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@properties Acquires

by Chicago Agent

DeMaria Properties

@properties has acquired DeMaria Properties, a privately owned real estate brokerage primarily serving Chicago’s West Loop neighborhood, announced Michael Golden and Thaddeus Wong, co-founders and co-principals of @properties.

The acquisition of DeMaria Properties adds about $50 million in annual sales volume to @properties’ gross revenues, which totaled $1.3 billion in 2005. The acquisition brings the total number of agents within @properties to 350.

“This is an important acquisition for us for three reasons: First, it helps us take another step toward our goal of becoming the largest independently owned realty firm in the city; second, it bolsters our presence in the West Loop, South Loop, River North and Gold Coast neighborhoods, where much of DeMaria’s business is concentrated, and where DeMaria will launch @properties’ latest new-construction development at Randolph and DesPlaines streets; and finally, it strengthens our team by bringing on board a number of the city’s elite brokers, led by Rick DeMaria and Stino Milito,” says Golden.

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