How Commercial Property Management Boosts Profitability in Chicago

Investing in commercial real estate in Chicago presents a tremendous opportunity for property owners and investors. With the proper care, a commercial property can deliver a high level of profitability. However, maximizing profitability requires strategic management to optimize cash flow, reduce expenses, and increase property value. Professional Chicago commercial property management plays a crucial role in achieving these goals. Here’s how expert property management increases a commercial building's profitability in the competitive Chicago market.

1. Maximizing Rental Income

One of the primary ways a commercial property management firm enhances profitability is by setting competitive rental rates and ensuring maximum occupancy. Professional Chicago property managers conduct thorough market analysis to determine optimal lease pricing while remaining competitive in Chicago’s dynamic real estate market. A good commercial management team will also implement tenant retention strategies to minimize vacancies and maintain a steady cash flow.

2. Reducing Operating Costs

Effective commercial property management focuses on cost efficiency without sacrificing quality. Property managers negotiate vendor contracts for maintenance, cleaning, and security services, securing the best rates through established industry relationships. By working with an experienced Chicago property management company like PRG Management, you can benefit from the extensive network of trusted vendors for a huge variety of situations. Additionally, routine property inspections and proactive maintenance help prevent costly emergency repairs and extend the lifespan of key assets.

3. Ensuring Compliance & Risk Mitigation

Chicago’s commercial real estate sector comes with its own set of various special regulations, including zoning laws, safety codes, and tax assessments. A professional property management team ensures full compliance with local, state, and federal laws, reducing the risk of fines, legal disputes, and liabilities. This proactive approach safeguards your investment while minimizing unexpected expenses that can arise from legal liabilities. PRG Management ensures our property managers are always up to date on local and federal changes so we can better serve our clients.

4. Efficient Lease Management & Tenant Relations

Just like residential investments, a commercial investment’s source of income is its tenants. Strong tenant relationships lead to higher satisfaction and long-term lease agreements, securing a stable revenue stream. Maintaining these relationships and efficiently handling lease negotiations, renewals, and enforcement requires expertise to protect the owner's interests. When there is no one to ensure tenant satisfaction you run the risk of losing their trust with larger financial pitfalls down the line. The property managers at PRG Management ensure leases are structured with favorable terms, enforce timely rent collection, and mitigate disputes. 

5. Enhancing Property Value & Preventative Maintenance

Well-maintained commercial properties command higher rental rates and attract quality tenants. This includes not only maintaining the grounds around the property but modernizing the property as well. A dedicated management team oversees renovations, curb appeal improvements, and energy-efficient upgrades, all of which contribute to long-term appreciation. An experienced commercial property management team will also perform regular preventative maintenance efforts that align with enhancing a property’s value. 

6. Leveraging Technology & Data Analytics

Modern property management companies like PRG Management, use cutting-edge technology and data-driven insights to optimize operations. Predictive maintenance software, digital lease management systems, and real-time financial reporting provide transparency and efficiency, allowing owners to make informed investment decisions and maximize profitability. Clients who work with PRG Management get access to an app and dashboard that provides key statistics, documentation, and a portal for tenant communications.

Partnering with PRG Management for Chicago Commercial Property Management

PRG Management specializes in managing commercial and investment properties across Chicagoland, ensuring our clients achieve maximum returns on their investments. Our full-service approach includes tenant & lease management, financial oversight, and strategic property improvements tailored to the unique needs of each property owner and investment property.

By leveraging our expertise through years of experience, strong vendor relationships, and cutting-edge technology, we help investors and owners navigate Chicago’s commercial real estate landscape with confidence and most importantly, profitability.

Are you looking to maximize the profitability of your commercial property in Chicago? Contact PRG Management today to learn how our expert property management services can help you achieve your financial goals or fill out the form below to get a FREE management proposal.

Now Managing: The Seng Chicago | 869 W Blackhawk St

PRG Management is proud to announce our newest management assignment at The Seng, one of Northside’s new construction housing projects. Situated at the intersection of some of Chicago’s most popular neighborhoods, this 5-story, 34-unit building is one of the city’s new efforts to provide more affordable housing options for residents. This new service agreement between PRG Management and The Seng gives both parties the tools to provide our top-rated Chicago HOA management services such as preventative maintenance, janitorial services, financial services, and board meeting management. 

The Seng (34 units) + PRG Management

The Seng, along with the Chicago Housing Trust, have aimed their sights on making housing more accessible and providing a lower barrier to entry into homeownership. They offer units at below-market prices to those who qualify - applicants need to be certified by the Chicago Housing Trust team and cleared as ‘income-eligible’ and ‘mortgage-ready’ before placing an offer on a unit at The Seng. This provides a chance for families to attain stable homeownership in an area with expanding opportunities. By utilizing PRG Management’s HOA services the Seng can better focus on their mission of providing safe and affordable homeownership for Chicago residents.

CUSTOMIZED SOLUTIONS FOR AFFORDABLE HOUSING

PRG Management is responsible for managing The Seng Chicago by providing a wide range of HOA property management services, including but not limited to financial management, preventative maintenance, board meeting management, and administrative support. PRG Management will provide equitable and efficient management services in individual units, as well as the management of common elements such as the attached heated garage, bike storage, gym, and amenity roof deck. By meeting the unique needs of The Seng and its residents with custom management services, PRG Management’s Chicago HOA team will provide stability and confidence in the day-to-day operations of the building.

about prg management

PRG Property Management is a full-service property management company, home to a team of reliable and accomplished brokers, distinguished property managers, and incredible support staff. PRG Management offers a broad range of services for HOAs, rentals, investment buildings, and a wide range of commercial projects to effectively manage commercial and residential real estate in Chicago and surrounding suburbs. If you’re interested in stress-free property management contact us today for a free proposal and more information on our HOA & condo management services.

2024 Chicago Winterization Guide: Fall Checklist for Homeowners & Renters

2024 Chicago Winterization Guide: Preparing Your Home for Cold Weather

Winter in Chicago is both beautiful and brutal, bringing freezing temperatures, heavy snowfall, and ice that left unattended, can lead to some major problems when managing or owning property. First-time homeowners may be asking "How to winterize properties in Chicago?" Or "How do I winterize my Chicago home?" Whether you're a homeowner, a renter, or someone looking to sell your property, we have put together some expert recommendations from Fannie Mae and Pearson Realty Group to help you take the proper steps to winterize your home is essential for your comfort, safety, and even saving money. In this comprehensive 2024 update for our Chicago Winterization Guide, we'll cover the key areas you should address before the snow starts to fall.

Why Winterization Matters in Chicago

The Midwest, especially Chicago, is known for its extreme winter conditions—blizzards, ice storms, sub-zero temperatures, and wind chills that can make your home feel like an icebox if it's not properly prepared. Just a few years ago during the 2019 Polar Vortex homeowners and renters alike experienced what happens when you don't prepare for the worst. Taking proactive steps now ensures your home is ready for whatever Mother Nature throws your way, and it could save you thousands in potential repairs. Winterizing your home can help you:

• Improve energy efficiency and lower heating costs.

• Prevent costly repairs from frozen pipes or roof damage.

• Protect your home’s value, especially if it’s on the market.

• Enhance safety and comfort for your family.

Winterizing Your Home: A Checklist for Homeowners

1. Inspect & Seal Windows and Doors

Drafty windows and doors can cause heat loss, making your home less energy-efficient and increasing your heating bill. Properly sealed windows and doors can massively cut down on heat loss. Use caulking or weatherstripping products to seal any gaps that air can escape - you can always check for drafts by holding a candle or lighter near windows and door frames—if the flame flickers, there is an air leak. Homeowners should also consider upgrading to storm windows that offer an extra layer of winter protection with added insulation. When our partners at Pearson Realty Group work with Chicago REO properties during the winter months, this is often one of the first and easiest steps taken in winterizing a home.

2. Service Your Furnace and HVAC System

Your heating system is your first defense against the cold, so ensuring it’s in good working order is necessary. Many experts recommend keeping your thermostat set at a consistent temperature (around 68°F) to save on heating costs. It's also recommended you schedule a professional furnace tune-up to check for any issues and change the filters. Be sure to check your thermostat settings, and consider upgrading to a programmable or smart thermostat to optimize energy efficiency. We recommend checking your HVAC systems and major appliances to ensure any pumps, hoses, cords, or any other connections are clear of obstructions and no water damage is present. This is also a good time to check to see if your smoke and carbon monoxide detectors are in working order.

3. Clean Your Gutters and Downspouts

Clogged gutters can lead to ice dams, which cause water to back up under your roof and potentially lead to leaks and structural damage. Remove leaves, sticks, and debris from your gutters and ensure your downspouts direct water away from the foundation to avoid water buildup and ice hazards that can lead to possible roof looks. This is also a great time to inspect the exterior of your home for pests, rodents, and any potential entryways they could use. When the winter finally kicks in, it's important to monitor for any icicles forming, as this can be a sign of heat escaping.

4. Insulate Pipes to Prevent Freezing

Frozen pipes can burst, leading to costly water damage. One way to protect your pipes is to insulate exposed pipes, especially those in unheated areas like the garage, basement, or attic. You might want to consider installing heat tape for pipes in particularly cold areas of the home. For other areas of the house, you can ensure your pipes' integrity by keeping the temperature at a consistent rate, even if you're not home, to prevent freezing. We recommend a constant temp of 68°F to prevent potential issues, but every home and owner's comfort needs will be different.  This can be especially important when Pearson Realty Group’s Chicago REO team is prepping unoccupied inventory for the winter season.

5. Prepare Your Roof and Attic

Heavy snow and ice buildup can cause roof damage or even collapse in extreme cases. Attic insulation can also help prevent heat from escaping, further lowering your energy bills. Ensure your roof is ready to bear the weight of a snowy winter by inspecting your roof for missing/damaged shingles and making repairs as needed. It's also a good idea to clear out your attic and make sure it's properly insulated to prevent ice dams from forming on your roof. If you see any evidence of water damage, you should address this immediately. Preparing a roof and attic for the tough winter season is a significant portion of the preventative maintenance responsibilities PRG Management takes on for both residential and commercial spaces to ensure the building and its tenants are safe and sound.

Winterization for Renters: Essential Tips

If you’re a renter, there are still proactive steps you can take to ensure your home is warm and energy-efficient during the winter months. It’s also a good idea to check with your landlord about any shared responsibilities, like shoveling snow, salting walkways, or replacing filters to ensure you are doing everything you can to keep your home warm and comfortable. Here are a few renter-friendly winterization steps that we recommend:

• Ask your landlord to service the heating system and replace the filters.

• Use draft stoppers (or rolled-up towels) at the bottom of doors to prevent cold air from seeping in.

• Add thermal curtains to windows for extra insulation. Insulation Shrink Kits are another suitable budget-friendly solution.

• Reverse your ceiling fans to cycle warm air downward and circulate it more effectively.

• Keep your thermostat at a consistent temperature, even when you're not home, to prevent pipes from freezing.

READ MORE: Apartment Renter Tips for Chicago Winters

Expert Tips from Fannie Mae

According to Fannie Mae, proper home maintenance during winter can reduce energy costs and help avoid damage that could affect the home’s value. Remember that you may need a professional to handle more advanced maintenance and repairs. Here are a few steps that not only save money but can also increase the overall comfort and safety of your home during the winter months:

• Review insurance coverage: Know what your policies cover—policy changes can’t be made during a disaster.

• Prepare an emergency kit: Include chargers, flashlights, batteries, blankets, first aid, water, and nonperishable foods.

• Use resilient materials: Opt for windproof windows, fireproof siding, and durable roofing when making improvements.

• Store valuables securely: Use weatherproof containers or safes for heirlooms and important documents.

Our partners at Pearson Realty Group's Chicago REO & Short Sale department utilize in-depth guides from Fannie Mae that provide efficient processes that allow them to winterize REO properties and REO winterization services in a timely, budget-friendly fashion.

Winterizing your Chicago home is not just an annoying task to cross off your to-do list—it’s a crucial step to protect your home and improve energy efficiency while keeping your family safe and comfortable throughout the winter season. Whether you're a homeowner or renter, taking proactive measures now will save you time, money, and stress once the snow starts to fall.

As you prepare for the upcoming winter, refer back to PRG Management's 2024 Chicago Winterization Guide to ensure you haven’t missed any crucial steps. With proper planning, your home will be ready to withstand even the harshest Chicago winter. If you plan on selling this winter, contact our partners at Pearson Realty Group today to get in touch with an experienced Chicagoland real estate agent who can guide you through the best practices for listing your home during the winter. Owners and investors looking for assistance in managing your building's winterization efforts, and beyond contact our Chicago property management team or fill out the form below for a free proposal.

Streamlined HOA Management: PRG Management Introduces Cutting-Edge Features

In the world of Homeowners' Association (HOA) management, efficiency and transparency are crucial for fostering strong communities. That’s why PRG Management, your partner in Chicago HOA, condo, and townhome management, is thrilled to announce the rollout of several innovative features designed to streamline operations and enhance the overall experience for homeowners and residents alike.

1. Liabilities Report: Enhancing Financial Oversight

Managing financial obligations is a cornerstone of effective Chicago HOA management, and PRG Management's new Liabilities Report feature is set to revolutionize the process. This new tool provides comprehensive insights into the association's financial liabilities, ensuring transparency and accountability in financial management. With detailed reports and analytics at your fingertips, Chicago HOA boards can make informed decisions to safeguard the financial health of their community.

2. Violations Preview: Improving Compliance Monitoring

Maintaining community standards is essential for preserving property values and promoting harmony among residents. PRG Management's new Violations Preview feature simplifies the process of monitoring compliance with Chicago HOA rules and regulations. From resident parking violations to architectural infringements, this tool provides Chicago HOA boards with a preview of potential violations, allowing for proactive enforcement and timely resolution of tenant/owner violations.

3. Architectural Requests: Streamlining Approval Processes

Managing architectural requests efficiently is vital for maintaining the aesthetic integrity of the community while accommodating residents' needs. PRG Management's new Architectural Requests feature simplifies the submission and approval process for architectural modifications. Residents can submit requests online, track their progress, and communicate with their Chicago HOA board seamlessly, ensuring a streamlined and transparent approval process for all parties involved.

4. Resident Center Resources: Empowering Homeowners

At PRG Management, we understand the importance of fostering a sense of community and providing residents with convenient access to essential resources. That's why we're excited to introduce Resident Center Resources, a centralized “town board” hub where homeowners can access important documents, community announcements, and helpful resources anytime, anywhere. From meeting minutes to community guidelines, residents have everything they need to stay informed and engaged in community matters.

Experience the PRG Management Advantage Today

Ready to elevate your HOA management experience with PRG Management's innovative technological tools and dedicated support? View our suite of property management services to learn more about these exciting new features and how they can benefit your community. With PRG Management by your side, you can streamline operations, enhance transparency, and foster a thriving community that homeowners are proud to call home.

If you have any questions please feel free to call us at (312) 600-8896 or fill out the form below and a Chicago property manager will be in touch!

Now Managing: South Shore Lakeview Apartments LLC | 7801 S. South Shore

In Chicago’s booming South Shore neighborhood, PRG Management has recently taken on an exciting new management assignment in partnership with South Shore Lakeview Apartments LLC. The classic red-brick residential complex at 7801 S. South Shore is now accepting applications for a variety of units from cozy studios to spacious 3-bedrooms. Multi-family buildings all over the city like this one provide an essential piece to raising a family in Chicago, a safe and dependable space that is cared for. PRG Management is proud to provide our Chicago rental property management services to help fill these vital spaces and help maintain a high standard of care for the building. We work closely with our sister company, Pearson Realty Group, to assist with leases to fill vacancies quickly. From tenant management and leasing services to preventative maintenance and repairs, PRG Management’s comprehensive rental management has you covered.

Recently all units have received full kitchen and bathroom renovations with updated fixtures, along with massive renovations to roof exteriors in the past years, making these spaces even more desirable. Take a look below to see some interesting property highlights and some coming changes to the neighborhood that can massively increase property values!

7801 S. South Shore Highlights

• Property Value: $3,099,000

• Year Built: 1961

• Building Size: 32 Units

• Stories: 4

Unit Mix:

• Type 1: 5 units (Studios, 1 Bath)

• Type 2: 9 units (1 Bed, 1 Bath)

• Type 3: 15 units (2 Beds, 1 Bath)

• Type 4: 3 units (3 Beds, 1 Bath)

SEE FULL PROPERTY DETAILS HERE

Obama Presidential Library: revitalizing the area

Located less than three miles from 7801 S South Shore Dr, is the future site of the Obama Presidential Library, a huge project that will enhance the neighborhood appeal and increase property values. The library, a major cultural and educational hub, will attract visitors and major new investments to the South Shore and surrounding neighborhoods. We look forward to the completion of this project and seeing the positive impacts that it has on the local community and Chicago as a whole. Look out for more updates.

PSIQUANTUM QUANTUM COMPUTING CENTER: Reshaping the south shore

American quantum computing company, PsiQuantum recently announced plans to open a massive quantum computer at the old Chicago US Steel South Works property, just minutes away from 7801 S. South Shore. This development is poised to revitalize the surrounding area by bringing in massive investments, and hundreds of jobs, improving property values, and solidifying Chicago as a modern tech hub. Learn more about PsiQuantum’s 1st US-Based Utility-Scale Quantum Computer in Chicago

PRG Management offers top-tier rental management services for South Shore Lakeview Apartments LLC in Chicago’s South Shore neighborhood. From leasing and tenant management to maintenance and repairs, our comprehensive services ensure a high standard of care for this beautifully renovated property. Trust PRG Management to keep your living space safe, comfortable, and well-maintained.

Are you a landlord or property owner struggling with tenant management or filling vacant spaces? Contact PRG Management today or fill out the form below to receive a free proposal of services and see how we can help maintain profitability in all of your investments!

Now Managing: Park View Marquette LLC | 3000 W. Marquette

PRG Management is proud to announce a recent partnership with Park View Marquette LLC to manage a 85-unit apartment building in Chicago’s Chicago Lawn/West Lawn neighborhood. Located at 3000 W Marquette Road, just across the street from Chicago’s vibrant Marquette Park, this exciting new partnership is the latest multi-family complex that PRG Management has been entrusted to help manage with our award-winning Chicago property management services. We provide this stunning 85-unit apartment building with comprehensive rental management services from regular maintenance and upkeep to lightning fast unit turnovers and work with our sister company, Pearson Realty Group to vet tenants and navigate lease negotiations. PRG Management has a wide network of trusted vendors and crews that can respond quickly to any request or emergency and provide residents with safe living spaces and peace of mind.

The classic Chicago red and brown brick exterior is adorned with intricate ornamental glazed terra cotta designs, making it a standout in the area and an important feature to maintain with regular preventative maintenance. 3000 W Marquette features bright, sunny units with real hardwood flooring, and updated kitchens and bathrooms in every unit. With a unit mix of 1, 2, and 3-bedroom apartments, it’s a versatile investment that provides a dependable and safe living space for Chicago residents.

3000 W. Marquette Road Highlights

• Property Value: $7,100,000

• Year Built: 1927

• Building Size: 85 Units

• Stories: 4

SEE FULL PROPERTY DETAILS HERE

Terra Cotta Design

Ornamental glazed terra cotta designs are a unique and distinctive architectural feature that adds aesthetic value and carries a historical significance to an investment property. These intricate, decorative elements were popular in the early 20th century and are known for their vibrant colors and ability to withstand the elements. This timeless feature enhances the property's appeal for potential investors while also attracting tenants who appreciate living in a Chicago building with character and deep history. By providing Chicago preventative maintenance services for Park View Marquette LLC, we can help ensure these timeless fixtures stay around for years to come.

Are you a landlord or property owner battling with keeping your investment property out of the red? Contact PRG Management today or fill out the form below to receive a free proposal of Chicago property management services and see how we can help create and maintain consistent profitability in all of your investments!

Optimizing Your Facility with PRG Management: Chicago Facilities Manager

When it comes to maintaining a smooth and efficient operation within your commercial property, having a reliable and experienced facilities manager is crucial. PRG Management, a leading provider of facilities management services in Chicago, offers detailed solutions tailored to meet the needs of your business. Discover how our expert team can enhance your facility’s performance and ensure a safe, clean, and productive environment.

Comprehensive Janitorial Services

A clean workspace is not just about aesthetics; it significantly impacts employee productivity and client perceptions. At PRG Management, we understand the importance of maintaining a productive environment. Our janitorial services are designed to meet the highest standards of cleanliness and hygiene. We provide daily cleaning, deep-cleaning, and specialized cleaning services shaped to your facility’s specific needs.

Facility Maintenance and Repairs

Regular maintenance and repairs are essential to keep your facility running smoothly. Our team at PRG Management ensures that every aspect of your building, from HVAC systems to electrical fixtures, operates efficiently. By adopting a proactive approach, we reduce downtime and prevent expensive repairs. Our services are inspired by the best practices from City Wide Maintenance, offering maintenance solutions that cover all areas of facility management.

Tailored Management Services

Every facility has different requirements, and at PRG Management, we offer custom solutions to meet these needs. Whether you require janitorial services, maintenance, or facility management, our team provides a personalized approach to guarantee your facility operates at its best. We take the time to understand your business, assess your facility’s requirements, and develop a plan that aligns with your goals.

Sustainability and Green Practices

In today’s world, sustainability is more important than ever. At PRG Management, we are committed to incorporating green practices into our Chicago facilities management services. We utilize eco-friendly cleaning products to implement energy-efficient solutions, we strive to reduce our carbon footprint while improving the efficiency of your facility. Our approach is influenced by industry standards that prioritize sustainability, ensuring that your facility performs well and also contributes to a healthier environment.

Enhanced Security and Safety

Ensuring the safety and security of your facility is a top priority. Our team at PRG Management is equipped to handle all aspects of security management, from installing and monitoring security systems to conducting routine safety audits. We create a safe environment for any employees and visitors, giving you peace of mind knowing that your facility is well-protected.

Exceptional Customer Service

At PRG Management, we deliver exceptional customer service. Our team is dedicated to providing prompt, reliable, and professional support to address all your facilities management needs. We believe in building long-term relationships with our clients, and our commitment to excellence ensures that you receive the highest level of service.

Why Choose PRG Management?

Choosing PRG Management means partnering with a team of experienced professionals who are committed to the success of your facility. Our comprehensive facilities management services are designed to enhance the performance, safety, and sustainability of your property. With a focus on quality and customer satisfaction, we are the trusted choice for facilities management in Chicago.

For more information on how PRG Management can help you optimize your facility, visit our facilities management page and explore the comprehensive services we offer.

Incorporating these elements into your facilities management strategy will improve your building's efficiency and create a more productive, enjoyable environment. Trust PRG Management to help you achieve these goals with our high-quality Chicago facilities management services

If you have any questions please feel free to call us at (312) 600-8896 or fill out the form below and a Chicago property manager will be in touch!

Lakeview's Newest Coffee Hotspot: Queen Bee Cafe Grand Opening

The commercial division at PRG Management is excited to announce a new tenant moving into the former Starbucks space at 3072 N Lincoln Ave; Queen Bee Cafe! The new Cafe is set to open in late June/early July and will offer a unique blend of Greek-style dishes, pastries, and coffee.

In the vibrant neighborhood of Lakeview, a variety of small businesses have settled in, including clothing shops, beauty shops, restaurants, and cafes. The area is full of young professionals, families, and others looking for a strong community. For Queen Bee Cafe, this means an influx of potential customers to target, and a hopeful start for the small business, which PRG Management will help upkeep. Our Chicago property managers are veterans when it comes to managing retail spaces such as this. With proven processes and vetted vendors to ensure smooth operations for all of our tenants.

Check out some photos of the former Starbucks space and Queen Bee’s Cafes soon-to-be home below!

In the vibrant neighborhood of Lakeview, a variety of small businesses have settled in, including clothing shops, beauty shops, restaurants, and cafes. The area is full of young professionals, families, and others looking for a strong community. For Queen Bee Cafe, this means an influx of potential customers to target, and a hopeful start for the small business, which PRG Management will help upkeep. Our Chicago property managers are veterans when it comes to managing retail spaces such as this. With proven processes and vetted vendors to ensure smooth operations for all of our tenants.

However, in such a popular area Queen Bee will be joining a few other cafes that have settled in Lakeview, providing some decent competition for any caffeine fans in the neighborhood. A few examples include Doppio Coffee House, Left Coast Food + Juice, Vigo Coffee, Chicago Diplomat Cafe, and Allegro Coffee. While there are a few other cafes in the area, Queen Bee Cafe’s unique business concept sets it apart as a new space to visit. In the bustling neighborhood of Lakeview, there is a large market that could be drawn in by the new Cafe in the heart of the area.

The Queen Bee Cafe has a very unique concept inspired by the Greek entrepreneur behind the business. The menu will have a variety of Greek-inspired dishes which pay homepage to the rich flavors and culture of Greece. The Cafe will have coffee all day and will offer Greek pastries as well. Queen Bee Cafe will also offer brunch featuring Greek dishes on the menu.

As the opening date for Queen Bee Cafe gets closer, excitement is growing. We can’t wait to see how the neighborhood welcomes Queen Bee Café as Lakeview’s newest coffee destination. It is set to become a beloved neighborhood spot, providing a unique mix of Greek hospitality and culinary excellence. Stay tuned for updates on the grand opening!

If you are interested in commercial or retail spaces in Chicagoland please contact us or fill out the form below to talk to an expert Chicago property manager.

Elevating Property Management: PRG Management Unveils Game-Changing Features

In the fast-paced world of property management, staying ahead of the curve is essential. PRG Management, your trusted partner in Chicago property management, is proud to introduce three new features aimed at improving the way property owners manage their assets and residents.

1. Applicant Workflow and Tracking: Simplifying Resident Screening

Finding the right tenants and minimizing turnover is key to success in property management, and PRG Management's Applicant Workflow and Tracking feature makes the process easier than ever. From listing vacancies to screening applicants and managing lease agreements, this tool streamlines every step of the tenant selection process. Spend less time on paperwork and administrative tasks, and more time on growing your business and providing exceptional service to your tenants.

2. Financial Insights: Empowering Investor Decisions

Managing finances is a core aspect of Chicago property management, and PRG Management's new Fund Accounting feature is set to redefine the process. With this tool, Chicago property owners gain access to comprehensive financial reporting, streamlined budgeting and forecasting, and automated transaction processing. Say goodbye to tedious manual tasks and hello to accurate, efficient financial management that provides a clear picture of your property's financial health at all times.

3. PRG Rewards: Maximizing Value from Property Owners to Residents

At PRG Management, we understand the value of rewarding tenant loyalty. That’s why we are rolling out PRG Rewards, a unique program crafted to benefit property owners and tenants. One of the key features of this program is Chicago Rent Reporting, which allows tenants to build their credit by reporting their rent payments to the major credit bureaus. For just $4.99 a month, tenants can easily enroll through their Resident Center. Once signed up, all rent payments are automatically reported to TransUnion, Equifax, and Experian. By offering this program, property owners can help their tenants improve their credit scores, build loyalty, and maintain long-term residency.
Sign up for Rent Reporting Here

Experience the PRG Management Advantage Today

Ready to experience the difference that PRG Management's innovative tools and exceptional service can make for your Chicago property portfolio? View our list of management services and learn more about these exciting new features and how they can help you achieve your property management goals. With PRG Management by your side, you can streamline your property management, elevate tenant experience, and unlock the full potential of your investments.

If you have any questions please feel free to call us at (312) 600-8896 or fill out the form below and someone from our Chicago property management team will be in touch!

Maximize Your ROI with a Chicago Investment Property Manager

How To Maximize Your Return on Investment with a PRG Investment Property Manager

In the heart of the Midwest, Chicago's real estate landscape is ripe with opportunities for investment properties. Navigating this landscape requires more than just ownership—it demands thoughtful management. This is where the expertise of a Chicago investment property manager becomes invaluable. By entrusting your property to seasoned Chicago property managers, you not only protect your investment but also significantly enhance your ROI.

An investment property manager serves as the guardian of your real estate assets. They handle everything from tenant relations to maintenance with the main goal of maximizing your property's profitability. These professionals are equipped with the essential local knowledge for navigating the city's diverse neighborhoods and complex (and ever-changing) regulations.

Benefits of Hiring a Chicago Investment Property Manager

Maximized Rental Income

Determining the right rental price in Chicago can be tricky, requiring an intimate understanding of the local market. Effective Chicago investment property managers regularly analyze local market reports to set rental rates that attract tenants while maximizing your income. Maximizing your investment property’s ROI also requires a proactive approach to minimizing vacancy periods between tenants. An experienced property manager minimizes the turnover period, ensuring no gap in your income stream.

Cost-Efficient Property Maintenance

Proactive preventative maintenance is pivotal in preserving the value of your investment for any property. Investment property managers work to establish relationships with a network of reliable contractors and vendors, ensuring maintenance issues are addressed promptly and affordably. Not only does this save money in the long run but it also keeps tenants satisfied, thus reducing turnover.

Rigorous Tenant Screening Process

The cornerstone of a successful investment property is a reliable tenant. Through a meticulous screening process, property managers vet potential tenants for financial stability and reliability, significantly reducing the risks of late payments and evictions. This thoroughness ensures your property is occupied by tenants who respect your property and fulfill their lease obligations. Effective Chicago property companies will work closely with reputable Chicago real estate firms like Pearson Realty Group to minimize vacancy rates.

Streamlined Rent Collection and Financial Management

The biggest threat to your ROI on an investment property is tenants not paying rent. Through a meticulous screening process, Chicago property managers vet potential tenants for financial stability and reliability, significantly reducing the risks of late payments and evictions. This vigorous process ensures your property is occupied only by tenants who respect your property and fulfill their lease obligations.

Knowledge of Local Laws and Regulations

Many landlords and investors don’t have the time to keep up with the ever-changing local laws and regulations surrounding property and tenants’ rights. Chicago's investment property managers are well-versed in local, state, and federal regulations, from fair housing laws to building codes. Their expertise safeguards property owners against legal issues, avoiding pitfalls that could cost you big time, offering peace of mind and protection from potential litigation.

Choosing the Right Investment Property Manager in Chicago

Selecting the right investment property manager is paramount for Chicago property owners looking to maximize their ROI. By leveraging the expertise of a seasoned investment property manager you can reduce stress, and ensure your property is a source of pride and profit. If you're ready to take your investment to the next level, PRG Management is here for you.

Request a FREE proposal of management services here or simply fill out the form below! With over a decade of experience maximizing the return of thousands of units across Chicagoland, our investment property management team is here to give you peace of mind.