The Real Deal Ranks W.E. O’Neil #5, Taps Damian Eallonardo for Insights

W.E. O’Neil was recently featured in The Real Deal’s ranking of Chicago’s top contractors, highlighting our ability to adapt and thrive despite ongoing industry challenges. The article explores the construction landscape in Chicago and how top firms have learned to adapt—including navigating rising construction costs, financing hurdles, and securing major projects despite the slow development pipeline.

Chicago’s construction saw a rebound in 2024. Of the city’s top 20 contractors, 17 brought in $100 million or more in new work in Chicago in 2024.

“The number of opportunities that we have had the chance to compete for is up year-over-year by a substantial amount,” Damian Eallonardo, W.E. O’Neil executive and board member of the Chicago Association of General Contractors, noted. W.E. O’Neil has expanded into high-end retail and pursued projects in other states, including Oklahoma and Michigan, to maintain momentum amid Chicago’s unpredictable development climate.

While new development in Chicago remains sluggish due to high costs and permitting delays, W.E. O’Neil has positioned itself strategically to remain competitive. “In our core sectors, we are seeing the most activity with aviation and multifamily, but we have to follow our client,” said Eallonardo. The firm is also keeping a close watch on policy changes that could impact future projects, including efforts to streamline the city’s complex permitting process.

The number of opportunities that we have had the chance to compete for is up year-over-year by a substantial amount.

_{Damian EallonardoExecutive VP, Chicago}

We’re also playing a key role in Chicago aviation, securing a $250 million permit for significant renovations and expansions at O’Hare International Airport. “At O’Hare or Midway [airport], that’s where there is lots of economic activity in Chicago,” said Damian.

As the industry braces for potential shifts, including the impact of new tariffs on construction materials, W.E. O’Neil remains focused on resilience and strategic growth. “The cost of construction is probably outpacing rent growth,” Eallonardo added, emphasizing the importance of adapting to market conditions.

Read the full article to learn more about W.E. O’Neil’s role in shaping Chicago’s construction landscape.