Crazy Condo Decision Pays Off

The Great Recession famously tankedthe 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.”
 
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.
 

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

With Illinois' Senior Population Set To Grow By 40%, Developers Are Facing A Financing Puzzle

Houston CRE Firms Turn To Contractors As They Look To Scale

REPORT: JLL In Talks To Relocate Global Headquarters

The Revitalization Of Sugar Creek On The Lake, A Premier Waterfront Property In Greater Houston

Illinois' Record Storm Season May Be Changing The Risk Equation For CRE

10 States Alone Carry $1.4T In Wildfire Property Risk, Cotality Finds

Venture One Real Estate Lands 132K SF Portfolio: The Chicago Deal Sheet

Related Midwest Is Betting Big On Chicago While Others Hold Back

Bally's Pauses Construction On Portion Of Casino Project Amid City Squabble

ICE Pivot From Warehouse Plan Funnels Cash To Private Prison Owners

Blackstone Vice Chairman Tom Nides On Leadership And The Future Of CRE

Portillo's Lays Off Staff At Oak Brook HQ As It Slows Expansion