Chicago Flats Leasing
Golub’s portfolio spanned Lakeview, Lincoln Park, Roscoe Village and Old Town and had a vacancy rate over 25% heading into the 2019 spring leasing season. The apartment buildings had undergone cosmetic renovations the previous 12-24 months, but were having trouble competing with similarly renovated product. To complicate matters, lease expiration dates were staggered throughout the year, rather than expiring in peak leasing season.
We spent the first Spring & Summer season reassessing the rental rates to find more balance with less concessions while renewing & signing new leases that expire in the March-August months. In one season, we brought occupancy for the portfolio to 95%+ occupancy and minimized tenant turnover to under 50%. Golub continues to utilize 33 as its exclusive leasing provider for the portfolio.