Business For Sale

Property Management-Chicago-Recurring Revenue

Confidential, IL

Asking Price: Annual Revenue:
$775,000 $437,195

Services: Real Estate

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RE: Property Management-Chicago-Recurring Revenue Broker: Burt Evans

Quick Facts

Asking Price: $775,000
Annual Revenue: $437,195
Net Profit: Not Disclosed
Cash Flow: $252,425
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: 2011
Employees: 2
BBN Listing #: 455138550
Broker Reference #: CHICAIL003-N1074

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Business Overview:

The Seller is a premier provider of leasing, management, and sales services for single-unit condos, apartments and townhomes. 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

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Reason for Selling:

Partner Relocating

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.

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