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hicago's real estate landscape is undergoing significant changes, with two of the city's largest independent brokerages merging to form a powerhouse. Baird & Warner is acquiring Dream Town, creating what will be the region's second-largest brokerage by 2024 sales volume. The combined entity will boast nearly 3,000 agents and staff across 35 offices in Chicago and its suburbs.

    The merger was driven by the discovery of complementary systems between the two companies, according to Yuval Degani, founder and CEO of Dream Town. Degani will join Baird & Warner's leadership team as president of brokerage services after the acquisition is finalized. Over the next few months, the two brokerages will integrate under the Baird & Warner brand.

    The move comes amidst industry turmoil, including market slowdowns, consolidation, and disputes over broker commissions. Steve Baird, CEO and President of Baird & Warner, cited the importance of maintaining local ownership in a rapidly changing market. "Real estate is a local business," he said. "We think by being here and making those local decisions, we're going to be able to be more effective."

    The acquisition will bring together Dream Town's digital expertise with Baird & Warner's back-end systems, creating a robust platform for agents. The merged entity aims to combat the current market challenges of low inventory and high demand by increasing its market share and offering a broader range of services.