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You have a good profile for sure, and your stats should get you some attention from your target schools, but Kellogg and Chicago are two of the toughest schools to get into in the country, so you might come up with a backup plan just in case the old "luck of the draw" does not work in your favor. I always reccommend 5 or 6 school applications if you have time to do them. But recognizing you want to stay in the Chicago area, make sure you work that passion into the essays. It can certainly help if you have compelling reasons why you are a good fit and certainly maintaining your current roles and responsibilities in the community can be a good argument. This assumes of course that you are a pillar of the community. The other thing I will say is to be careful about your post MBA career goals. Lots of people use the MBA to switch careers, but schools like to see a good thread in your story which will set you up to be attractive to recruiters. you sound like what's known as a "double switcher" which is when someone switches both industry and function--this can sometimes be a red flag for schools. Remember, b-schools insist on having experience before you apply and they like to see a demonstration of success and aptitude in your chosen field. If you plan to show up without day one of real estate experience, expect them to scrutinize how you will make this change, especially with an MBA, which is not heavy in real estate preparation. You don't actually need an MBA to do real estate, so you might also consider applying for an MS in real estate development as an alternative.
