Green is moving from the fringe to the
foundation of the real estate business. As the concept becomes more mainstream so have the tools.
“Until recently, there were not as many
resources available to help business owners choose green products and services for
their real estate and operational needs,”
says Amy Mahone, associate in the Real
Estate Practice Group at Levenfeld
Pearlstein, LLC. “But now there are many
new products and services on the market to
help business owners go green and there
are great improvements in sustainable
materials.”
Smart Business learned from Mahone
about ideas and resources for going green
in the Chicago area.
Why should business owners go green
today?
The time to jump on the green bandwagon
is now. Within a few years, green will not
just be ‘in,’ it will be required by cities
nationwide, including Chicago. Already in
Chicago all renovated City buildings must
be certified under LEED, and new City
buildings must achieve at least a LEED
Silver rating. Even without achieving LEED
status, there are many changes a small business owner can make with respect to
Energy Star appliances, conservation, recycling and using green products that can
make a difference both to the bottom line of
a business and to the environment. Due to
the innovation in green options, the United
States Green Building Council (USGBC)
recently estimated that going green only
increased expenses by 2 percent, but saved
at least 25 to 30 percent in energy costs.
What are some of the ways to develop environmentally conscious buildings?
There are a multitude of opportunities to
increase the green factor in buildings.
These include:
Sustainable site development: Location, layout and features of real estate, including locating a building near public transportation, creating space for bicycle storage
and changing rooms, and providing priority
parking for hybrid cars and carpools;
Water efficiency: Potable water use
reduction in sewage by choosing water-conserving fixtures and decreasing use
inside the building;
Energy conservation: Using Energy
Star-certified products, replacing fluorescent lamps with incandescent light bulbs
(saves close to 75 percent in electricity
costs) and installing skylights;
Green roofs: A green roof is one that is
either partially or completely covered with
vegetation and soil or another type of
growing medium, planted over a waterproofing roof membrane. This design
greatly reduces stormwater runoff, urban
heat island effect and energy requirements,
and makes Chicago small businesses eligible for $5,000 grants and density bonuses;
Indoor air quality: Healthier, less-polluting products, such as paints and carpets
with low volatile organics, windows that
open, and natural ventilation systems.
What Chicago project incorporates many
green strategies?
The Merchandise Mart in Chicago is the
world’s largest green commercial building
and achieved a LEED Silver certification by completing several actions. According to
the Mart’s Web site, it ‘installed motion sensors in restrooms and lower wattage fixtures wherever possible, made an I-Go
hybrid car available to tenants and employees 24 hours a day, retrofitted exit lights to
require less energy, and implemented an
exterior and dock lighting schedule.’ The
Mart has also cut water consumption by 35
percent, or roughly 20 million gallons, since
2001 by fixing leaks and reusing nondrinking water, and reduced air pollution by more
than 120,000 kilograms since 2006, the
largest single reduction by any commercial
building, according to company officials.
What are some government initiatives to
support green building?
- The Illinois Solar Energy Rebate
Program allows certain businesses to
claim a rebate of up to $10,000 for solar
energy systems purchased or installed
after Jan. 1, 2007. - The Illinois Solar Thermal Incentive
program provides funding for the purchase
and installation of solar energy systems
that collect and transfer heat for space
heating and cooling and water heating and
electric generation, as long as the project
cost is in excess of $50,000. - The Federal Energy Policy Act of 2005
provides a tax deduction of up to $1.80 per
square foot for new commercial buildings
that reduce energy use by 50 percent.
Existing buildings can earn a deduction of
$1.20 per square foot for upgrading lighting
and HVAC systems. - The EPA offers small businesses
grants for monitoring and control of air
pollution, safe buildings and water security, wastewater management, etc. - The Chicago Green Permit Program
expedites permits on projects that incorporate innovative green building strategies. - The Chicago Green Roof Grants award
grants of up to $5,000 to help with the cost
of installing a green roof. The Chicago Cool
Roof Grants offer rebates based on the
amount of surface area and the coating
used.
AMY MAHONE is an associate in the Real Estate Practice Group at Levenfeld Pearlstein, LLC and a member of the firm’s Green
Development Initiative. Reach her at [email protected] or (312) 476-7591.
