Dina Lewis, amid Elliman’s leading-generating brokers in excess of two a long time in New York, joined Chicago’s Jeff Lowe Group at Compass, a workforce that topped all rivals in the town and in Illinois by household product sales in nine of the previous 10 years.
Lewis, who burnished her chops with Melanie Lazenby at Elliman, moved to Chicago with her daughter in 2018 will operate out of Lincoln Park, a single of the city’s most affluent neighborhoods. She’ll emphasis on the exact same sector that she did in New York: Luxury resale and new progress.
“I have invested the last four decades learning the town and understanding the sector,” she reported in an job interview. “I felt like I wanted to align myself with the most effective workforce and the most effective business.”
Lowe Team closed just about $400 million of residential product sales final yr. It beat rivals by profits in every year given that 2012 apart from for 2013, in accordance to Midwest Serious Estate Facts. Among the new specials, it represented the seller of home acquired by actor Jim Belushi in March, and is shopping the Ravenswood residence of Jed Hoyer, president of baseball operations at the Chicago Cubs.
Lewis and Lazenby won major producer awards at Elliman all through their stint in New York, selling a lot more than $33 million of true estate in 2009 by itself, in accordance to their marketing supplies. Elliman does not have places of work in Chicago.
She reported Chicago features lots of leading-end rental options, citing important revenue at the St. Regis and Just one Bennett Park developments. A apartment at the St. Regis offered for $6 million final week, marking Chicago’s 52nd sale of at the very least $4 million so significantly this 12 months and placing the speed forward of 2021. A $20 million sale at Trump Tower in March qualified prospects the record.
Nevertheless, condos spend much more time on the current market than detached single-household properties and also pattern to be a drag on total price ranges. In the very first a few months of the yr, Chicago properties bought right after an ordinary of 61 times on the sector, compared with 99 for condos, which make up about two-thirds of all houses marketed in the metropolis.
One massive distinction from New York: more consumers are looking for houses, not just investments, she claimed. Lewis, who lives in River North, reported she’s also observed a greater circulation again into the city from the suburbs as the pandemic wanes.
“There’s home for more luxurious enhancement in the town,” she mentioned. “You have persons who are truly investing in the city and investing in a dwelling that they’ll are living in for a very long time.”
Chicago wasn’t top rated of head when she visited in 2017 with her daughter, now 10. That changed as she received to know the region.
“I’m a New Yorker and now I have a Lady Scout Troop,” she stated. “It’s ridiculous.”