Property Management in Chicago, IL

Top 28 Property Management Companies

  • Lofty Real Estate
    COMPANY

    License #: ?

    Lofty Real Estate

    Based on 5+ Reviews Show all


    Based on 19 Reviews Show all


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

    1212
    BASIC INFO

    844-355-6389

    1046 W Kinzie St, Chicago, IL 60642

    Areas Served
    Chicago

    11-50 employees BBB: N/A Since 2015

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    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.

  • Keyrenter Chicago North
    COMPANY

    License #: ?

    Keyrenter Chicago North

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    312-967-3111

    5875 N Lincoln Ave Ste LL-42, Chicago, IL 60659

    Areas Served
    Chicago North

    ? BBB: A+ Since 2007

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    Keyrenter offers 3 different service packages. The first package, "Lease Only," offers assistance to landlord who are just looking for tenants. This costs 75-100% of the first month's rent. The second package, "Full Property Management," offers comprehensive property management services for a continuous period of time. This costs about 5-10% of the monthly rent. There is also a third tier of full property management services that offers 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.

  • DMG Realty Group - Property Management, Leasing and Contracting
    COMPANY

    License #: ?

    DMG Realty Group - Property Management, Leasing and Contracting

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-572-9477

    10212 S Indianapolis Ave, Chicago, IL 60617

    Areas Served
    Chicago

    ? BBB: A Since 2007

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Fulton Grace Realty
    COMPANY

    License #: ?

    Fulton Grace Realty

    Based on 5+ Reviews Show all


    Based on 187 Reviews Show all


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

    9696
    BASIC INFO

    773-698-6648

    2901 N Halsted St, Chicago, IL 60657

    Areas Served
    Chicago

    51-200 employees BBB: A+ Since 2009

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    You can receive a personalized quote on the Fulton Grace's website based on your property type, amenities, and location. Typically, however, the property management fees for a single unit condos generally equal 7% of the monthly rental income. There are no hidden fees and the fine print is clear and concise.

  • Ardmore Winthrop Properties
    COMPANY

    License #: ?

    Ardmore Winthrop Properties

    Based on 5+ Reviews Show all


    Based on 29 Reviews Show all


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

    1717
    BASIC INFO

    773-989-8178

    5734 N Winthrop Ave, Chicago, IL 60660

    Areas Served
    Chicago

    ? BBB: N/A Since 2008

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • CL3 Property Management
    COMPANY

    License #: ?

    CL3 Property Management

    Based on 5+ Reviews Show all


    Based on 16 Reviews Show all


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

    1111
    BASIC INFO

    773-227-2388

    1337 W Wrightwood Ave #1, Chicago, IL 60614

    Areas Served
    Chicago

    1-10 employees BBB: N/A Since 2013

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    The majority of their rentals are $2,000 per month or higher and considered luxury rentals.

  • Open Path Realty
    COMPANY

    License #: ?

    Open Path Realty

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    872-256-6702

    1345 N Ashland Ave, Chicago, IL 60622

    Areas Served
    Chicago

    ? BBB: Not Accredited Since 2015

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    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.

  • Hales Property Management, Inc.
    COMPANY

    License #: ?

    Hales Property Management, Inc.

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    312-666-0149

    1411 W Chicago Ave #1, Chicago, IL 60642

    Areas Served
    Chicago

    11-50 employees BBB: A+ Since 2003

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Root Realty, Inc.
    COMPANY

    License #: ?

    Root Realty, Inc.

    Based on 3 Reviews Show all


    No Reviews Found


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

    33
    BASIC INFO

    773-348-6601

    1710 W Belmont Ave #1, Chicago, IL 60657

    Areas Served
    Chicago

    1-10 employees BBB: N/A Since 1983

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • TLC Management Co
    COMPANY

    License #: 478008911

    TLC Management Co

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    312-553-9070

    100 N LaSalle Dr #1200, Chicago, IL 60602

    Areas Served
    Chicago

    51-200 employees BBB: N/A Since 2008

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • CPG Management
    COMPANY

    License #: ?

    CPG Management

    Based on 5+ Reviews Show all


    Based on 14 Reviews Show all


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

    1010
    BASIC INFO

    773-234-3557

    3273 W Armitage Ave, Chicago, IL 60647

    Areas Served
    Chicago

    1-10 employees BBB: N/A Since ?

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Hayes Properties
    COMPANY

    License #: ?

    Hayes Properties

    Based on 5+ Reviews Show all


    Based on 43 Reviews Show all


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

    2424
    BASIC INFO

    773-929-7050

    4043 N Ravenswood Ave # 210, Chicago, IL 60613

    Areas Served
    Chicago

    51-200 employees BBB: N/A Since 1998

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    Residential Administrative Fee:$250 for all apartments.

  • Prairie Shores Property Management, LLC
    COMPANY

    License #: ?

    Prairie Shores Property Management, LLC

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-878-3300

    700 N Sacramento Blvd #301, Chicago, IL 60612

    Areas Served
    Chicago

    ? BBB: A+ Since 2010

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Green Ivy Realty & Property Management
    COMPANY

    License #: ?

    Green Ivy Realty & Property Management

    Based on 2 Reviews Show all


    Based on 16 Reviews Show all


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

    99
    BASIC INFO

    773-913-2525

    1818 W. Belmont Ave. Chicago, IL 60657

    Areas Served
    Chicago

    11-50 employees BBB: A+ Since 2007

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    Varies from 5% to 10% of the total gross monthly income.

  • Kass Management Services, Inc
    COMPANY

    License #: ?

    Kass Management Services, Inc

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-975-7234

    2000 N Racine Ave #4400, Chicago, IL 60614

    Areas Served
    Chicago

    51-200 employees BBB: A+ Since 1985

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Owl Management, LLC
    COMPANY

    License #: ?

    Owl Management, LLC

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-819-0446

    3047 N Lincoln Ave #208, Chicago, IL 60657

    Areas Served
    Chicago

    11-50 employees BBB: A Since 2007

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    $50 application fee.

  • Letts Property Management
    COMPANY

    License #: ?

    Letts Property Management

    Based on 5+ Reviews Show all


    Based on 1 Reviews Show all


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

    33
    BASIC INFO

    630-324-4267

    302 W 31st St, Chicago, IL 60616

    Areas Served
    Chicago

    11-50 employees BBB: A+ Since 2007

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    Standard 7% management fee to owners. *unit re-keyed is typically $62.50.

  • Habitat Co
    COMPANY

    License #: 481010232

    Habitat Co

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    312-337-1150

    1130 N Dearborn St, Chicago, IL 60610

    Areas Served
    Chicago

    501-1000 employees BBB: N/A Since 1971

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Mtd Property Management
    COMPANY

    License #: 478010738

    Mtd Property Management

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-290-1100

    4505 N Lincoln Ave, Chicago, IL 60625

    Areas Served
    Chicago

    ? BBB: A+ Since 1996

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Rosen Management Services
    COMPANY

    License #: ?

    Rosen Management Services

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-313-0025

    6310 N Lincoln Ave # 1, Chicago, IL 60659

    Areas Served
    Chicago

    11-50 employees BBB: N/A Since 1980

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Mac Properties - Chicago
    COMPANY

    License #: ?

    Mac Properties - Chicago

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    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

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Hunter Properties
    COMPANY

    License #: 478007959

    Hunter Properties

    Based on 5+ Reviews Show all


    Based on 1 Reviews Show all


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

    33
    BASIC INFO

    773-477-7070

    2057 W Addison St, Chicago, IL 60618

    Areas Served
    Chicago

    ? BBB: A+ Since 1993

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    $50.00 Application Fee *$350 Non-Refundable Administrative Fee

  • Hallmark & Johnson Property
    COMPANY

    License #: 478006023

    Hallmark & Johnson Property

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    773-545-6160

    6160 N Cicero Ave # 620, Chicago, IL 60646

    Areas Served
    Chicago

    ? BBB: N/A Since 1990

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Group Fox Property Management
    COMPANY

    License #: ?

    Group Fox Property Management

    Based on 5+ Reviews Show all


    Based on 148 Reviews Show all


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

    7777
    BASIC INFO

    773-267-5600

    411 E. Illinois St., Suite #80 Chicago, IL, 60611

    Areas Served
    Chicago

    51-200 employees BBB: N/A Since 2007

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    For every referral who signs a 12-month lease, you will receive $500 off your next month’s rent (limit is $1,000.00 per calendar year).

  • ICM Properties
    COMPANY

    License #: ?

    ICM Properties

    No Reviews Found


    Based on 235 Reviews Show all


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

    235235
    BASIC INFO

    773-549-5443

    1438 W Belmont Ave #1, Chicago, IL 60657

    Areas Served
    Chicago

    51-200 employees BBB: A+ Since 1966

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING

    Pet Registration Fee of $100.00 plus monthly $20.00 Pet Rent, per pet. *$300.00 referral bonus. *A late fee will be assessed after the 5th day of the month. Late fees are assessed at $10.00 for the first $500.00 of rent, plus 5% for any amount above $500.00

  • Lieberman Management Services
    COMPANY

    License #: 478008146

    Lieberman Management Services

    Based on 5+ Reviews Show all


    No Reviews Found


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

    55
    BASIC INFO

    312-202-9300

    230 W Monroe St #1550, Chicago, IL 60606

    Areas Served
    Chicago

    201-500 employees BBB: A+ Since 1971

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Realty & Mortgage Co
    COMPANY

    License #: 478001096

    Realty & Mortgage Co

    No Reviews Found


    No Reviews Found

    BASIC INFO

    773-549-8300

    928 W Diversey Pkwy, Chicago, IL 60614

    Areas Served
    Chicago

    11-50 employees BBB: A+ Since 1906

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    PRICING
  • Westward Property Management
    COMPANY

    License #: ?

    Westward Property Management

    No Reviews Found


    No Reviews Found

    BASIC INFO

    800-901-5431

    4311 N Ravenswood Ave, Chicago, IL 60613

    Areas Served
    Chicago

    51-200 employees BBB: A+ Since 2005

    SERVICE TYPES
    Residential
    Commercial
    Hoa
    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.