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Compass launches new development division in Chicago

Heather Gustafson and Robert Reffkin

Compass has launched a new development marketing and sales division in Chicago, hiring away a broker from rival @properties to lead it.

Heather Gustafson will head up the team. Before joining @properties, Gustafson worked in business development for CMK Realty, part of Chicago-based developer CMK Companies.

Gustafson said the new division will differ from traditional brokerage work by partnering with developers of new projects “from the inception … all the way to closing.” That means “well in advance of having brochures ready to be printed,” she said.

The new division, and recruitment of Gustafson are the latest in Compass’ rapid expansion into Chicago. The firm’s biggest pickup was the acquisition of Conlon Real Estate last month, which tripled Compass’ agent count to 300 in the city.

Since then, it has added 10 more.

Gustafson said the new division will work on both residential sales and rental projects. Among those projects already in the works are Peerless Real Estate Investment’s Hayden West Loop condominium building, 1115 West Washington Boulevard; Taris Real Estate’s condos at 900 West Washington Boulevard; and a duplex project at 530 West Dickens Street.

The Chicago native and graduate of the University of Illinois has served on the Chicago Association of Realtors’ board of directors and its foundation, and is a past president of the Chicago Women’s Council of Realtors. She is part of a 28-member nationwide new development team for Compass, a spokesperson said.

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