RISMEDIA, April 9, 2010—HomeServices of America, Inc., a Berkshire Hathaway affiliate and one of the nations largest and most financially sound homeownership service providers, announced the acquisition of Elmhurst, Ill.-based Schiller Real Estate, Elmhurst’s leading residential real estate firm.
Schiller Real Estate will merge with Chicago-based Koenig & Strey Real Living, which HomeServices acquired in September 2009. The location will be referred to as the Koenig & Strey-Schiller Office.
The acquisition furthers HomeServices’ goal of expanding Koenig & Strey’s footprint within the greater Chicago market and surrounding communities and reinforces the strength, stability and financial solvency of Koenig & Strey.
The merged organizations make Koenig & Strey the third-largest residential real estate firm in dollar volume of transactions within the greater Chicago market. Koenig & Strey will now have 22 locations and 1,000 agents and staff.
“The acquisition of Schiller, merging with Koenig & Strey, further strengthens our presence in Chicago,” said Ron Peltier, chairman & CEO of HomeServices. “Our goal is to grow the Koenig & Strey brand through the company’s ongoing sales and marketing process, as well as through strategic acquisitions with symbiotic organizations.”
“This is an important step in expanding Koenig & Strey’s footprint within key suburban Chicago markets,” added Koenig & Strey president & CEO Doug Ayers. “This opens a completely new market for us, and, with Schiller’s strength in the Elmhurst community, immediately positions our continued growth.”
“We are very proud to be a part of HomeServices of America and Koenig & Strey,” noted Schiller Real Estate co-founder Bob Schiller. “We are joining an organization consistent with our high standards of service and integrity, making this a win/win for our customers and associates.”
“Bob and Anne Schiller have done an outstanding job of building a highly respected organization and we look forward to their continued association with us,” concluded Peltier.