Commercial real estate veteran Robert Palley is a partner at Granite Realty Partners LLC in Chicago. He co-founded the company in November 1998, and is in charge of evaluating real estate opportunities and managing subsequent developments. In his 26 years with the company, Robert Palley has undertaken over $1 billion in real estate development projects and acquisitions. He has completed industrial buildings, office buildings, shopping centers, and condominiums.
Prior to Granite Realty Partners LLC, Robert Palley was vice president and principal at Jupiter Realty Corporation, also in Chicago. He spent six years with the company managing the development of major retail centers. He developed more than 1 million square feet of retail space in areas such as Woodridge and Burbank, Illinois, and Racine, Wisconsin.
Earlier in his career, Robert Palley was the vice president of The Levy Organization. There, he completed the acquisition, financing, and development of over $200 million in commercial real estate.
Away from real estate, Robert Palley is engaged in his Chicago community. He was a board member of the Community Chest of Oak Park and River Forest. He is also a member of Oak Park Country Club and Oak Park Temple. He is an alumnus of Northwestern University, and in his free time he enjoys reading, traveling, skiing, and playing tennis.
What is your typical day, and how do you make it productive?
My day consistently begins with a healthy breakfast to fuel both body and mind, ensuring I have the energy for demanding cognitive tasks. I deliberately integrate physical activity into my workday, often by taking walking meetings or using a standing desk, which helps maintain focus and creativity. This disciplined approach to wellness is non-negotiable for me, as it directly enhances my productivity and problem-solving capabilities in the fast-paced fields of AI and data science.
How do you bring ideas to life?
I bring ideas to life by actively seeking out and collaborating with intelligent, trusted colleagues whose opinions I value. This process of “bouncing ideas” off others helps me refine raw concepts, identify potential flaws, and uncover new angles I hadn’t considered. This collaborative vetting is a crucial step that transforms abstract ideas into robust, actionable strategies for my projects.
What’s one trend that excites you?
The most exciting trend I see is the rapid evolution of artificial intelligence, particularly in generative AI and large language models. This technology is moving beyond simple automation to become a creative and strategic partner, capable of augmenting human intelligence. Its potential to revolutionize problem-solving in fields like data science and strategic consulting is truly transformative.
What is one habit that helps you be productive?
The most crucial habit for my productivity is maintaining a highly organized workflow, both digitally and mentally. I rely on systematic approaches to manage projects, prioritize tasks, and keep track of complex information, which is essential in data-driven work. This discipline prevents overwhelm and ensures that I can channel my energy into creative problem-solving and execution, rather than wasting it on searching for things or deciding what to do next.
What advice would you give your younger self?
I would advise my younger self to make a conscious effort to listen more than I speak. Actively listening to others, especially those with different expertise, is how you absorb crucial insights and truly understand complex problems. This habit not only accelerates learning but also builds stronger, more collaborative relationships, which are the foundation of success in any field.
Tell us something you believe almost nobody agrees with you on?
While I fundamentally believe in the power of consensus-building, a view that might be unconventional is that true innovation often requires temporarily stepping away from the pursuit of total agreement. The drive for consensus can sometimes dilute bold ideas too early in their development. Therefore, I believe in strategically protecting nascent, unconventional ideas before introducing them to the collaborative process for refinement.
What is the one thing you repeatedly do and recommend everyone else do?
I consistently practice and highly recommend embracing a healthy amount of self-deprecation. Being able to laugh at your own mistakes doesn’t diminish your expertise; instead, it builds genuine rapport and makes you more approachable to colleagues and clients. This habit fosters a collaborative and psychologically safe environment where teams can innovate and solve problems without the fear of judgment.
When you feel overwhelmed or unfocused, what do you do?
I’ll be honest, my initial reaction to feeling overwhelmed is often to procrastinate by diving into a completely different, low-stakes task. However, I’ve learned to use this impulse productively by tackling a small, manageable item from my to-do list. This “productive procrastination” creates a sense of accomplishment, breaks the cycle of anxiety, and builds the momentum needed to tackle the larger, more daunting project.
What is one strategy that has helped you grow your business or advance in your career?
A key strategy that has driven my success is a disciplined approach to thinking outside the box, specifically by targeting the most challenging part of any project or deal first. I focus all my creative energy on solving that one seemingly insurmountable problem, which often requires unconventional solutions. Once that core obstacle is removed, the remaining tasks become significantly more straightforward and easier to execute, clearing the path for growth.
What is one failure in your career, how did you overcome it, and what lessons did you take away from it?
Early in my career, a significant real estate deal failed due to unforeseen market shifts, which was a substantial professional setback. The only path forward was complete transparency; I proactively communicated the situation to all lenders and investors to collaboratively develop a recovery plan. This experience taught me that while you can’t control every outcome, your integrity in handling a crisis is paramount, and it forged a long-term philosophy of radical honesty and proactive problem-solving.
What is one business idea you’re willing to give away to our readers?
One compelling but challenging business idea is condominium deconversion, which involves purchasing an entire condominium building from individual owners to convert it back into a unified rental property. This strategy capitalizes on the arbitrage between the collective sales price of individual units and the building’s higher value as a single, income-generating asset. While the potential returns are significant, it requires immense capital and expertise to navigate the complex process of acquiring a supermajority of units and managing the legal intricacies.
What is one piece of software that helps you be productive? How do you use it?
Honestly, I couldn’t get through my workday without Spotify. I’m constantly curating different playlists and throwing on the right one helps me instantly tune out distractions and find my flow. It might seem simple, but for me, it’s the easiest way to set the right mood for tackling complex problems.
Do you have a favorite book or podcast you’ve gotten a ton of value from and why?
I don’t actually have a single favorite book or podcast I consistently turn to. My approach is more eclectic; I tend to gather insights from a wide range of sources, from industry white papers to casual conversations. I find that this diverse intake of information often sparks more creative connections than relying on any one specific resource.
What’s a movie or series you recently enjoyed and why?
I was completely captivated by The Gilded Age. It’s a fantastic period piece that does more than just tell a story; it truly immerses you in the intricate social hierarchies and stunning fashions of the era. I found it particularly fascinating to see the language and customs of that transitional century brought to life with such rich detail.
Key learnings
- Humility and self-awareness can be more important than being smart or right.
- Incorporate habits into your routine that support both the mind and body, such as eating healthy breakfasts and integrating physical activity into your workday.
- Don’t be afraid to support bold ideas.