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Wicker Park Luxury Mid-Rise

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Wicker Park Luxury Mid-Rise

Project Overview

This class-A property features 207 units across two buildings in the heart of Wicker Park. The building is in a prime location and the finish level and amenities are second to none. The developer, Centrum, had worked with us in the past and came back to us as they couldn’t find a firm that had mid-rise luxury management presence. Beyond our obvious operational responsibilities, we were tasked with turning around the building’s reputation by implementing an aggressive social media plan, along with a grass-roots marketing effort.

33 parallax logo
our process

Project Outcome

Immediately upon takeover, 33 replaced the entire onsite management and maintenance staff, brought all maintenance in-house and replaced all third party contract service providers. Vacancy at takeover was 70% and was increased to 95% in the first 6 months of the assignment. Google reviews were increased to 3.8 stars from 3.1 stars, maintenance scores achieved 5.0 out of 5.0 and tenant move-in/out scores achieved 5.0 out of 5.0.

before
after
beforeafter
89%
Occupancy
$2,438
Average Monthly Rents
28.2%
Expense Ratio
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