We’re proud to celebrate the achievements of three outstanding members of the Wisconsin Real Estate Program, whose dedication to research, teaching, and student success continues to elevate our program’s national reputation. Congratulations to Chris Timmins, Tim Carr, and Heejin Yoon on receiving distinguished awards from the Wisconsin School of Business! Your leadership, innovation, and commitment to excellence are part of what makes the Wisconsin Real Estate Program the #1 ranked program in the nation, according to U.S. News & World Report.
Learn more about their well-deserved honors:
Erwan A. Gaumnitz Distinguished Research Award: Chris Timmins, Gary J. Gorman Affordable Housing Professor in the Department of Real Estate and Urban Land Economics and Faculty Director of the Affordable and Sustainable Housing Development (ASHD) Track
Erwan A. Gaumnitz Distinguished Research Award: Chris Timmins, Gary J. Gorman Affordable Housing Professor in the Department of Real Estate and Urban Land Economics
Christopher Timmins, the Gary J. Gorman Affordable Housing Professor in the Department of Real Estate and Urban Land Economics, has received the WSB Erwin A. Gaumnitz Distinguished Research Award. This prestigious recognition celebrates faculty whose research demonstrates outstanding quality, significance, and productivity. Chris’s work continues to shape conversations at the intersection of urban economics, environmental policy, and real estate, offering valuable insights for policymakers and communities on issues like affordability, environmental justice, and urban sustainability.
Professor Timmins is internationally recognized as a leading scholar in urban and environmental economics, with additional interests in industrial organization, development, public, and regional economics. His research focuses on developing new methods for the non-market valuation of local public goods and amenities, with particular expertise in hedonic pricing models and residential sorting techniques. His recent projects examine the economic costs of poor air quality, the benefits of environmental remediation, and the social consequences of neighborhood change and environmental injustice.
Over the past five years, Professor Timmins has sustained an impressive record of research productivity, publishing in some of the most respected journals in economics, including The Journal of Political Economy, The Quarterly Journal of Economics, and The Review of Economics and Statistics. He recently served as a guest editor of Real Estate Economics, and had previously been an editor at the Journal of the Association of Environmental and Resource Economists – all leading journals in the field, and his work has been presented at top universities and academic conferences worldwide.
“Chris is an exceptional scholar whose research addresses some of today’s most critical urban and environmental issues. His work is rigorous, relevant, and deeply impactful. We are proud to recognize his contributions to the field and our department,” said Yongheng Deng, Chair, Department of Real Estate & Urban Land Economics
Before joining the University of Wisconsin–Madison, Professor Timmins served on the faculties of Yale University and Duke University. He holds a BSFS in International Economics from Georgetown University and earned his Ph.D. in Economics from Stanford University.
Student Learning & Engagement Award: Tim Carr, Deputy Chair, Department of Real Estate & Urban Land Economics
This award recognizes Tim Carr’s outstanding and ongoing commitment to inspiring, engaging, and creating transformative learning experiences for students. Tim consistently exceeds expectations through his dedication to innovative teaching, cross-unit collaboration, and fostering a sustainable and inclusive educational environment.
Among his notable achievements, Tim has developed new co-curricular opportunities for students, including case competitions, industry site visits, and field trips. He teaches several undergraduate courses, and he played a key role in launching the new Real Estate Certificate and is currently teaching the program’s first course for the Professional MBA Program. Additionally, Tim stepped in to teach the graduate-level Real Estate Private Equity course and become the advisor for the Real Estate Private Equity Club, ensuring continuity and quality for students during a transitional period.
Beyond the classroom, Tim has managed an increased workload while maintaining personal, meaningful connections with students. He serves as the pathways consultant to students and actively works to build partnerships both within the Wisconsin School of Business (WSB) and beyond. His outreach includes collaborations with the WSB Pre-College Program, PEOPLE Program, local high schools, and other organizations to introduce students from diverse backgrounds to career opportunities in the real estate industry.
These efforts have led to enriched learning experiences, expanded networking and travel opportunities, and a stronger, more connected student community. Colleagues appreciate Tim’s compassionate, proactive, inclusive, and supportive approach to student learning and engagement.
In recognition of his exceptional leadership and contributions, Tim was recently promoted to Deputy Chair of the Department of Real Estate & Urban Land Economics. In this new role, he will help shape curriculum decisions, foster faculty collaboration, and oversee the Real Estate Undergraduate Program.
Department Chair Yongheng Deng said, “Tim embodies the very best of our department’s values — innovation in education, a deep commitment to student success, and a spirit of collaboration that lifts everyone around him. This award is a well-deserved recognition of his dedication and the positive difference he makes every day.”
Henry Naiman Outstanding Teaching Award: Heejin Yoon, Real Estate PhD Student, Department of Real Estate & Urban Land Economics
Heejin Yoon is a fifth-year Ph.D. student in Real Estate and Urban Land Economics at the University of Wisconsin–Madison. Since joining the Wisconsin School of Business, he has distinguished himself as an exceptional teaching assistant for several core courses, including Real Estate Finance, Urban and Regional Economics, and Advanced Real Estate Finance. In each of these roles, Heejin has demonstrated a commitment to engaging, effective, and student-centered instruction. In recognition of his outstanding performance in the classroom, the department appointed him as the principal instructor for Urban and Regional Economics in Fall 2024.
His outstanding teaching has been recognized through consistently high course evaluations and multiple honors, including two Distinguished Teaching Awards and, most recently, the 2025 Wisconsin School of Business Henry C. Naiman Outstanding Teaching Award.
“Heejin has distinguished himself as an excellent educator and mentor. His thoughtful, student-focused approach and his ability to make complex topics accessible and relevant have left a lasting impression on our students. Beyond the classroom, Heejin’s dedication to supporting student success has truly enriched our program. It’s been a privilege to witness his growth as a scholar and teacher,” added Lu Han, Ph.D. Faculty Director and Professor, Department of Real Estate & Urban Land Economics.
Outside the classroom, Heejin actively contributes to the academic community by mentoring fellow Ph.D. students and organizing research seminars. He holds a B.B.A. from Yonsei University and an M.S. in Finance from KAIST College of Business. Before beginning his doctoral studies, Heejin worked at the Bank of Korea, focusing on financial stability analysis and macroprudential policy research.