Chinese realty company enters Chicago

One of China's largest residential real estate brokerages has opened an office in a Chicago suburb to work with Chinese investors who want to acquire property in the area.

5i5j Realty, a division of Beijing-based 5i5j Group, will be in Buffalo Grove, about 30 miles (48 kilometers) northwest of Chicago, and by the end of this month the company expects to open an office in downtown Chicago, employing 10 people at both locations. "We will have both Chinese and American agents on our staff," said Ellen Phillips, an American who is vice-president and the managing broker for the Buffalo Grove office. "Eventually, we will open offices in other locations as well.

"Some business will be done locally (in Chicago) but we will also team up with new home builders to market their inventory in China," she said in an interview on Tuesday.