Market Leaders Unite to Form Prudential Rubloff Properties
Prudential Preferred Properties and Rubloff today announced the merger of Rubloff Residential Properties with Prudential Preferred Properties.
The combined company will operate as Prudential Rubloff Properties, an independently owned and operated firm with 17 offices and nearly 900 sales professionals and staff. Prudential Rubloff has a formidable presence in Chicago’s high-end markets of Cook and Lake counties, and in Michigan’s exclusive Harbor Country. The two firms closed more than $2 billion in real estate sales in 2008; both outpace any major brokerage in Cook and Lake counties for highest average list and sales price.
The merger bonds two of Chicago’s most respected firms whose distinguished roots trace back nearly 80 years. Principals Chris Eigel and Michael Pierson, longtime veterans of Chicagoland real estate, will lead the new company as chief executive officer and president/chairman. Rubloff principals Howard Weinstein and Tom Horwich complete the Prudential Rubloff leadership team and will continue with the firm focusing on future growth in the metropolitan market.
“Rubloff is a revered Chicagoland company – part of Chicago’s cultural fabric for philanthropy, civic development and distinguished real estate services,” said Pierson. “Of course, Prudential is recognized globally for strength, integrity and innovation since 1875.”
Weinstein, who with Horwich acquired Rubloff Residential Properties in 1996, said the company’s strong, local ownership will respond quickly to Chicagoland market opportunities and challenges. “Both firms have similar business philosophies, market segments and corporate cultures, making the union an ideal fit,” he explained. “Rubloff’s nearly 80-year history of excellence continues, as the firm expands onto Chicago’s coveted North Shore to fulfill one of founder Arthur Rubloff’s dreams.”
Added Horwich: “Prudential Rubloff changes the landscape of Chicagoland real estate. The company is now a powerhouse of agent and client services that establishes a new level of service throughout Chicagoland.”
As real estate technology leaders, the merging companies bring to the union a full array of online resources and proprietary lead-generation tools. Both companies are known for their technology and marketing innovation. Prudential Rubloff will use the award-winning Rubloff.com website, integrating technology and online tools from both organizations.
“Together the two firms will boast Chicagoland’s finest team of sales professionals and managers,” said Eigel. “When other real estate companies are cutting back, Prudential Rubloff is doubling efforts.”
Earl Lee, president of Prudential Real Estate and Relocation Services, added: “Two fine organizations join forces and instantly jump to the forefront of Chicagoland real estate. We are ecstatic to broaden our brand in these key markets as Prudential Rubloff.”
Prudential Real Estate and Relocation Services, Inc. is Prudential’s integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated.
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