Complex problems that would be impossible to figure out or take a classical computer years to do, like optimizing portfolios worth billions or accurately predicting future tenant behavior, might be solved in a matter of minutes with a quantum computer. 

Chicago has already seen significant investment in the technology. Last year, PsiQuantum signed as the anchor tenant at the 128-acre Illinois Quantum and Microelectronics Park, which Illinois Gov. J.B. Pritzker calls a “center of innovation with the power to solve the world's most pressing and complex challenges.”

CRE is already salivating about the real estate potential. But it should be focusing just as intently on its vast computing potential for everyday business.

“You can’t even really comprehend the differences in speed,” said Jake Wright, a vice president at Chicago-based Cresa.

Read more about how real estate could use the emerging technology.

— Ryan Wangman

Clear Investment Group Raising $300M Fund: The newly announced fund will allow the company to expand its footprint and transaction volume. Read more about this deal and others in this week’s Chicago Deal Sheet. 

Dollar Tree To Offload Family Dollar For About 11% Of Its Purchase Price: Family Dollar has 65 locations in Chicago, according to its website. Read more.

FHFA Director Bill Pulte Reverses Biden Administration's Renters Bill of Rights: Federal Housing Finance Agency Director Bill Pulte issued an order rescinding the agency's policy that required providers of multifamily housing financed with mortgages backed by Fannie Mae and Freddie Mac to provide renters with a 30-day notice of a rent increase or lease term expiration. Read more.