Related Midwest, a growing Related Realty residential brokerage unit, plans to open a Bucktown office this year with intentions to lease or buy more than 3,000 sq. ft. in the area by June.
The move comes amid plans to increase its number of brokers to about 100 by the end of the year. It currently has about 60, Wolf said.
A Bucktown office will give brokers more visibility in the popular market and make it easier for them to serve their clients throughout the city, Wolf said. The space search comes as Wolf said he sees signs of a strengthening residential market this year.
“We’re seeing traffic in all facets of the market pick up,” he said.
The office would be Related Realty’s second; it opened in 2013 in River North. Related Midwest, a division of New York-based Related Cos., is one of Chicago’s most active residential developers. In November the firm took control of the Chicago Spire development site at 400 N. Lake Shore Drive.