“Real estate should be taught as a process of dynamic interactions rather than functional and historical facts. The result should be a real estate entrepreneur with the creativity of Leonardo da Vinci, the sensitivity for the natural world of John Muir, and the political humanity with cash management for profit of James Rouse. Of course, the graduate student should be something more!”
- Professor James A. Graaskamp

 

Professor James A. Graaskamp-
Setting the standard for excellence in real estate education

Those who knew Professor James A. Graaskamp recognize the thrill and privilege of sharing time with a truly gifted human being. During his lifetime, Professor Graaskamp became America’s foremost real estate scholar. Fortunately, he imparted his knowledge to others with great passion and unusual success. But his ability to actually transfer an exhilaration and spirit is what made Jim Graaskamp so special.

James Graasskamp was 17, with a football scholarship from Harvard University, when he was stricken by polio. While a member of the football team and a senior at Milwaukee Country Day High School, Jim Graaskamp, contracted polio in 1950 and was left a quadriplegic. He began teaching real estate at UW in 1964, and was named Department Chairman in 1968. He taught real estate until his death in 1988 at age 54, and influenced a generation of real estate professionals with his writings and lectures. Included among them were the “Magnificent Seven,” the first group to graduate from the master’s program in 1964, consisting of Don Evans, Mike Rooney, Dennis Anderson, Jon Hoppe, Dale Atrium, Warren Kennedy, and Fred Alban. ” Founder of the WREAA in the fall of 1976, with alumni Don Evans and Jim Curtis, Professor Graaskamp’s devotion to learning was reciprocated by his students who called him “Chief.” In 1983, Jim Graaskamp, confined to a wheelchair, received the Wisconsin’s Handicapped Man of the Year Award. One former student heard of the achievement and sent this note, “Hey, Chief, congratulations on your award. But I’m sorry to hear that you’ve become handicapped. What happened?”

Among his many accomplishments, Professor Graaskamp played a major role in elevating real estate to a separate and legitimate discipline within the academic world. Over a quarter century ago, he prompted the University of Wisconsin-Madison to promote real estate to full department status and offer undergraduate and graduate degrees (including a PhD) in this discipline. In obtaining this status, Professor Graaskamp helped an entire industry to gain respect. The extensive body of coursework he designed for UW-Madison students is far superior to any other. In addition, his educational program produced hundreds of alumni who have achieved an impressive level of individual and collective successes. These Wisconsin alumni are spreading his teachings and advancing professionalism throughout their chosen field.

Professor Graaskamp’s academic background included a Bachelor’s degree in creative writing from Rollins College, Winter Park, Florida; a Master’s of Business Administration in security analysis from Marquette University, and Doctorates in urban land economics and risk management from UW. Jim Graaskamp co-developed Applewood Hills, a residential development on Madison’s west side, and had other real estate business interests, including co-founder and President of Landmark Research Inc., a Madison-based consulting firm in partnership with Jean Davis (1931-2002), his business partner and companion. He was also the co-founder of a general contracting firm, a land development company and a farm investment corporation.

During his thirty-year career, Professor Graaskamp was a leader in real estate analysis. Authorities still consider his A Guide to Feasibility Analysis to be the treatise on the subject; and most institutional investors regard his discourse on portfolio management theory for real properties to be their guideline. His explanations of the complex and dynamic world of real estate were remarkably eloquent, and provided clear testimony to his formidable intellect and impressive creative writing talent. Yet, Professor Graaskamp also pushed the frontier of modern technology in his quest to accurately measure the performance of a real estate venture. Professor Graaskamp and his associates were among the first to develop computerized models for cash flow management and analysis, as well as mass appraisal problem solving. These computer models still serve as standards for the industry.

Professor James A. Graaskamp was an idealist. He once claimed that “I’m a romantic who assumes the world is rational; if you can state a rational case for something, then presumably it will carry the day.” On the other hand, Jim Graaskamp was a practical and ambitious overachiever who refused to allow anything to stand in the way of his life’s ambitions, except his uncompromising code of ethics.

Professor James A. Graaskamp developed one of the country’s premiere programs for the study of real estate, a program that continues to merit national recognition. Following his death, The James A. Graaskamp Memorial Fund was established by the WREAA to commemorate and celebrate the life of Professor Graaskamp and to guarantee the continuation of excellence in real estate education which he and his predecessors at UW-Madison made legendary.

“He was a beacon of integrity in demanding high standards of appraisal in the real estate industry.”
- Anthony Downs, The Brookings Institution

“His spirit and devotion have made him immortal in the minds of a generation of real estate professionals. He is and remains a heroic figure with incredible physical courage, a relentless spirit, and a sense of intellectual honesty that is seldom found in today’s world.”
- Stephen P. Jarchow, Regent Entertainment

“He was a formidable force in this business. More than that, he was the most admired man in the industry. Everyone admired him greatly.”
- Claude Ballard, Goldman Sachs

“A man of broad talent, unobtrusive generosity, unshakable courage, and a true and cherished friend.”
- Richard U. Ratcliff, UW-Madison Business School

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