City Colleges of Chicago, in partnership with the Building Owners and Managers Association (BOMA) of Chicago, is launching a new program designed to create a direct pathway into the commercial real estate industry. The initiative features a continuing education course in property management and an associated apprenticeship program, with informational sessions now open for registration.
Key Takeaways
- City Colleges of Chicago and BOMA Chicago have partnered on a new workforce development initiative.
- The program includes a continuing education course focused on commercial real estate property management.
- Participants can learn about an apprenticeship program that offers on-the-job training.
- Four informational sessions are available for prospective students to learn more and register.
New Initiative Addresses Industry Demand
The collaboration between the educational institution and the prominent industry association aims to address a growing need for skilled professionals in the commercial real estate sector. As the landscape of commercial properties evolves, so does the demand for qualified managers who can handle the complexities of modern buildings.
Property management is a critical function that ensures commercial assets operate efficiently and retain their value. The role involves overseeing everything from tenant relations and lease administration to financial reporting and building maintenance. This new program is structured to provide foundational knowledge and practical skills required to succeed in this dynamic field.
Understanding the Key Organizations
City Colleges of Chicago (CCC) is the largest community college system in Illinois, serving thousands of students across seven colleges. It focuses on providing accessible education and workforce development programs. BOMA Chicago is a trade association representing the interests of the commercial real estate industry, including owners, managers, and developers of office buildings in the Chicago metropolitan area.
Exploring the Continuing Education Course
The centerpiece of this initiative is the Continuing Education (CE) Course in Commercial Real Estate Property Management. While specific curriculum details will be covered in the information sessions, such programs typically provide a comprehensive overview of the industry's core principles.
Participants can expect to learn the fundamentals of managing commercial properties, which is a multifaceted career. The course is designed to build a strong base of knowledge for individuals who are new to the industry or seeking to formalize their existing experience.
Potential Areas of Study
Based on industry standards, the curriculum will likely cover several key domains essential for a career in property management. These areas ensure that graduates are well-prepared for the daily challenges of the job.
- Building Operations and Maintenance: Understanding the physical aspects of a property, including HVAC systems, security, and preventative maintenance schedules.
- Tenant Relations and Retention: Developing skills for effective communication with tenants, addressing concerns, and implementing strategies to retain them.
- Financial Management: Learning about budgeting, financial reporting, rent collection, and managing operating expenses.
- Lease Administration: Gaining knowledge of lease agreements, negotiations, and ensuring compliance with legal terms.
- Risk Management and Safety: Understanding how to identify potential risks, implement safety protocols, and ensure the property adheres to all regulations.
The Property Management Market
According to market analysis, the global property management market was valued at over $22 billion in recent years and is projected to grow significantly. The U.S. Bureau of Labor Statistics projects steady growth in employment for property, real estate, and community association managers, with thousands of new job openings expected annually.
The BOMA Chicago Apprenticeship Advantage
A significant component of this initiative is the BOMA Chicago Apprenticeship Program. This element provides a unique opportunity for students to complement their classroom education with paid, on-the-job training. Apprenticeships are a proven model for workforce development, allowing participants to earn an income while gaining invaluable real-world experience.
Working under the guidance of experienced professionals, apprentices can apply their knowledge in a practical setting. This hands-on approach not only deepens their understanding but also helps them build a professional network within Chicago's real estate community, which can be crucial for long-term career success.
The partnership with BOMA Chicago gives the program significant credibility and access to a vast network of potential employers. Graduates who complete both the course and the apprenticeship will be positioned as highly competitive candidates in the job market.
Who Should Consider This Program?
The information sessions are designed for a diverse audience of individuals interested in starting or advancing a career in commercial real estate. The program is particularly well-suited for several groups.
- Career Changers: Professionals from other industries who are looking for a stable and rewarding new career path will find this program an excellent entry point.
- Recent Graduates: High school or college graduates seeking a practical, skills-based education that leads directly to employment opportunities.
- Aspiring Real Estate Professionals: Individuals interested in real estate but unsure of which specialization to pursue can explore the operational side of the industry.
- Administrative Staff: Those already working in real estate in administrative roles who wish to advance into management positions.
The program's structure offers a low-barrier entry into a professional field that values practical skills and industry-specific knowledge.
How to Learn More and Register
To provide comprehensive details about the course and the apprenticeship, BOMA Chicago and City Colleges of Chicago are hosting four separate information sessions. Prospective attendees are asked to register for only one of the available dates to ensure space for everyone interested.
These sessions are the primary opportunity for individuals to ask questions, understand the program structure, learn about potential career outcomes, and begin the enrollment process. It is a critical first step for anyone considering this career path.
"Learn the fundamentals of the industry and explore how the BOMA Chicago Apprenticeship Program can help you launch your career." - Official Announcement
Attending an information session is strongly recommended for anyone seeking to enter the field of commercial property management. For specific questions about the program or the information sessions, interested parties can make inquiries via email.
Questions can be directed to [email protected] for further clarification on registration, program content, or scheduling.
