Online Broker Trades Stocks For Strings

After David Kalt co-founded an online brokerage company and sold it to Charles Schwab for $1 billion, there was only one thing left to do.

Rock on.

That’s why he bought the Chicago Music Exchange, a guitar store at 3316 N. Lincoln Ave. near the border of Roscoe Village and Lake View.

The 45-year-old Glencoe resident bought the guitar store as a retirement project, but has done anything but stopped working. Revenues have more than doubled to $8.5 million, Crain’s Chicago reports. 

In 2010, Kalt added 10,000 square feet for a drum shop and extra guitar space. Now, music lovers can find normal guitars as well as rare and high-end ones. 

The rare guitars in Kalt’s store have attracted stars like Adele and Johnny Depp.

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Check out the full story in Crain’s Chicago to learn Kalt’s newest venture.