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Daily Real Estate News  |  May 25, 2011  |   Chicago-Area Real Estate Boards OK Merger
The Board of Directors of two Chicago-area real estate associations voted unanimously to approve a merger between its two boards, which would create the largest real estate association in Illinois and the fourth largest in the country.

The Mainstreet Organization of REALTORSŪ and the REALTORŪ Association of Northwest Chicagoland will have their members vote in July in order for the merger to be made final.

The merged organization would operate under the Mainstreet Organization of REALTORSŪ name. It would include 16,000 members and serve 185 communities in DuPage, Cook, and Lake Counties.

Some industry insiders expect a growing number of association mergers across the country to follow suit in efforts to curb operating costs when some associations are facing declining memberships, according to Real Estate Industry Watch.

Source: “2 Chicago-area Real Estate Boards Eye Merger,” Inman News (May 24, 2011), “Chicagoland Boards Look to Merge. More to Come,” Real Estate Industry Watch (May 25, 2011), and “2 Realtor Groups to Form State’s Largest Association,” Chicago Tribune (May 24, 2011)

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