Koenig & Strey merging with Schiller

Chicago-based Koenig & Strey Real Living is adding 70 associates and staff with the acquisition of Schiller Real Estate by Koenig & Strey's parent company, HomeServices of America Inc.

Elmhurst-based Schiller Real Estate will merge with Koenig & Strey, and owners Robert J. Schiller and Anne M. Schiller will stay with the boutique firm, to be known as the Koenig & Strey-Schiller Office.

The acquisition gives Koenig & Strey Real Living 22 locations and 1,000 agents and staff, making it the third-largest residential real estate firm in dollar volume in the greater Chicago market, HomeServices said in a press release.

Based in Minneapolis, HomeServices claims to be the second-largest independent residential mortgage real estate brokerage, operating in 20 states under brand names including Prudential California Realty, Long Companies, RealtySouth and Esslinger-Wooten-Maxwell Realtors.

HomeServices acquired Koenig & Strey in September from Brookfield Residential Property Services. Under the terms of the deal, the luxury brokerage continued to operate as a franchisee of Canadian-based Brookfield RPS' North American real estate network (see story).

Brookfield's GMAC Real Estate announced in November that it would rebrand as Real Living, in a merger that brought Columbus, Ohio-based Real Living under the umbrella of Brookfield RPS (see story).

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