Microfinance

SKS Founder shifts into palatial mansion

by Diana Davis, published Wednesday, February 11 2009 2:15 PM

Vikram Akula bought a house at 1263 N. Lakeview Dr. in Palatine from David and Lisa Appleby for $855,000 on Oct. 20.The Applebys paid $612,500 for the 4,110-square-foot house in Jan. 2000. It was built in 2000.

Akula serves as the founder and CEO of SKS Microfinance, a microfinance institution in India which provides microloans and insurance to poor women. He also founded SKS Foundation, a nonprofit organization which supports the Ultra Poor Program.

He previously worked as a management consultant at McKinsey & Co., a researcher at the Worldwatch Institute and a community organizer with the Deccan Development Society in India. In 2006, Time magazine recognized him as one of the world’s 100 most influential people.

He received his B.A. from Tufts, his M.A. from Yale and his Ph.D. from the University of Chicago.

There were 482 home sales in Palatine in 2008, with a median sales price of $252,500.

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