I am Rob Palley, co-founder of Granite Realty Partners, a Chicago-based real estate development and investment firm. Founded in 1998, our firm has been involved in close to $1 billion in real estate transactions across the spectrum of real estate opportunities. I am an avid pickleball player and am about to embark into the world of pickleball club ownership, in partnership and led by the owner of Chicago’s most successful indoor pickleball club. Pickleball has exploded from a

As a long time real estate developer and investor, we have often seen lenders struggle with the decision to write down a loan or lower the rate to help fix a problem deal. At Granite Realty Partners, a Chicago-based real estate firm co founded and led by Rob Palley, we have been on the borrower side in this decision and we have been active purchasers of debt.In commercial real estate lending, distressed loans inevitably force lenders to make difficult decisions. When a borro

For more than a decade after the 2008 Global Financial Crisis, commercial real estate investors operated in an environment defined by unusually low interest rates. Cheap debt fueled acquisitions, development, and aggressive pricing across nearly every property type. That era has now ended. Since 2022, the Federal Reserve’s campaign to combat inflation has sharply increased borrowing costs, forcing a major reset across real estate capital markets and changing how investors, le

We are pleased to unveil the new Park West Plaza in Homewood, Illinois. While this is a small shopping center of only 12,000 square feet, it sits right near the important intersection of Kedzie and 183rd Street in Homewood, Illinois, and has served residents with important local stores for over 50 years. We purchased this center from the Village of Homewood, which obtained ownership through a Cook County program allowing municipal ownership of properties with delinquent real

Intricacies of converting a condominium