Chicago–Prudential Preferred Properties and Rubloff Residential Properties have merged to form Prudential Rubloff Properties, an independently owned and operated firm with 17 offices and nearly 900 sales professionals and staff.
The two firms closed more than $2 billion in real estate sales in 2008 and both companies outpace any major brokerage in Cook and Lake counties in Chicago for highest average list and sales price.
Principals Chris Eigel and Michael Pierson, veterans of Chicago real estate, will lead the new company as chief executive officer and president/chairman. Rubloff principals Howard Weinstein and Tom Horwich will also be part of the Prudential Rubloff leadership team and will continue with the firm focusing on future growth in the metropolitan market.
“Rubloff is a revered Chicagoland company–part of Chicago’s cultural fabric for philanthropy, civic development and distinguished real estate services,” says Pierson. “Of course, Prudential is recognized globally for strength, integrity and innovation since 1875.”
Weinstein, who with Horwich acquired Rubloff Residential Properties in 1996, said the company’s strong, local ownership will respond quickly to Chicagoland market opportunities and challenges. “Both firms have similar business philosophies, market segments and corporate cultures, making the union an ideal fit,” he says.
The merging companies bring a full array of online resources and proprietary lead-generation tools. Prudential Rubloff will use the award-winning Rubloff.com website, integrating technology and online tools from both organizations.
Earl Lee, president of Prudential Real Estate and Relocation Services, says: “We are ecstatic to broaden our brand in these key markets as Prudential Rubloff.”
Prudential Real Estate and Relocation Services, Inc. is Prudential’s integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated.