Midwest

In that case, bond yields are heading sharply lower, says Shilling, who has a strong track record of correct forecasts.

The firm will occupy 55,988 square feet at 224 South Michigan Ave. SOM has been a tenant in the building for nearly 28 years and will continue to occupy floors 5, 9 and 10 of the 17-story, 378,600-square-foot mixed-use office tower.

"Given the current evolution, shopping malls are going to look different over the next 20 years – likely with smaller anchor stores, more entertainment concepts and restaurants, more experiences for shoppers, and daily service providers such as gyms, grocers, medical offices and even day care providers."

"I've seen transactions of every size and shape, dealt with people good and bad, and have been through a plethora of real estate ups and downs," says Karen Case.

This is a new role for the company.

Building in the US apartment sector remains at three-decade highs, RealPage also reports—which could lead to near-term risk.