Master of Science in Real Estate

Master of Science in Real Estate

At DePaul, we’ve studied and taught real estate trends for more than 90 years. In fact, we currently offer the most comprehensive array of real estate courses in Chicago, and the academic and practical qualifications of our faculty allow us to offer an unparalleled real estate education. Courses are frequently team taught by full time faculty and leading Chicago area professionals, with a strong emphasis on case discussion that links theory with pragmatic approaches to problem solving. Individuals with an M.B.A. degree or students currently enrolled in the M.B.A. program may have up to six of their M.B.A. courses count toward the requirements of the Master of Science in Real Estate degree. The exact number of courses that can be double-counted in this manner depends upon the specific coursework of each individual.

Graduates of the program will possess an array of tools with which they will be able to adapt to the evolving and inherently multi-disciplinary industry. More specifically, MS in Real Estate students will obtain:

• Financial and quantitative decision-making skills,
• Critical thinking, evaluation and analysis skills,
• Oral and written communication skills, and
• Technology and geographical information system skills.

CURRICULUM

Each candidate must be competent in financial accounting, microeconomics and calculus and statistics prior to registration for Financial Management (FIN 555). To ensure competence, students who have not completed the equivalent of Principles of Accounting I and II at the undergraduate level will be required to take Financial Accounting (ACC 500). Students who have not completed Intermediate Microeconomics at the undergraduate level will be required to take Economics for Decision Making (ECO 555). Students who do not pass a competency examination in calculus and statistics will be required to take Applied Quantitative Analysis (GSB 420).

Students complete the MS in Real Estate by taking the seven required courses and at least five elective courses from the list of courses approved for elective credit.

Required Courses

• APPLIED QUANTITATIVE ANALYSIS (GSB 420)
• LEGAL ISSUES IN REAL ESTATE (RE 521)
• FINANCIAL MANAGEMENT (FIN 555)
• REAL ESTATE INVESTMENT AND FINANCE (RE 530)
• REAL ESTATE FINANCE (RE 531)
• REAL ESTATE MARKET ANALYSIS AND VALUATION (RE 533)
• REAL ESTATE INVESTMENT (RE 535)

Elective courses: (Select 5)

Note: approved electives may have prerequisites that are not part of the M.S.R.E. curriculum. Such prerequisites will not be waived or substituted for approved electives.

• URBAN PLANNING AND PUBLIC POLICY (RE 520)
• PROJECT MANAGEMENT: BUILDING DESIGN AND CONSTRUCTION (RE 525)
• ADVANCED REAL ESTATE ANALYSIS WITH ARGUS (RE 570)
• REAL ESTATE SEMINAR (RE 596)
• URBAN AND REGIONAL ECONOMICS (ECO 550)
• MARKET ANALYSIS (MKT 529)
• METROPOLITAN PLANNING (MPS 571)
• URBAN AND COMMUNITY DEVELOPMENT (MPS 573/SOC 422)
• URBAN DEVELOPMENT POLICIES (SOC 426)
• URBAN SOCIOLOGY (SOC 420)
• URBAN ANTHROPOLOGY (SOC 421)
• SOCIOLOGY OF HOUSING (SOC 424)

The following courses are only available to students who have also been admitted to the School of Law.

• ENVIRONMENTAL LAW (LAW 444)
• REAL ESTATE FINANCE/COMMERCIAL DEVELOPMENT (LAW 459)
• LAND USE PLANNING LAW (LAW 488)

M.S.R.E. DEGREE REQUIREMENTS 1. Satisfactory completion of the college residency requirement.

2. Satisfactory completion of the seven required courses, or their substitutes as approved by the Chair of Department of Real Estate.

3. Satisfactory completion of at least five approved elective courses such that at least 48 quarter hours of applicable course work are completed toward the degree.

4. All courses for credit toward the degree must be completed within six calendar years after the candidate’s first term of enrollment in the Kellstadt Graduate School of Business. After a lapse of six years a course is expired. An expired course is not acceptable for the purpose of satisfaction of degree requirements and is not applicable to the degree without the written approval of the director of the program or the Kellstadt Graduate School of Business.

   Admission

   General Admission Requirements

   • Completed application form and application fee

Apply online. There is a $60 application fee which may be paid with a check or money order payable to DePaul University. Online applicants may pay by credit card.

• Resume/curriculum vitae

Your professional resume should summarize your work experience and educational background. Please limit it to two pages.

• Official transcripts

Students must send official transcripts from any universities, colleges or community colleges attended. A student's application for admission is considered incomplete until all transcripts are received.

• Educational Credentials For International Students or Programs

Applicants must submit transcripts from all colleges and universities attended, including those attended but from which no credit was earned. Exceptions may be permitted for study-abroad credit when that credit is clearly defined and displayed on the home institution transcript.

• Applicants with non-U.S. educational credentials are required to submit their official educational credentials (e.g., transcripts, mark sheets, degree certificates, graduation diplomas) and evaluation fee directly to one of the three evaluation companies below:

• Educational Credential Evaluators, Inc.

  • Educational Perspectives​

  • One Earth International Credential Evaluation

These evaluators will then provide DePaul with a general evaluation of their studies and certified copies of their international educational credentials which will be used during admission review. Please direct any questions about required credentials to the evaluation company you have selected and not to the Kellstadt Graduate School of Business. DePaul will not accept evaluations from any other evaluation companies and will not accept any educational credentials without an evaluation from ECE, EP or One Earth.

• English proficiency

Non-native English speakers who have not completed a bachelor's or master's degree in the United States should submit scores from a recognized English proficiency test. The Kellstadt Graduate School of Business accepts results from TOEFL, IELTS and the Pearson Test of English (PTE).

• Essay Questions

Two essay questions, contained within the admission application, are required for all applicants.

• GMAT

Applicants must submit GMAT scores. GMAT information including dates, a list of test centers, and applications for the exam may be obtained at mba.com, or by contacting Pearson VUE at (951) 681-3000. The GMAT score report must come directly from Pearson VUE. A test taken more than five years prior to the date of application is not considered valid for admission purposes and would have to be retaken.

The GMAT can be waived online the following circumstances: applicants to the MBA program who have completed a J.D., M.D. or Ph.D.

• Letters of Recommendation

Applicants are required to submit two letters of recommendation. These are best received from current or previous employers. Be sure the name of the recommender and applicant name, applicant date of birth and program being applied to of interest are noted on each form.

• Interview

The Admission Committee may require applicants to schedule an interview if necessary.

Deadlines

Applications must be submitted by:

• July 1st for the Autumn Quarter
• October 1st for the Winter Quarter
• February 1st for the Spring Quarter
• April 1st for the Summer Quarter

Applicants educated outside the United States must submit their applications one month prior to the above deadlines.

The Kellstadt Graduate School of Business is made up of 162 full-time faculty, over 135 executive adjunct faculty, numerous staff people and over 2100 students. Through these pages, we will tell you about each of these groups and the vital role they play.

Since 1912, DePaul has been providing an excellent education in business. Our mission and commitment to be a leader means we change and update our programs frequently to keep pace with the dynamics of global business. We have established a tradition of excellent service to the business community of the Chicago area. There are more than 19,000 Kellstadt alumni who are making contributions around the world.

In September 1992, the Kellstadt Trust, which established the Kellstadt Center, announced a multimillion-dollar gift to the Graduate School of Business. The School, renamed " The Charles H. Kellstadt Graduate School of Business " in 1993, is one of the first 10 business schools established in the United States. Charles Kellstadt, once CEO and chairman of Sears, Roebuck and Co., was instrumental in our ability to grow and excel. The Kellstadt Graduate School of Business is accredited by AACSB International - The Association to Advance Collegiate Schools of Business. That makes us one of only a limited percentage of U.S. business schools to be recognized by this prestigious -- and standard-setting -- organization. In addition, the part-time MBA program has been highly ranked in U.S. News & World Report's "Best Graduate Schools" for more than a decade. Academic Programs The Kellstadt Graduate School of Business offers the Master of Business Administration (MBA) and Master of Science (MS) degrees. The full-time and part-time MBA degree programs offer students a well-rounded curriculum of business administration with over 35 concentrations in the area of their choice. The full-time MBA has an accelerated component that gives you the option of completing the degree in 18 months to 2 years. The MS degree programs offer a much more intensive and focused approach.

We encourage you to review all options fully to see which program is right for you.