Former Gies College of Business Dean Jeff Brown, on the Reichard Real Estate Academy: “I like to describe it as a major renovation of an existing property. We’re figuring out which pieces are strong and which ones need to be rebuilt”
When Jeff Brown stepped down as dean of the Gies College of Business at the University of Illinois Urbana-Champaign in 2024, he wasn’t sure what was next. After a yearlong sabbatical, he weighed whether to pursue another leadership role or return to the classroom.
In the end, he chose to rejoin the faculty – but not without a project that would keep him at the center of innovation on campus.
That project is the Reichard Real Estate Academy, a newly launched initiative aimed at preparing students for careers in commercial real estate. Brown, who now serves as the academy’s academic director, says the academy builds on Gies’ long tradition in the field while addressing a need for greater structure and industry engagement.
BUILDING ON A LEGACY
“For decades, if you went to Chicago, you’d find the commercial real estate industry dominated by Gies alumni,” Brown told Poets&Quants during a recent interview on the Illinois campus. Much of that legacy traces back to faculty stalwart Roger Kennedy, who mentored generations of students through the real estate club before retiring a few years ago.
Still, Brown admits the program “ebbed and flowed” over the years. That changed when faculty member Seth Briggs approached him during his deanship with a plan to reinvigorate the area. Instead of trying to compete with the small group of schools that excel in real estate research, Brown saw an opportunity to model the effort on Gies’ successful career academies in investment banking, investment management, and consulting.
The goal: a student-centric program that supplements coursework with co-curricular training, professional networking, and hands-on preparation for the job market.
A $5 MILLION BOOST
Momentum accelerated this year thanks to a $5 million gift from Illinois native and Chicago investor Nate Reichard. The funding, Brown says, gives the school the resources to transform real estate into a marquee offering.
“This isn’t going to start out huge – we may only take 10 or 12 students a year initially,” he says. “But we want to give them that extra hands-on focus so that by the time they graduate, they know the industry and are ready to be successful.”
The current year is being devoted to laying the foundation: drafting the vision and mission, designing a business plan, and beginning fundraising. Brown is also forming an alumni advisory group to provide input on skills the industry demands and to help expand internship and job-shadowing opportunities.
“I like to describe it as a major renovation of an existing property,” Brown says. “We’re figuring out which pieces are strong and which ones need to be rebuilt.”
RETURN TO TEACHING
Alongside his leadership of the new academy, Brown is also returning to teaching in Gies’ online MBA. This fall, he is co-teaching economics with a longtime colleague and experimenting with live virtual sessions.
“For years as dean, I was talking about how much we were investing in online,” he says. “Now I get to dive in and find out what it’s really like – and I’ve been amazed by the support system we have in place.”
A DEAN’S PERSPECTIVE ON SUCCESSION
Brown is quick to credit his successor, Dean Brooke Elliott, with accelerating the school’s momentum. In her first year, she oversaw the opening of Gies’ new building, expanded undergraduate enrollment beyond projections, and delivered the largest fundraising year in the school’s history outside of two record-setting mega-gifts.
“She’s incredible,” Brown says. “I thought I was a high-energy guy, but she makes me look like a sloth. She knows this place, she loves it, and she’s fully bought into the mission. I don’t think we missed a step – if anything, she’s increased the pace.”
LOOKING AHEAD
For Brown, the Reichard Real Estate Academy represents both a continuation of Gies’ strengths and a new chapter in his own career. After years in leadership, he’s back where he started: building programs, teaching students, and reconnecting with alumni.
“I thought this would be fun,” he says. “I could parachute in, get it set up, structure the leadership, and then move on to other projects. It’s a chance to really leave something in place that will prepare students to thrive in an important industry.”
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