Broker Exits @Properties to Lead Laricy Team’s Suburban Office

Broker J Maggio is trading in his jeans for suits as he teams up with top Chicago broker Matt Laricy to head the Laricy Team’s new office in Hinsdale, a wealthy western suburb.

Formerly of @properties Christie’s International Real Estate, he made a name for himself in Hinsdale over the last 10 years since he and his family settled out there, following a stream of his Chicago clients that became “city sellers and suburban buyers,” he said. As a one-man team, he brought in $12 million in sales volume last year, and averages about $20 million annually, Maggio said.

Maggio said he is a family man at heart. He coaches little league teams to spend more time with his kids, and he was initially unsure whether the hypercompetitive environment of the Laricy Team was the right fit for him.

Laricy approached Maggio to head up the new office after the Laricy Team’s Catherine Holbrook, who was set to lead the Hinsdale branch, died unexpectedly earlier this year.

The loss of Holbrook, who was a close friend of Laricy, left him even more determined to make the Hinsdale office a success in honor of her vision, he said in a January interview.

He needed someone he could trust in that area.

“And I just kept coming back to (Maggio),” he said.

Ultimately, Maggio said he was glad to step up.

“It’s one of those opportunities in your career where you’ve got to take a leap of faith and take some risk and change, which, as we get older, is harder to do,” he said.

The Hinsdale market is growing quickly and has long been dominated by a few “tried and true” players, Maggio said. He said he is excited to combine his local knowledge and client list with the Laricy Team’s social media presence and the resources of a full team.

“You’re going to see me in a suit and tie more often than you’ve seen me in 15 years,” Maggio told his kids when he broke the news.

He became a licensed broker in 2010 and got his start at Keller Williams. He jumped to @properties in 2013, remaining there until 2017, when he moved to boutique luxury brokerage Conlon Real Estate. That became Compass’ first Chicago acquisition in 2018.

Just two years later, Maggio moved back to @properties from Compass and remained there until this week.

“Being able to grow something from the ground up in a new area for him is something that creates a lot of excitement for me,” he said.

The luxury market in Hinsdale has been growing for some time now, growth that Maggio said is sustainable into the future, making it a good market to invest in.

“The custom homes now are $450, $500 a square foot and up, and there’s no shortage of land. There’s a lot of people moving back to be closer to family,” he said. “Usually the narrative has always been the flight out of Illinois. But I was on a listing the other day and had seven different states represented as far as buyers coming through, looking to move back home.”

Laricy said increased demand among luxury buyers in Hinsdale is part of the reason he chose it for the site of the team’s first suburban office. Kelsey Bischoff and Tyler Morgan, brokers with the Laricy Team, will assist Maggio in running the new office.