Chicago’s top residential broker of 2024, Matt Laricy, has opened his first suburban office in the wealthy Western suburb of Hinsdale, a move that will allow him to follow clients who move outside the city when they’re ready to buy their next home.
“In the last four years, we referred out over $250 million in the suburbs. And that just doesn’t make any sense to refer that much out,” he said. “I’m just getting everybody else rich.”
Laricy and his team have risen through the ranks of Chicago broker teams by grinding out a high number of deals at lower price points, relative to other luxury brokers and teams that made up The Real Deal’s ranking of the city’s top 20 brokers of last year. The suburban expansion is a natural next step of that work, Laricy said.
“We do so many $400,000 to $800,000 sales. And then all those people pop out a kid and they either move to North Shore, or they move to the western suburbs,” he said. “So, I think it’s time we expand to where a lot of our clients go, without taking away from anything we got going on in the city.”
The office will be located in Hinsdale and will also focus on surrounding areas like Burr Ridge, Oak Park and Western Springs, he said. The office will be run by three of the Laricy Team’s brokers: Kelsey Bischoff, Tyler Morgan and Catherine Holbrook.
Hinsdale has seen a boom in demand over the last few years that has raised the ceiling of its luxury market. One home asked $7.3 million this summer before it was pulled from the market a few months later. The record in the affluent western Chicago suburb is $7.7 million, set in 2021. That sale of a 17,600-square-foot home on East 8th Street was the priciest sale on record for the Chicagoland area that year and blew Hinsdale’s previous record of $5.5 million out of the water.
Strong buyer demand, even at higher price points, is another part of why Laricy chose Hinsdale for his team’s first foray into the suburbs, he said.
“If we’re going to go into a suburban area, we want to go into the most sought-after one,” he said. “I want to get that established, and then in a couple years, do that same model on the North Shore.”
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