DePaul University Kellstadt Graduate School of Business Real Estate Concentration Review

by Joe Stampone on January 13, 2010

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online drugs without prescription alt=”DePaul” width=”1″ height=”1″ />DePaul University LogoI want to thank Matt Hubert (LinkedIn), a student at DePaul University’s Kellstadt School of Business, who took the time to review the program’s concentration in real estate. Graduate level degrees in real estate are proliferating. Almost all Business Schools offer some sort of concentration in real estate, in 2010 I hope to review more B-School real estate programs.

What was your background in real estate prior to the DePaul MBA program?

I have had a broker license since 2002 and started my own residential development company in 2003 building small multi-unit buildings and single family homes on the North side of Chicago.  My goal with completing the program was to shift my focus from small residential deals to larger multi-unit and commercial projects.  I initially planned to complete the program while developing part-time before moving to a larger company, but the economy and the local condo market changed that and we closed the business last spring.

What other programs did you look at besides DePaul and why did you choose DePaul over the other programs?

Due to owning the business and family ties to Chicago, I only looked at local part-time MBA programs – Kellogg, Chicago, DePaul and Loyola.  Chicago and Loyola did not have real estate concentrations so I ruled both of them out right away.  After meeting with colleagues either currently at the time or who had recently completed the program, I choose DePaul for two main reasons: 1) Flexibility in the real estate offerings – I felt I had more options to tailor my curriculum, 2) Length of the program – I have been able to complete the entire MBA program and my RE concentration in 18 months with only one full-time quarter.

Did you consider any masters in real estate programs or did you strictly look at MBA programs?

Deciding between the MBA and the MS (or both) was something I thought about for a long time.  While researching local programs, I asked former students and professors for their opinion, and the one reason that multiple people listed and was probably the ultimate driver of my decision to initially choose an MBA – marketability and future career advancement.   A number of people I talked to felt the MBA was preferable to the MS when making hiring and promotion decisions down the line.  At DePaul, I have the flexibility to complete the MBA and use the RE courses I have already taken towards the MS degree in the future – I know of some alumni who complete the MBA and then take a class at a time over a few years to finish both.

Are the professors primarily full-time or part-time? Do the part-time professors make themselves accessible outside the classroom?

In my experience, the faculty in the RE department is a good mix of both – being in Chicago provides DePaul with the opportunity to bring in great adjunct faculty as well as guest speakers from the industry, which are an important component of almost every course in the program.  Every professor I have had so far has done a great job of making themselves easily available whether through office hours or by phone or email.

What kind of real estate opportunities does the program provide to students outside the classroom?

In addition to an active student real estate organization, the real estate department has organized a mentor program matching up current students with industry professionals based on the student’s career preferences.  The mentor program is designed to get the student 1-on-1 time with someone working in the field they plan to pursue.  The Real Estate Center also sponsors many conferences and panel discussions throughout the city and usually provides students with either free or discounted tickets, which are a great way to network and meet some of the city’s top real estate experts.

How is the programs career counseling? Do they actively help students find summer internships and full-time positions? How willing are alumni in assisting current students?

I think it is tough to judge career counseling/placement in this job environment, but the department utilizes their local connections, both alumni and others, to provide access to industry job postings.  Most students I have talked to do not use the general MBA career center and instead focus on the job listings distributed by the RE department and the networking opportunities discussed above.  I have contacted a few alumni that I found on LinkedIn and have received a positive response almost every time.  DePaul doesn’t actively place anyone – it is up to the student to take advantage of all the opportunities presented by The Real Estate Center.

What are your future aspirations in real estate and how has this program helped you to get closer to your goals?

My goal after completing the degree is work for a mid-size firm that is a developer and an owner/operator.  The wide variety of classes has allowed me to pick which classes are the best fit for my past experience and my future direction.  Professors have always been willing to provide advice about which classes are more applicable to my desired specialization.

Is there anything else about the program you think people should know?

One of the best aspects of the program is its location in Chicago, which gives students access to numerous professional organizations as well as national and regional conferences.  As we all know, networking in real estate is extremely important and DePaul, its alumni and the local events provide many opportunities to grow your network.

Rate the various aspects of the program from 1-10, 10 being the best:
Professors: 9
Curriculum: 8
Career Counseling: 7
Outside Opportunities:9

If you have any questions about the program and specifically the real estate focus, please add them to the comment section and I’ll have Matt get back to you.

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