An ICO claiming to be investing into real estate, is either a scam or not worth it. If you want to invest in real estate then do it directly and don't go through any other means. The problem with a lot of ICOs they are just out there to earn a quick buck and don't actually care about the project.
There's a lot of ICO popping nowadays that have no viable project. There are even some that have successful ICOs but after that, the developers would just disappear. Regarding real estate, I am planning to invest on it too but not online. I prefer to see the real estate myself physically and I will be the one handling the finances because it's hard to trust nowadays.