Portfolio

Our staff specializes in commercial, residential and HOA properties. We manage the leasing, maintenance, and rehab of commercial and retail properties, single family homes, apartment buildings, and condo developments with dozens of units. We manage performing properties, but we specialize in stabilizing, managing and optimizing distressed and under-performing property.  Whatever your property type or condition, your investment will be in the capable hands of experienced managers with proven success in properties like yours. We own many of the properties we manage and manage those we don’t own as if we did.

The following is just a sample of the some of our recent management successes.

LaSalle

Case Study

435 North LaSalle Ave., Chicago, IL

An EMG client was offered the opportunity to acquire this off-market asset in late 2014.  The 45,500 sf asset was undermaintained and underperforming, with below-market rents corresponding to unit and overall building conditions.

EMG and its affiliated experts performed a market analysis, lease analysis and physical condition assessment of the building.  EMG forecasted that with appropriate renovations and updates, including elevator modernization and cosmetic interior and exterior improvements, the units could be brought to market condition and rental rates increased significantly as existing leases expired, forecasting a very attractive return on investment with a three-year time horizon.

After EMG’s client acquired the property in March 2015, the EMG Team completed the design and buildout of the renovations in common areas in tandem with new tenants entering the space.  EMG negotiated lease renewals and leased newly vacated spaces at a rate up to triple previous tenants/leases. The asset was appraised in late 2017 at more than two times the 2015 acquisition price. Costs to owners of the improvements made were less than 20% of the incremental asset value appreciation.

930

Case Study

930 W 175th St., Chicago, IL

An EMG client was offered the opportunity to acquire this off-market asset in late 2014.  The 930 building was part of an underperforming two-building portfolio, which included a similar adjacent building at 950 W. 175th St., the entire asset was in receivership.  The two buildings totaled 30,000 sf, one building was 100% occupied by a single tenant and the other was 23.6% occupied.

EMG and its affiliated experts performed a market analysis, tenancy analysis and physical condition assessment of the building.  EMG determined that with minor renovations, including cosmetic exterior improvements, an appeal of the real estate taxes and rental of vacant space, the asset could be stabilized. EMG also realized after communicating with the sole tenant in the 950 building, there was potential to negotiate a sale of the building to this user.

After EMG’s client acquired the property in February 2015, EMG affiliates completed the buildings’ rehab and successfully appealed the property taxes.  EMG’s client was able to negotiate the sale of the 950 building effectively creating a near $0 basis for the 930 building. EMG has leased the ground floor of the 930 building to a national tenant and a related real estate brokerage training school and retained certain key tenants within the 930 building.  Rent collections have improved dramatically and EMG is currently designing the buildout of some of the remaining vacant space with smaller shared office suites and expects to have the building fully leased before the end of 2018.