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Crazy Condo Decision Pays Off

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Crazy Condo Decision Pays Off
The Great Recession famously tanked the Chicago condo market. That was when a young local attorney with a taste for real estate looked the market in the eye and thought, “I’m going to make some money from Chicago condos.”
 
Crazy Condo Decision Pays Off
Fulton Grace Realty managing broker TJ Rubin tells us he saw an underserved niche among individual condo owners caught with units they didn’t want—perhaps they needed to relocate for their business—but also didn’t want to sell at a loss. “Not many other property management companies wanted to undertake managing individual condos spread out across the Chicago market, but we’ve made it work,” TJ says. The company has gone from managing a handful of units three years ago to 350 now, and TJ says the niche also helps him build his brokerage business because when condo owners do bite the bullet and sell, they usually come to him.
 
Reznick (Retail) MCHI
Related Topics: The Great Recession, TJ Rubin