Billionaire real estate investor was blunt spoken

Sam Zell, a Chicago real estate magnate who earned a multibillion-dollar fortune and a reputation as “the grave dancer” for his ability to revive moribund properties died Thursday. He was 81.

Zell died at home due to complications from a recent illness, according to Equity Group Investments, a company he founded in 1968.

Bearded and blunt-spoken, Zell reveled in bucking traditional wisdom. He had a golden touch with real estate, and got his start managing apartment buildings as a college student. By the time he reached his 70s, he had amassed a fortune estimated at $3.8 billion.