Chicago, IL (PRWEB) January 30, 2013
Riding the housing recovery while taking market share from rival firms, Chicago real estate company @properties posted its highest sales volume in company history in 2012. @properties led all city brokers in residential sales for the fourth consecutive year and captured the No. 2 position for market share on Chicago’s North Shore.
In the city of Chicago, @properties had reported sales of $1.988 billion based on 5,088 transaction sides, an increase over 2011 of 34 percent and 31 percent respectively. The firm outpaced the overall market, which experienced year-over-year growth of 19% in the number of transactions and 27 percent in dollar volume. @properties finished the year with 38% more market share than the No. 2 firm in the city.
On the North Shore, @properties had reported sales volume of $668.5 million, an increase of 60.6 percent over 2011. Only three years after opening its first North Shore office, the firm steamed into the No. 2 position for market share in the area. @properties’ Winnetka location was the top-producing single office on the North Shore in 2012 with sales volume of more than $335.5 million. The company also opened two new offices: Lake Forest and Highland Park.
Regionally, @properties’ total reported residential sales volume for 2012 was $2.943 billion, third highest among all real estate brokers in Northern Illinois and less than 2 percentage points behind the No. 2 company.
Sales figures are based on closed transactions reported through Midwest Real Estate Data, LLC (MRED), the local multiple listing service. The data does not include rental transactions or off-market sales. Factoring in those transactions, @properties’ 2012 volume exceeded $3.2 billion, according to company co-founder Michael Golden.
“2012 was a recovery year for housing and we were well positioned to take advantage of the increased activity in the marketplace,” said Golden.
“As expected, the investments we made in marketing, training and new offices during the downturn paid major dividends as the market righted itself. We were bullish going into 2012, and things just kept getting better and busier as the year progressed,” added Thaddeus Wong, @properties co-founder.
In addition to for-sale residential brokerage, 2012 was a busy year for @properties’ other service lines. The company brokered more than 4,500 rental transactions, expanded its commercial real estate group, and continued to be the city’s leading firm for the sales and marketing of new-construction and condo-conversion developments.
@properties’ Developer Services division has written more than $30 million in new contracts since taking over sales and marketing for The Legacy at Millennium Park, a 356-unit high-rise at 60 E. Monroe St., in February 2012. @properties also closed out sales at Six North Michigan across from Millennium Park, and is nearing sellout at Ten East Delaware in the Gold Coast with only four units remaining.
“The demand for new construction is strong, but there is limited inventory. We’ve been talking to quite a few developers who are looking at putting a shovel in the ground again,” said Golden.
Established in 2000, @properties is the No. 1 Chicago real estate broker by market share and the third largest brokerage firm in Northern Illinois. @properties is also the Chicago area’s leading firm for the sales and marketing of new-construction and condominium conversion developments. @properties has offices in River North, Streeterville, Lincoln Park, Bucktown, Lakeview, Evanston, Winnetka, Highland Park and Lake Forest. For more information, visit http://www.atproperties.com.
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