The Habitat Company, a leading multifamily property developer and manager in the U.S., announced that it has been awarded the management of Park Place by the property’s condominium association. Located at 600 N. Kingsbury in Chicago’s River North neighborhood, the 20-story, 163-unit contemporary condominium tower was designed by Chicago-based Solomon Cordwell Buenz and was completed in 2002.
“We have made a commitment to growing our condominium portfolio by enhancing our best practices through the implementation of a customer-focused management approach, which includes providing corporate support and services that meet or exceed our client’s expectations,” said Matt Fiascone, president of Chicago-based The Habitat Company. “We’re honored to bring our experience in managing luxury, urban residential properties to the homeowners at Park Place.”
Fiascone noted that prior to hiring Habitat, the distinctive red-façade building with contrasting green-tinted windows was self-managed. “We applaud the condo board and homeowners at Park Place for the work they have done, as managing a building like Park Place is a full-time job,” said Fiascone. “But we’re excited to get to work and help the building run as efficiently as possible so homeowners can get back to enjoying actually living in this building rather than overseeing the day-to-day management of it.”
As the new managing agent of Park Place, The Habitat Company will work closely with the condominium’s board of directors to optimize procedural efficiencies and maximize cost savings – helping to ensure the association remains a sound investment. As one of the largest developers and property managers in the U.S., The Habitat Company offers its clients volume purchasing discounts in areas such as property insurance, gas and electricity. The company’s proprietary budget program also provides real-time forecasting and reporting which has proven a useful tool in managing financial responsibilities more efficiently.
“This isn’t the first time we’ve helped a condo building go from being self-managed to working with a full-service property manager, and the key to every seamless transition has been good communication,” said Diane White, senior vice president of condo management for The Habitat Company. “Our proactive approach in communicating with residents and the board of directors is always centered around our main goal – to enhance the living experience for every condo owner.
About The Habitat Company
Founded in 1971, The Habitat Company is a full-service residential real estate company specializing in property management, acquisitions and development. One of the largest residential property developers and managers in the United States, with over $3 billion in assets and more than 25,000 units under management across six states, the company’s portfolio spans a range of property types, from mid- and high-rise condominium, apartment and adaptive reuse developments to senior and affordable housing communities. Headquartered in Chicago, with more than 800 employees throughout the United States, Habitat is dedicated to improving the communities it serves through innovation and a commitment to excellence. For more information, visit www.habitat.com.
Chicago-based property manager and developer The Habitat Company has been awarded the management of Park Place, a 163-unit condo tower in Chicago’s River North neighborhood.