Bill Marovitz

About

William A. Marovitz, served in the Illinois House of Representatives from 1974 to 1980 and the Illinois State Senate from 1980-1993. He served as Chairman of the Senate Judiciary Committee and Vice Chairman of the Senate Public Health Committee.   In 1993, Marovitz decided to retire from the Senate and devote most of his time to business development. He purchased some of the most valuable property in Chicago. He then brought together several major companies in consortia, such as U.S. Equities, American Invesco, Magellan Properties, and Near North Properties. These companies, under Marovitz's leadership developed the properties bordered by Clark Street, State Street, Grand Avenue and Ohio Street. The six parcels in the development include approximately 1000 apartment units and 1000 condominium units. There is also over 250,000 square fee of retail space and over 2500 parking spaces. The condominium developments are completely sold out and the apartment units have an occupancy rate of over 90 percent. Marovitz recently sold the aforementioned apartment buildings to a European buyer in one of 2007’s largest financial transactions in the rental sector.
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