The Chicago-based brokerage @properties continues its expansion with the purchase of the No. 1 real estate office in Park Ridge, by sales volume: the former Century 21 Elm office. It’s a significant acquisition, which will offer @properties a dominant — nearly 25% — market share in the area.
The sale to @properties was overseen by the office’s co-founders Stino and Vince M. Milito. The Militos opened their business in 1978 and within two years, it was considered the No. 1 real estate office in Park Ridge — a reputation they maintained for more than four decades. In the past year alone, the office generated $236 million in sales.
“After 43 years in business, it was extremely important for us to find the right firm to support our agents and take them to the next level,” said Stino Milito of the transition. “There isn’t another firm in Chicago besides @properties that comes close to exhibiting the care and culture we have built over the last four decades, and we were blown away by their technology, training and marketing.”
That firm, located at 741 Devon Ave., began operating within the @properties brand this week. All 72 agents are expected to transition to @properties, according to a press release from the company. Vince Milito’s son, Vince S. Milito, will stay on in his role as designated managing broker.
“This is a strong-performing office with a phenomenal reputation,” said Mike Golden, co-founder and co-CEO of @properties. “Just as importantly, it’s a great culture fit for @properties. We’ve co-op’d with Century 21 Elm on many transactions over the last few years, and it’s a group of agents we admire and respect. We’re excited to welcome them to @properties.”