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 on 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,

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.

Zell sold Equity Office, the office-tower company he spent three decades building

to Blackstone Group for $39 billion in 2007