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Coldwell Banker Realty closing five Chicago-area offices
Agents told Crain’s in the past few days that the offices in Barrington, Elmhurst, Downers Grove, the West Loop and Wheaton are closing. Ayoub Rabah, president of Coldwell Banker Realty in the central west region, confirmed the information today.
A sixth office, in Libertyville, is moving to a much smaller space—not a closing but another way for the brokerage to shrink its footprint.
Corporate-owned Coldwell Banker Realty is a separate entity from Coldwell Banker Real Estate Group, which in December expanded to 70 offices by acquiring the 10 offices of D’Aprile Properties.
As the real estate market slowed in the latter half of 2022, cuts at brokerages seemed inevitable. New York-based brokerage Compass went first, announcing…