Cease and Desist Order Issued Against Unlicensed
Real Estate Professional

CHICAGO – The Illinois Department of Financial and Professional Regulation (IDFPR), Division of Professional Regulation has ordered Bridget Gruzdis and her firm Phoenix Horizon, LLC to immediately cease and desist the unlicensed practice of Real Estate.  Ms. Gruzdis’ land development and real estate business included marketing and selling a 70-acre farm that is the home of her aunt, Agnes Albinger, a 100 year-old Monee woman.  

“Buying and selling real estate requires extensive knowledge, good judgment and unquestionable honesty.  When someone practices this profession without the necessary license, they are demonstrating they don’t have those assets,” said Donald W. Seasock, Acting Director Division of Professional Regulation, IDPFR.

After learning about Ms. Albinger’s financial struggles from news reports earlier this year, IDFPR’s Mortgage Fraud Task Force opened an investigation into why Ms. Albinger’s farm was at risk of foreclosure.  While the Task Force found no evidence of wrongdoing with regards to the farm’s mortgage, investigators learned that Bridget Gruzdis was holding herself out as a commercial real estate agent and was doing business that requires a professional license to sell real estate.  They also found evidence that she was marketing herself as a manager of a real estate company.   IDFPR records show that Ms. Gruzdis has never applied for or held a professional real estate license.

The Department is continuing to work with local and state law enforcement authorities to investigate the status of Ms. Albinger’s ownership of the farm in Monee and its financial state.

Violating the Cease and Desist could result in administrative fines of up to $25,000 per violation. 

A copy of the Order is posted here.