Less than two years after winning her own Sotheby’s franchise as part of a lawsuit settlement, Karina Caulfield has shut down her Lakeview residential real estate office to join forces with Conlon: A Real Estate Company.
Southport Sotheby’s International Realty forfeited its franchise with Parsippany, N.J.-based Sotheby’s and ceased operations Wednesday afternoon, Ms. Caulfield says. She will become vice president of business development for Chicago-based Conlon.
The staff of about 70 agents will stay on with Conlon Real Estate, which will keep the office at 3746 N. Southport Ave., she says. Ms. Caulfield and Sean Conlon, founder and chairman of Conlon & Co. and Conlon Real Estate, declined to comment on the terms of the deal, including whether Ms. Caulfield maintains an ownership stake.
Conlon Real Estate will now have about 200 agents working out of offices at 1101 W. Lake St., 2044 W. Roscoe St., Southport, and a building at 6 W. Maple St. that opens next week, Sean Conlon says. The combined companies should do about $400 million to $500 million in sales annually, he estimates.