. As a commercial real estate attorney, |
| Chicago. | | | | working with Real Estate Developers has always |
| Why? Because Chicago Real Estate Developer John L. | | | | been, for me, exhilarating. |
| Marks had the vision and commitment to make it | | | | Why do I love Real Estate Developers? Ask yourself: |
| happen. | | | | How many times do you have the opportunity to |
| Did I mention I love Real Estate Developers? | | | | work with people who make your job "exhilarating"? |
| More recently, in the Spring of 2005, I got the call to | | | | What's not to love about that? |
| join the development team of Madkatstep | | | | So, the next time you meet a Real Estate |
| Entertainment LLC. | | | | Developer, please, grab the developer's hand, look |
| Madkatstep Entertainment is a combined venture of | | | | him or her directly in the eye and say with deepest |
| Sears, Roebuck and Co., the retailing giant, and Ryan | | | | gratitude and sincerity: |
| Companies US, Inc., a remarkably creative and | | | | "Thank you! My friend Kymn Harp thinks you are the |
| entrepreneurial Real Estate Developer based in | | | | most wonderful person in the world. He loves you |
| Minneapolis, Minnesota. [Yes, I love Ryan Companies | | | | and thinks you are brilliant." [Then slip him my |
| too.] | | | | business card and ask him to call me.] |
| It started with an idea. | | | | Thanks for listening. |
| Ryan Companies had the notion to build and own a | | | | R. Kymn Harp |
| sports and entertainment venue in an affluent | | | | P.S. For those of you with "normal" names - or at |
| community in need of convenient and unique | | | | least conventional name spellings, you may appreciate |
| entertainment options. | | | | this assist: |
| Sears had moved its corporate headquarters to | | | | My name "Kymn" is a family name and is pronounced |
| Hoffman Estates, Illinois in the early 1990s. As part of | | | | "Kim". Think of "Kymn" as being like a "church hymn", |
| that move, Sears had acquired a large tract of | | | | with a "K" instead of an "H". To remember this, |
| adjacent land that was ready and available for | | | | associate my last name "Harp" with "Angels". Then, if |
| development. | | | | it helps, think of me as "Kymn Harp, the Real Estate |
| Hoffman Estates is a forward looking community in a | | | | Developer's dirt-angel" (with a law degree). |
| growing and affluent region northwest of Chicago in | | | | |