Industry News

Sales soar at Chicago real estate brokerage

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Chicago-based Baird & Warner, one of Illinois' largest independent real estate firms, posted year-end sales of more than $6.2 billion in 2004, up 15 percent from $5.4 billion in 2003, the company said Monday. The company sold 18,912 homes in 2004, a gain of 1,100 real estate properties over the 17,835 homes sold in 2003. The independent real estate firm's mortgage division, Baird & Warner Financial Services, reported 2004 home loan originations of $398 million, down 38 percent from 2003. The company said the number is in range with the mortgage industry's expected decline range of 37 percent to 44 percent. "Baird & Warner Financial Services underwent a year of restructuring in 2004 to position itself as a mortgage banker offering the broadest product menu with consistently excellent customer service," said Timothy Good, the division's president, in a statement. "We finished the year in a very strong position and are optimistic about the market and our continued growth ...