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Buffett Buys Real Estate in Chicago

Investor Warren Buffett bought up one of the Chicago area's biggest real estate firms.
/ Source: NBCChicago.com

Billionaire investor Warren Buffet got a piece of Chicago this morning.

Buffet’s company, Berkshire Hathaway, today acquired Koenig & Strey Real Estate, which is based in Wilmette. The firm is among the largest residential real estate businesses in the Chicago area.

“This transaction makes one of the premier firms within the Chicago area into an even stronger organization,” Koenig President and CEO Doug Ayers said in a statement. “By joining with HomeServices, we will be unmatched in our ability to serve the real estate and corporate relocation needs of new and existing clients in the Chicago area.”

Koenig & Strey has been on the market for some time, according to Crain’s Chicago Business, but the sour economy hampered efforts to sell the real estate enterprise.

Perhaps Buffet’s involvement is a good sign for the housing market.

With this acquisition, the Berkshire Hathaway affiliate HomeServices of America now has 15,000 real estate agents in 20 states.