Bespoke, a commercial real estate firm founded by Chicago CRE executives Victor Sanmiguel and Peter Billmeyer, recently announced it will exclusively focus the company’s efforts on serving Chicago-based privately held businesses and non-profit organizations. Traditional brokerage firms are not built to dedicate the time necessary to deliver the strategic real estate expertise these sectors need and most represent both business owners and landlords, leading to a conflict of interest.
“Bespoke was created to disrupt the way Greater Chicago’s private businesses and non-profits are served by the commercial real estate market,” explains Billmeyer. “We deeply value our long-term relationships with clients and partners and are extremely passionate about delivering strategic, cohesive and unbiased solutions that meet our clients’ top and bottom line goals. All our team members embody this service methodology—what we like to call ‘The Bespoke Way’—and we are proud to bring this high level of dedication to the underserved sectors.”
The Chicago metro area is home to 36 Fortune 500 headquarters in contrast to the hundreds of thousands of small to midsize private businesses. The majority of brokerage firms devote their resources to serving that small number of very large organizations, leaving the remaining vast number of businesses without a strategic real estate partner.
Additionally, many brokerage firms are structured to represent both the tenant and the landlord; this creates a conflict of interest that incentivizes advisors to recommend deal terms or property types, which may not be the best deal for the private business owner or non-profit organization. Bespoke does not own, manage, or lease real estate assets so the company brings a level of transparency and objectivity few firms can match.
“Every day we rescue a client from a lease that has become a burden on their business—whether the space is too expensive, there is no room to grow or it’s not conducive to recruiting the right talent. Because we know real estate should be a strategic asset, we make sure our clients get the right space at the right price and we want every dollar possible to go back into their business or their cause,” says Sanmiguel. “We are more than brokers; we are business owners who face the same challenges as our clients.”
To honor its unique methodology and positioning in the market, the company unveiled a new website, which educates clients and business partners on market trends, industry best practices and company news. The firm also recently moved locations to 444 N. Michigan Ave. to provide an office environment that speaks to their culture and highlights the importance real estate plays in attracting and retaining top talent.