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Real Estate Deals of the Rich and Lawyerly

My morning review of the headlines brought up a reference to Chicago, a site I first wrote about here last year (Site Tracks Sales of Lawyers' Lairs). The site stands out for adding color to the standard names-and-numbers approach to reporting on real estate transactions. Rather than merely list the seller, buyer and price, it tells you a bit about who they are. It covers real estate transactions in Chicago's Lincoln Park and Lake View neighborhoods, while a companion site, BlockShopper St. Louis, does the same for suburban St. Louis County. And because those neighborhoods rank among Chicago's more well-to-do, the site's profiles include a fair share of lawyers.

So I thought I'd check in and see whether lawyers are doing their fair shares to support the real estate market in the Windy City. I am able to confirm: They are. From just the past few weeks' reports, here are some of the purchases and sales made by legal professionals:

BlockShopper has plenty more recent listings involving lawyers, including the health lawyer who bought a Lincoln Park condo for $387,000, the commercial finance lawyer who bought a Lincoln Park condo for $386,000, and the securities lawyer who bought a Lincoln Park townhouse for $896,500. One other non-scientific observation: The deals reflect an inverse correlation between years out of law school and size of firm. In other words, the younger the lawyer buying real estate, the greater the liklihood he or she works at a large firm.

Posted by Robert J. Ambrogi on August 29, 2008 at 09:43 AM | Permalink | Comments (2)


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