Chicago Real Estate Resources Inc. is getting out of the residential real estate business. The firm, founded in 2004 by Eric Janssen, announced this week that they would be moving more than a dozen agents over to Fulton Grace Realty.
Janssen plans to focus efforts on development, commercial real estate and real estate insurance. However, he did note that the relationship will benefit both firms. “CRER has experienced continued growth in our 16 years of business and we look forward to continuing to add value for our commercial and real estate investment clients,” Janssen said in a statement announcing the move. “We are excited to start this partnership with Fulton Grace, leveraging their team, network and experience in residential rentals and sales.”
TJ Rubin, president and founder of Fulton Grace, told Chicago Agent he’s excited about the potential for synergy between the two companies.
“Our firm has been rapidly expanding its residential sales volume in Chicago with little attention to commercial,” said Rubin. “Rather than placing efforts and resources toward developing an in-house commercial division, we plan to heavily leverage Janssen’s and CRER’s experience in commercial real estate to benefit our agents and clients.”
The former Chicago Real Estate Resources agents had been working under Real Living City Residential, which operated under a Real Living franchise that is majority owned by Berkshire Hathaway’s HomeServices of America, Inc. The new residential agents will mainly be working out of Fulton Grace’s Wicker Park office, which just opened in July. Rubin said that the transitioning brokers closed nearly $50 million in residential sales last year, and they’re looking forward to the “local feel and close-knit community” offered by the Chicago-based company.