Property Management
in Chicago, IL

Top 28 Property Management Companies

Companies who earn the iPropertyManagement seal of approval have demonstrated a high standard of excellence for both owners and tenants in the field of property management.

Illinois

License #: ?

Lofty Real Estate

#1 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 19 Reviews Show all

844-355-6389
1046 W Kinzie St, Chicago, IL 60642
Areas Served Chicago
11-50 employees BBB: N/A
Since 2015
Residential
Commercial
Hoa
  • Lofty offers a simple per transaction plan to keep business costs low. It’s $75 a month, and $400 per deal.
  • Leasing transactions are $200 per deal.
  • Handles tenant screening and background checks with the owner having the final approval of applicants.
  • Tenants can make online rental payments
  • Net funds are directly deposited to the owner’s account with no transaction fees.
  • Bookkeeping includes monthly performance reports.
  • Offers assistance with setting market rental prices that attract renters.
  • Coordinates all repairs and maintenance with a network of trusted vendors.
  • Services include professional marketing of vacancies and showing units.
  • Handles all legal requirements with a network of expert legal partners.
  • Provides a 24/7 response for renter inquiries and maintenance requests.

License #: ?

Keyrenter Chicago North

#2 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

312-967-3111
5875 N Lincoln Ave Ste LL-42, Chicago, IL 60659
Areas Served Chicago North
? BBB: A+
Since 2007
Residential
Commercial
Hoa
  • Offers services to individual homeowners and real estate investors.
  • Manages homes, townhouses, condominiums, multi-family units, and apartment buildings.
  • Offers a lease-only program. This costs 75-100% of the first month’s rent.
  • Also offers full-service property management which includes owner’s web portal, advertising, tenant screening, leasing and lease agreement, monthly performance statements, property maintenance, and regular inspections. This costs about 5-10% of the monthly rent.
  • There is also a third tier of full property management services that has extra features. This costs 11% of the monthly rent amount. These prices depend on the rent price and the number of properties that require management.
  • Represents an owner in eviction proceedings as required.
  • A member of the National Association of Residential Property Managers (NARPM) and the National Apartment Association (NAA).

License #: 481.011759

GC Realty & Development, LLC

#3 best rated of 28 Chicago, IL property management companies

Based on 268 Reviews Show all

Based on 26 Reviews Show all

630-587-7400
219 E Irving Park Rd, Roselle, IL 60172
Areas Served Chicago and Sububs
11-50 BBB: A+
Since 2003
Residential
Commercial
Hoa

Residential

  • Specializes in management for Out Of State/Country Investors.
  • Manages single family homes, condos, townhomes and apartment complexes.
  • Management fees range between 8-10%.
  • Management agreement lease term lasts 1 year, but can cancel with a $350 termination fee with 30 days notice.

Commercial

  • Specialize in commercial spaces that are 50,000 square feet and under.
  • Management fees range between 4-6%.
  • Services include leasing, sales and asset management.

License #: ?

Fulton Grace Realty

#4 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 210 Reviews Show all

773-698-6648
2901 N Halsted St, Chicago, IL 60657
Areas Served Chicago
51-200 employees BBB: A+
Since 2009
Residential
Commercial
Hoa
  • Manages single-unit condos, homes, and multi-tenant apartment buildings.
  • Offers a lease-only service.
  • Also offers full-service property management that includes 24/7 tenant response, 2 hours of free monthly maintenance, online rent collection, direct deposits to owner’s account, move-in and move-out inspections, monthly accounting, and year-end financial reports.
  • Full-service fees are 7% of the monthly rent for single units. There are discounted fees for multiple units.

Serves only properties located in certain neighborhoods of Chicago that include:

  • Downtown: River North, Gold Coast, Streeterville, River West, South Loop, Loop, West Loop, and Fulton Market.
  • North Chicago: Wrigleyville, Lake View, Albany Park, Lincoln Park, Avondale, Old Town, Lincoln Square, and Andersonville.
  • West Chicago: Ukrainian Village, West Town, Pilsen, and Humboldt Park.
  • North West Chicago: Logan Square, Irving Park, and Wicker Park.
  • South Chicago: Bridgeport, Hyde Park, and Bronzeville.
  • Other neighborhoods will be considered on a case-by-case basis.

License #: ?

Ardmore Winthrop Properties

#5 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 29 Reviews Show all

773-989-8178
5734 N Winthrop Ave, Chicago, IL 60660
Areas Served Chicago
? BBB: N/A
Since 2008
Residential
Commercial
Hoa
  • Manages eight buildings in North Chicago that are owned by the company.
  • All buildings are located in the Edgewater neighborhood between the 5400 and 5700 blocks on North Winthrop Avenue.

License #: ?

DMG Realty Group - Property Management, Leasing and Contracting

#6 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

773-572-9477
10212 S Indianapolis Ave, Chicago, IL 60617
Areas Served Chicago
? BBB: A
Since 2007
Residential
Commercial
Hoa
  • Full-service property management including tenant screening, leasing, maintenance, and repairs.
  • Owner’s web portal for property reports.
  • Tenant portal for maintenance requests.
  • Rent can be paid online or in cash at Walmart, CVS, 7-Eleven, and Currency Exchange.
  • Online tenant applications for faster application screening.
  • In-house maintenance staff and in-house building contractor.

License #: ?

CL3 Property Management

#7 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 26 Reviews Show all

773-227-2388
1337 W Wrightwood Ave #1, Chicago, IL 60614
Areas Served Chicago
1-10 employees BBB: N/A
Since 2013
Residential
Commercial
Hoa
  • Manages single-family homes, townhomes, and multi-unit residential buildings.
  • Specializes in properties with out-of-town and foreign owners.
  • The majority of the rentals that are managed rent for $2,000 per month or higher and are considered luxury rentals.
  • Works with third-party relocation-services companies.
  • Offers full-service property management that includes tenant screening, leasing, legal agreements and documentation, managing security deposits, and collecting rents.
  • Provides a 24/7 response to tenant requests for maintenance and emergency service.
  • Manages third-party vendors for maintenance and repair work.
  • Prepares accounting monthly reports and annual financial statements.
  • Deals with enforcement and collection of late fees for delinquent rent.
  • Coordinates with the property owner, attorney, and tenant evictions as required.
  • Provides documentation of move-in and move-out inspections with videos, photos, and written reports.

License #: ?

Hales Property Management, Inc.

#8 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

312-666-0149
1411 W Chicago Ave #1, Chicago, IL 60642
Areas Served Chicago
11-50 employees BBB: A+
Since 2003
Residential
Commercial
Hoa
  • Specializes in condominiums.
  • Provides condominium owner’s association (COA) management and condominium rental management using web portals for information and rent collection.
  • Manages more than 200 condominium buildings in Chicago.
  • COA management services include capital improvement projects, financial/budget management, and condominium legal issues.
  • COA management is offered at two levels. One is a basic level for smaller buildings with the owner taking more hands-on responsibility. The other advanced level is for larger buildings and includes comprehensive COA management services that include a licensed Community Association Manager (CAM) dedicated to the building with dedicated administration, accounting, and operational departments’ staff. Access to a network of preferred third-party vendors with bulk-rate prices.
  • Condominium rental management services include tenant screening, leasing, rent collection, maintenance, repairs, real-time accounting reports, and 24/7 emergency response for tenants.

License #: ?

Mac Properties - Chicago

#9 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

773-548-5077
1364 E 53rd St, Chicago, IL 60615
Areas Served Chicago, St Louis, MO, Kansas City, MO
201-500 employees BBB: A+
Since 2002
Residential
Commercial
Hoa
  • Builds, restores, renovates, and manages properties.
  • Manages residential and commercial properties in the historic neighborhood of Hyde Park in Chicago.
  • Manages high-rise residential buildings of up to 30 stories with 1,000 apartments.
  • Managed properties include the luxury Regents Park and the fully-furnished units at 5300 Drexel Terrace.
  • Manages commercial space for over 75 business locations that range from 350 square feet to more than 5,000 square feet.

License #: ?

Hayes Properties

#10 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 43 Reviews Show all

773-929-7050
4043 N Ravenswood Ave # 210, Chicago, IL 60613
Areas Served Chicago
51-200 employees BBB: N/A
Since 1998
Residential
Commercial
Hoa
  • Manages commercial and multi-unit residential properties owned by the company.
  • Apartment buildings are located in the Chicago neighborhoods of Lincoln Square, Lincoln Park, Ravenswood, and Lakeview.
  • Charges a residential administrative fee of $250 for all apartments.
  • Owns and manages commercial and industrial buildings in Ravenswood with rental spaces of 500 square feet to over 20,000 square feet.

License #: ?

CPG Management

#11 best rated of 28 Chicago, IL property management companies

No Reviews Found Show all

Based on 15 Reviews Show all

773-234-3557
3273 W Armitage Ave, Chicago, IL 60647
Areas Served Chicago
1-10 employees BBB: N/A
Since ?
Residential
Commercial
Hoa
  • Manages properties and building communities.
  • Offers rental management for single-family homes, townhomes, condominiums, and multi-unit apartment buildings.
  • Services include vacant rental unit showings, tenant applicant screening, and property maintenance management.

License #: ?

Open Path Realty

#12 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

872-256-6702
1345 N Ashland Ave, Chicago, IL 60622
Areas Served Chicago
? BBB: Not Accredited
Since 2015
Residential
Commercial
Hoa
  • Manages single-family homes, townhomes, condos, apartment buildings, and commercial real estate.
  • Typically, the property management fees range from 5% to 9% of the gross monthly rent. The fees can vary depending on the property’s size, location, number of units, and amenities.
  • Property management services include responding to tenant inquiries and maintenance requests.
  • Services include showing and leasing of vacant units.
  • Handles routine maintenance and scheduled maintenance for lawn care and snow removal.
  • Manages third-party service providers for repair work.
  • Takes care of rent collection and makes direct deposits to the owner’s account.
  • Holds security deposits in a trust account.
  • Prepares monthly financial statements for owners.
  • A month-to-month property management contract is used with fees of 5% to 9% of the gross monthly rent.
  • Owners may cancel the management contract at any time.

License #: ?

Green Ivy Realty & Property Management

#13 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 16 Reviews Show all

773-913-2525
1818 W. Belmont Ave. Chicago, IL 60657
Areas Served Chicago
11-50 employees BBB: A+
Since 2007
Residential
Commercial
Hoa
  • Offers leasing services, rental management, and association management.
  • A month-to-month property management agreement has the fees of 5% to 10% of the gross monthly income.
  • Manages single-family homes, condos, townhomes, two- to four-unit multi-family housing, and apartment buildings of up to 20 units.
  • Leasing services include market analysis for rents, advertising, showing vacant units, and tenant screening. Leasing commissions are one month’s rent.
  • Rental management services include rent collection, security deposit holding, late fee collection, and evictions if necessary. Repairs and maintenance including 24/7 on-call emergency maintenance services.
  • Prepares the accounting with monthly reports and year-end financial statements.
  • Offers an online web portal for owners.
  • Owners may cancel the management contract at any time.

License #: ?

Westward Property Management

#14 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

800-901-5431
4311 N Ravenswood Ave, Chicago, IL 60613
Areas Served Chicago
51-200 employees BBB: A+
Since 2005
Residential
Commercial
Hoa
  • Offers rental management, association management, and property maintenance services.
  • Manages single-unit condominiums, multi-family properties, and apartment buildings with no more than 400 units.
  • Rental management software is available online for real-time owner information.
  • Rental management services include a certified property manager and an assistant manager for each building with the support of the maintenance division.
  • Maintenance services include cleaning, routine maintenance, repairs, major project scheduling, and 24-hour emergency response.
  • Financial management services include rent collection, ACH (electronic) payments to the owner’s account, daily bookkeeping, monthly reports, and year-end financial statements.
  • Leasing services include marketing vacant units, showing properties, tenant screening, lease preparation, lease signing, and enforcement of the lease terms.
  • Association management includes financial services, budgeting, bill paying, property inspections, and maintenance.
  • There are three levels of association management services offered, which are full-service management, premium full-service that includes the full service plus a dedicated property manager, and custom on-site management.

License #: 478010738

Mtd Property Management

#15 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

773-290-1100
4505 N Lincoln Ave, Chicago, IL 60625
Areas Served Chicago
? BBB: A+
Since 1996
Residential
Commercial
Hoa
  • Offers residential management services and condominium association services.
  • Residential management services include showing vacant units, leasing, rent collection and deposits to owner’s account, expense payments, management reports, response to tenant inquiries, coordination of maintenance requests, and the supervision of move-in and move-out activities with inspections.
  • Financial services included with residential management are the preparation of financial statements, budgeting, insurance administration, energy-expense analysis, and evaluation of bids for major repairs or renovations.
  • Condominium association management includes development and implementation of policies and procedures, budgets and financial statements, collection of owners’ assessments, making payments for common-area expenses, responding to residents’ inquiries, organizing board meetings and annual general meetings, preparing management reports, conducting energy-expense analysis, insurance administration, and enforcement of bylaws, rules, and regulations. It also includes the supervision of maintenance personnel and coordination of the move-ins and move-outs for rented units.

License #: ?

Prairie Shores Property Management, LLC

#16 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

773-878-3300
700 N Sacramento Blvd #301, Chicago, IL 60612
Areas Served Chicago
? BBB: A+
Since 2010
Residential
Commercial
Hoa
  • Offers association and property management services to condominium associations, townhome associations, HOAs, and cooperative buildings.
  • Specializes in historic and vintage buildings.
  • Financial services include preparing monthly statements and annual financial reports.
  • Supervises building staff and the maintenance of common areas.
  • Conducts a full review of the governing association’s documents.
  • Supervises the enforcement of rules and regulations.
  • Assists with tax benefits for preservation.
  • Collects owners’ assessments and processes late fee demands for delinquent accounts.
  • Attends all Board of Directors meetings.
  • Conducts scheduled property inspections.
  • Assists with all maintenance, repairs, and renovations.
  • Assists with sales and refinancing.

License #: 478008911

TLC Management Co

#17 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

312-553-9070
100 N LaSalle Dr #1200, Chicago, IL 60602
Areas Served Chicago
51-200 employees BBB: N/A
Since 2008
Residential
Commercial
Hoa
  • Owns and manages its own properties in Chicago and the suburbs of Evanston.
  • All properties in Chicago are along the lake in the neighborhoods of Edgewater, Lakeview, River North, Buena Park, Hyde Park, Lincoln Park, Printers Row, and Southshore.

License #: ?

Kass Management Services, Inc

#18 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

773-975-7234
2000 N Racine Ave #4400, Chicago, IL 60614
Areas Served Chicago
51-200 employees BBB: A+
Since 1985
Residential
Commercial
Hoa
  • Offers residential, condominium, and commercial management.
  • Services include residential management for properties that have from three units up to 200 units. Condominium management is for properties that have from three units up to 250 units. Commercial management is for one property to multiple buildings in a commercial real estate portfolio.

Residential management services include these activities:

  • Conducts risk assessment and ongoing safety evaluations.
  • Develops and enforces tenant rules.
  • Creates a custom operating manual for each building.
  • Assigns staff members that include a senior and a dedicated property manager, a senior and a dedicated bookkeeper and a leasing specialist.
  • Supervises building maintenance and janitorial staff, operations, and repairs.
  • Manages preventative maintenance program.
  • Conducts unit inspections for move-ins and move-outs.
  • Handles rent collection and delinquent account processing.
  • Makes payments for operating bills.
  • Prepares financial reports for the owners.
  • Manages lease renewals.
  • Markets vacant units.
  • Conducts all tenant screenings.
  • Prepares lease agreements and handles the signing process.
  • Handles tenant inquiries and maintenance/repair requests.
  • Offers a 24/7 emergency response system.

Condominium association management services include these activities:

  • Conducts a security and safety risk assessment.
  • Creates a custom operating manual for each association.
  • Assigns staff members that include a senior and a dedicated property manager, a senior and a dedicated bookkeeper and a leasing specialist.
  • Handles daily management of building operations.
  • Conducts frequent property inspections.
  • Attends all Board meetings.
  • Prepares expense forecasting and preparation of annual budgets.
  • Takes care of owners’ assessment collection and delinquent account processing.
  • Pays operating bills.
  • Offers a web portal for accounting, financial reports, and association information.
  • Establishes third-party vendor relationships.
  • Creates a proactive program for routine maintenance.
  • Manages on-site staff, janitorial, and maintenance workers.
  • Handles insurance administration.
  • Offers a 24/7 emergency response system.

Commercial property management services include these activities:

  • Conducts a risk assessment and creates a disaster recovery plan.
  • Assigns staff members that include a senior and a dedicated property manager, a senior and a dedicated bookkeeper and a leasing specialist.
  • Handles the selection of and negotiation with third-party vendors.
  • Manages and supervises maintenance staff and subcontractors.
  • Takes care of rent collection and assists in the collection of delinquent accounts.
  • Pays operating bills.
  • Prepares monthly accounting and year-end financial reports.
  • Lease renewals are handled at no extra charge.

License #: ?

Letts Property Management

#19 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 3 Reviews Show all

630-324-4267
302 W 31st St, Chicago, IL 60616
Areas Served Chicago
11-50 employees BBB: A+
Since 2007
Residential
Commercial
Hoa
  • Manages single-family homes, condos, and apartment buildings.
  • Offers a standard 7% management fee to owners.
  • Provides property management, leasing, maintenance, rehab, and construction services.
  • Property management includes advertising, marketing of vacancies, tenant screening, lease agreement preparation, lease signing, move-in inspection and supervision, rent collection, regular maintenance, and emergency maintenance with a 24/7 tenant-response system. It also includes a semi-annual inspection of ongoing tenants.
  • Financial services that are part of property management include a web portal that shows monthly accounting and annual reports.
  • Eviction help is offered if necessary.
  • In-house maintenance staff is available, along with third-party contractors that are used to make repairs.

License #: 478006023

Hallmark & Johnson Property

#20 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

No Reviews Found

773-545-6160
6160 N Cicero Ave # 620, Chicago, IL 60646
Areas Served Chicago
? BBB: N/A
Since 1990
Residential
Commercial
Hoa
  • Manages residential apartment buildings and commercial retail space.
  • Specializes in commercial strip stores.
  • Handles application processing and tenant screening.
  • Manges advertising and marketing of vacancies.
  • Takes care of all leasing requirements.
  • Manages the rent collection process.
  • Supervises property maintenance.
  • Prepares accounting.
  • Eviction coordination is done with an attorney if necessary.

License #: ?

ICM Properties

#21 best rated of 28 Chicago, IL property management companies

Based on 5+ Reviews Show all

Based on 233 Reviews Show all

773-549-5443
1438 W Belmont Ave #1, Chicago, IL 60657
Areas Served Chicago
51-200 employees BBB: A+
Since 1966
Residential
Commercial
Hoa
  • This is a full-service property management company.
  • Focuses on multi-family residential properties.
  • Manages more than 2,000 apartment units on Chicago’s North Side.
  • ICM Properties is one of the largest residential management companies in this area.
  • There are two fully-staffed offices with property managers, leasing consultants, and maintenance workers.
  • Dedicated building engineers are provided.
  • Offers a 24/7 emergency response system.

License #: ?

Group Fox Property Management

#22 best rated of 28 Chicago, IL property management companies

No Reviews Found Show all

Based on 157 Reviews Show all

773-267-5600
411 E. Illinois St., Suite #80 Chicago, IL, 60611
Areas Served Chicago
51-200 employees BBB: N/A
Since 2007
Residential
Commercial
Hoa
  • Manages its own residential apartment buildings in the neighborhoods of Buena Park, Edgewater, Evanston, Gold Coast, Hoffman Estates, Lakeview, Lincoln Park, Lincoln Square, Ravenswood, Roeger Park, South Loop, Streeterville, Uptown, and Wicker Park.

License #: 478007959

Hunter Properties

#23 best rated of 28 Chicago, IL property management companies

No Reviews Found Show all

Based on 1 Reviews Show all

773-477-7070
2057 W Addison St, Chicago, IL 60618
Areas Served Chicago
? BBB: A+
Since 1993
Residential
Commercial
Hoa
  • Manages more than 2,500 apartments in 60 Chicago locations.
  • This is a full-service building management company.
  • Offers 24/7 emergency service system.

License #: 481010232

Habitat Co

No Reviews Found Show all

No Reviews Found

312-337-1150
1130 N Dearborn St, Chicago, IL 60610
Areas Served Chicago
501-1000 employees BBB: N/A
Since 1971
Residential
Commercial
Hoa
  • Manages rental residences (90 properties with a total of 23,000 units), condominium associations, affordable housing (12,000 units), and commercial properties.

Rental residence management services include:

  • Offers full-service property management.
  • Gives online access to real-time financial records.
  • Handles advertising, branding, and marketing.
  • Condominium management services include:
  • Offers Board support.
  • Services include Online access to real-time financial records.
  • Maintains legal compliance.
  • Conducts weekly on-site inspections.

Affordable housing management services include:

  • Provides a safe and secure living space for seniors and low-income families.
  • Maintains legal compliance.
  • Services include accountability, assessment, and quality control.
  • Manages the waiting list process.

License #: ?

Owl Management, LLC

No Reviews Found Show all

No Reviews Found

773-819-0446
3047 N Lincoln Ave #208, Chicago, IL 60657
Areas Served Chicago
11-50 employees BBB: A
Since 2007
Residential
Commercial
Hoa
  • Offers leasing services and rental property management.
  • Manages single-family homes, single-unit condos, townhomes, apartment buildings, and commercial properties.

Leasing services include these activities:

  • Offers on-site consultation to help stage a property for showings.
  • Posts vacancies on the Multiple Listing Service (MLS).
  • Marketing is placed on over 30 websites that include Craigslist, Google maps, Hotpads, Trulia, Zillow, and others.
  • Answers inquiries, managing keys, access, and showing the vacant unit.
  • Screens all applicants.
  • Handles lease negotiations.
  • Creates lease agreements and handles lease signing.
  • Conducts move-in and move-out inspections.
  • Takes care of lease renewals.

Property management services include these activities:

  • Offers an online web portal for owners.
  • Handles rent collection and makes deposits to the owner’s account.
  • Enforces late payment penalties.
  • Services include the administration of tenant relations including 24-hour emergency response system.
  • Supervises cleaning, landscaping, and maintenance services provided by third-party vendors.
  • Negotiates pricing with vendors.
  • Pays operating bills and mortgage payments if desired.
  • Supervises on-site personnel.
  • Manages emergency and non-emergency repairs.
  • Conducts preventative maintenance.
  • Financial services include help with budgets, monthly reports, and annual financial statements.
  • Collaborates with the tax accountant for income tax filings.
  • Handles allInsurance administration and claims management.
  • Coordinates evictions with an attorney.

License #: 478001096

Realty & Mortgage Co

No Reviews Found Show all

No Reviews Found

773-549-8300
928 W Diversey Pkwy, Chicago, IL 60614
Areas Served Chicago
11-50 employees BBB: A+
Since 1906
Residential
Commercial
Hoa
  • Manages residential apartment buildings and commercial properties.
  • Offers full-service property management.
  • Conducts a property assessment that includes market analysis for competitive rental pricing.
  • Creates a marketing strategy that includes branding and on-site property signage.
  • Manages advertising management.
  • Evaluates on-site employees.
  • Conducts employee training sessions.
  • Meets weekly with the sales team.
  • Manages the employee incentive program.
  • Evaluates model apartments.
  • Builds a targeted community-outreach program.
  • Manages tenant-referral programs.
  • Monitors marketing performance.
  • Operation services include monitoring utility usage, maintenance, repairs, and renovations.
  • Takes care of preventative maintenance scheduling and supervision.
  • Evaluates maintenance staff.
  • Evaluates security risk.
  • Implements enhanced security measures.
  • Sets up an emergency recovery and disaster plan.
  • Develops or enhances a recycling program.
  • Coordinates tenant move-ins and move-outs with inspections.
  • Accounting services include bookkeeping for receipts and expenses, payroll processing, and tax deposits.
  • Assists with annual budgeting.
  • Prepares monthly accounting and annual financial reporting.

License #: ?

Root Realty, Inc.

No Reviews Found Show all

No Reviews Found

773-348-6601
1710 W Belmont Ave #1, Chicago, IL 60657
Areas Served Chicago
1-10 employees BBB: N/A
Since 1983
Residential
Commercial
Hoa
  • Manages residential apartment buildings, mixed-use complexes, and commercial properties.
  • Provides leasing services.
  • Handles tenant relations
  • Collects rents and pays the bills.
  • Creates monthly reports.
  • Manages maintenance and repairs.
  • Offers a 24-hour emergency response system.

License #: ?

Rosen Management Services

No Reviews Found Show all

No Reviews Found

773-313-0025
6310 N Lincoln Ave # 1, Chicago, IL 60659
Areas Served Chicago
11-50 employees BBB: N/A
Since 1980
Residential
Commercial
Hoa
  • Offers full-service property management for apartment buildings, condominium buildings, cooperatives, and community associations.
  • Works with lofts, historic properties, new construction, walkups, townhouses, and high-rise buildings.
  • Has a web portal for owners.
  • Makes recommendations for policies, rules, and regulations.
  • Attends all association meetings.
  • Prepares a utility cost analysis with recommendations for energy-saving and cost-efficient alternatives.
  • Administration services include having a 24-hours on-call property manager,
  • Accounting services include monthly financial statements, cost monitoring, and budget analysis.
  • Collection of owners’ assessments, processing automatic assessment payments, monitoring online payments, and tracking of extra charges as needed.
  • Handles sending collection letters to delinquent accounts.
  • Works with legal counsel if needed.
  • Reviews payments against invoice documentation and maintenance work orders.
  • Pays operating bills.
  • Prepares year-end documentation and reports for tax returns.
  • Works with association’s CPA to file tax returns.
  • Maintenance services include preventative maintenance, scheduled maintenance, and emergency repairs.
  • Conducts regular inspections of common areas.
  • Supervises janitorial personnel.
  • Evaluates third-party vendors and negotiates for discount bulk-pricing.

Chicago vs Nearby Cities

Chicago offers some of the lowest real estate prices in northwestern Illinois. Home values are securely above $300,000 in most surrounding cities, but the median home value in Chicago tends to stay below $250,000. Median listing prices for homes in Evanston, Naperville and Arlington Heights are well above $300,000, but listing prices seen in the Windy City are substantially lower. While you can expect to pay around $200 per square foot in Chicago, you will pay much more in these surrounding towns. While home prices are rising quickly in many Illinois cities, the market is much cooler in Chicago.

With the exception of the last housing crash in the U.S., the Chicago real estate market is doing well and keeping a steady pace. Compared to other major cities in the U.S., Chicago is very affordable. There are lots of properties available in the city and the population is increasingly diverse. Lots of young people across the country choose Chicago because there is so much opportunity and culture.

The affordability of the city can be attributed to the gap in supply and demand. Chicago’s vacancy rate has risen in recent years, meaning there are more rental units than there are tenants to fill them. This means tenants in Chicago are able to find better deals on high-quality housing. As a result, the rental growth in Chicago has remained relatively flat over the past year. This is definitely a factor a landlord must consider when managing rental property in this area. However, the surge in the number of renters in recent years has given landlords more opportunities. Landlords can also score good deals on investment properties since the homeownership rate in Chicago has dropped. Here are some statistics on the Chicago real estate market on the city level:

  • Median Property Price: $446,995
  • Monthly Traditional Rental Income: $1,866
  • Monthly Airbnb Rental Income: $1,714
  • Traditional Cap Rate: 0.71%
  • Airbnb Cap Rate: 0.59%
  • Traditional Cash on Cash Return: 0.71%
  • Airbnb Cash on Cash Return: 0.59%

Chicago Property Managers

Are you struggling to stay on top of managerial duties for your rental property? Whether you have too many properties to track alone or you live too far away to effectively manage your investment, a manager can serve as your representative. They can handle simple tasks like showing units to potential tenants, or you can give them complete control of the day-to-day managerial tasks. Lots of property management companies offer different packages or tiers of services, so you can be sure to find one that suits your unique business’s needs.

Chicago is among the largest cities in the U.S. — it’s a bustling metropolitan area full of culture and opportunity. For this reason, you can expect to find a wide selection of distinguished property managers with years of experience and an abundance of knowledge on real estate in Chicago. Chicago is a huge city with lots of people, so property managers in this city have a good idea of the different neighborhoods and demographics. If you own an income property in Chicago but don’t currently reside there, try to find a property manager that Most companies are certified by the Better Business Bureau (BBB) and tend to have a rating of A- or higher.

Because of Chicago’s role as a national hub, there are also numerous property management companies that operate on a national basis. These are noteworthy companies that have been in business for years, managing all kinds of properties across the U.S. They are trusted entities in the real estate world and can help you reach your business goals. Chicago is a land of opportunity and there is great education across the city. Property managers and real estate agents here have a sharpened set of skills to help you navigate the real estate business in Chicago.

Chicago Property Management Company Fees

Most property managers will determine their fee based on the amount of rent collected from your rental property. They will identify specific services that are included in that fee, and you will need to arrange additional payment to cover other services. For instance, you may need to pay more if you want your manager to handle marketing for your property. Some companies also offer other resources at an extra cost, such as information aids, real estate events, management software, advising, and more. All of this depends on what you need to make your rental business as successful as possible.

In Chicago, most companies offer three tiers of services. The first is usually a one-time transaction that provides help with advertising your property and filling a vacancy. The next tie tends to be a fundamental range of services for property management. These services are often offered in the third tier, along with additional resources like access to online classes or real estate software. Prices vary from company to company, but many companies charge a certain percentage of the monthly rent. However, a handful of companies have fixed rates based on the number of units you need help managing. For one-time services, customers are typically charged a flat fee of $100-$300. Prices also depend on your specific property or properties.

Property managers consider elements like the number of units, the size of the property, the type of property (i.e. townhouse, condo, etc.), the number of tenants, and the location to give you a quote for your property. Most of the companies in Chicago offer services for residential properties, but there are companies that can also help you with commercial properties and HOAs. Make sure you do your research beforehand so you understand the pricing and are sure there are no hidden fees. It’s also important to identify your specific property’s needs and what your location offers. Chicago is a big city full of small towns, with lots of close-knit communities offering different scenes and lifestyles. Every neighborhood and property is different, so you have to ensure the manager you choose understands all of the important factors.

Illinois Landlord/Tenant Laws

  • There are no cities with rent control laws in Illinois, so landlords are unrestricted when setting rental rates.
  • Landlords are also unrestricted when setting their late fees, but they can only charge this fee if the terms and amount are clearly stated in the rental agreement.
  • The Chicago Landlord Tenant Ordinance has been in effect since 1986 and outlines a few requirements for rental properties:
    • All rental units in Chicago covered by a written or oral lease are under the jurisdiction of the ordinance, with the exception of units the owner occupies with 6 or fewer units, hotels, motels, and rooming houses (unless the tenant pays rent on a monthly basis and the unit is occupied for over 32 days), school dormitories, shelters, employees’ quarters, non-residential rental properties, and co-ops/condominiums that the owner occupies.
      Landlords must give the tenants written notice of the owner’s or property manager’s name, address, and telephone number.
    • The landlord must give new or renewing tenants a notice of code violations issued by the city in the previous year.
    • The landlord cannot require a renter to renew a lease more than 90 days prior to the end of the current lease.
    • Landlords must give tenants 30 days written notice if the lease will not be renewed. If the landlord fails to do this, the tenant can stay in the property for 60 days after the lease ends under the same terms and conditions of the previous lease.
    • The landlord must maintain the property in compliance with municipal codes.
    • Landlords have the right to access the unit as long as they give the tenant a two-day notice.
    • For security deposits, the landlord must give tenants a receipt for them to sign. The landlord must hold the security deposit in a federally insured interest-bearing account in a financial institution located in the state of Illinois. Security deposits are meant to be returned to the tenant (with deductions for damages, if any) within 45 days after the lease ends.
    • If a tenant does not pay the rent on time, the landlord can charge a $10 fee for the first $500 and a 5% fee for the remaining portion of the rent over $500. This means that a tenant with a $500 rent must pay $10 while a tenant with a $1000 rent must pay $35.
  • To read other important rules and access the ordinance in full, click here.