773.243.1603
773.243.1603
download
Listing ID:3N1074

Property Management – Chicago – Recurring Revenue 3N1074

The Seller is a premier provider of leasing, management, and sales services for single-unit condos, apartments and town homes. The Company has management contracts with approximately 100 Chicago area condo owners located mostly in multi-unit, Association managed buildings. While focusing on this real estate niche, the Company’s mission is to provide condo owners relief from the hassles of property management. These client relationships often lead to property sales once the owner decides to liquidate their investment. This leasing/management model has resulted in enviable recurring revenue streams and rapid growth for the Company.  Most of their clients stretch from the South Loop to Evanston and from the Lake to Oak Park.

Using cutting edge technology and online tools, some of the Company’s many services include locating tenants, lease administration, managing rent payments and direct deposits to property owners, administering lease renewals, ensuring compliance with HOA regulations and leasing forms, as well as preparing financial reports for the condo owners. Their online tools and use of the industry’s top management software will ease the transition to the new owner. Also, included in the sale is an invaluable, large inventory of condo unit photos which will be passed to the Buyer. The Company has been prequalified for SBA bank financing. This is an exceptional growth opportunity for an existing property manager or an individual having real estate experience

Transcation Details

  • Location

    Cook, Chicago, Illinois

  • Results
  • ESTABLISHED IN

    2011

  • Real estate Included

    No

  • Full-Time Employees

    2

  • Franchise

  • Industry

    Service

  • Reason for Selling

    Parther Relocating

  • Inventory Included

  • Part-Time Employees

  • Business

    Property Management – Chicago – Recurring Revenue 3N1074

  • Acquirer

  • Annual Revenue

    $437,195

  • Annual Cash Flow

    $292,425

  • Seller Financing

    Yes

  • SBA Financing

    Yes

  • Listing Price

    $775,000

  • Acquisition Highlights