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Fogelson Forum on Real Esate at Roosevelt University Chicago


May 5th Forum
speaker is National Real Estate Leader for Deloitte & Touche LLP, Robert T. O’Brien, Partner and Vice Chairman



Chicago panoramic photos courtesy of Doug Fogelson



 

 

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Louis D. D’Angelo
President
Metropolitan Properties of Chicago LLC

Louis D. D’Angelo founded Metropolitan Properties of Chicago in 1991 when he assumed leadership of his family’s real estate holdings: Britannica Centre, at 310 South Michigan Avenue; the 318 South Michigan Avenue Building; and the 33 East Congress Parkway Building. During a nation-wide market crisis, he created and implemented a successful strategy to stabilize the significantly over-leveraged real estate assets by negotiating with five mortgagees whose total debt exceeded $70 million. Ultimately, together with the efforts of his family and advisors, he accomplished restructurings that allowed the D’Angelo family to maintain ownership and control of their properties.

For over a decade, Mr. D’Angelo has envisioned Michigan Avenue area surrounding Grant Park as a vibrant 24hour/ 7day a week environment - filled with office workers, residents, tourists, and students. Metropolitan Properties earned its reputation as a visionary leader, capable of executing complex developments with the 1996 acquisition and redevelopment of the McCormick Building located at 332 South Michigan Avenue. The 20 story, 474,000 net rentable square foot vintage property, was successfully redeveloped to introduce 78 luxury residential condominiums on the upper six floors and parking. This challenging adaptive, mixed-use development has since proven to be a catalyst for other developments surrounding the park.

Metropolitan Properties in 1998 was selected to form the precedent-setting consortium to acquire and develop the City-owned Congress Parkway and State Street site because of Mr. D’Angelo’s knowledge of the South Loop market, his involvement with the educational institutions, and his understanding of the nuanced governmental issues confronting a project. The project opened in August 2004 and is known as The University Center of Chicago.

Metropolitan Properties is continuing its efforts to pursue promising niche development and investment opportunities. Currently, Metropolitan Properties is once again maximizing values of vintage properties - 310 & 318 South Michigan Avenue - by identifying the highest and best use. These former office properties fronting the park are being fully converted into 248 luxury residential condominiums.

In addition to providing attractive returns to equity investors, the redevelopment will: ensure that these historic treasures will become economically viable, thus allowing them to be preserved; attract more residents to this up-and-coming neighborhood, and, increase much needed real estate tax revenues to the government.

Prior to founding Metropolitan Properties, Mr. D'Angelo attended The University of Chicago Law School, from which he received his Jurist Doctor degree in 1991. He remains active with his alma mater, serving on the Visiting Committee and Entrepreneurial Committee of the law school, as well as a volunteer with the school’s “Lawyer as Negotiator” program and as a guest lecturer about architecture in the University’s undergraduate program.

Previously, Mr. D'Angelo was employed in the New York office of Goldman Sachs & Company from 1986-88 as a financial analyst in the Mortgage Securities Research Department. Mr. D'Angelo analyzed and collected data regarding Collateral Mortgage Obligations (CMOs) and other mortgage pass-through and asset-backed instruments. This information was disseminated to company clients and traders via weekly and monthly publications, which he coordinated.

Mr. D’Angelo earned his Bachelor of Arts degree in 1985 at The George Washington University, in Washington, D.C. A history major, he interned at the National Trust for Historic Preservation while attending college.

Mr. D'Angelo is licensed attorney and real estate broker in the State of Illinois. Born and raised in the Chicago area, he has a deep concern for civic issues. Mr. D’Angelo is the chairman of the Chicago Loop Alliance; a member of the Board of Directors and chairman of the Facilities Committee of the Hyde Park Arts Center, where he is heading an effort to acquire and redevelop a new home for the arts center (occupancy April 2006); a member of the Board of Directors of the Michigan Avenue Streetscape Association; a member of the Executive Committee of the Chicago School of Real Estate of Roosevelt University; a member of the Board of Directors of the Grant Park Conservancy; a member of the Urban Land Institute (ULI); and, a member of the Building Owners and Managers Association of Chicago (BOMA).



 

   
 
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