Chicago's pro sports teams have shaped our identity for generations.

Now they're at the center of a $14B question:
Should taxpayers help fund stadium-anchored developments to give Chicago a post-pandemic jolt?

From the Chicago Bears' proposals to new visions tied to the Chicago White Sox, Chicago Fire FC, and the United Center, this isn't just a sports debate.

It's a land-use debate, a tax-base debate, and a leadership test.

Historically, traditional stadium subsidies have rarely generated net-new economic growth, they tend to redistribute spending, but the modern model looks different.

In places like Atlanta and San Francisco, stadiums are no longer standalone venues. They anchor mixed-use districts with housing, offices, transit, and daily foot traffic. Chicagoans have seen this play out firsthand in Wrigleyville over the past decade.

The game isn't the sole product anymore, the neighborhood is.

That's the lens leaders need to apply:

• Is public investment tied to property tax growth the project itself generates?
• Does the development activate land 365 days a year (not just on game days)?
• Is there downside protection if projections fall short?
• Would we support this project if it didn't have a logo attached to it?

It's no longer about team loyalty; it's about whether sports can function as cultural infrastructure in a city adjusting to remote work, shifting downtown patterns, and constrained public budgets.

The post Should taxpayers help fund stadium-anchored developments to give Chicago a post-pandemic jolt? appeared first on Peak Properties, LLC. Blog.

In competitive urban submarkets like Wicker Park, lease-ups leave little room for error. Pricing, timing, and execution must align; especially following renovation, when carrying costs rise quickly and renter expectations are high.

At 1364 N. Hoyne, a 19-unit multifamily walk-up, Peak Properties was engaged during a full-scale rehabilitation, with a clear mandate: deliver a fast, disciplined lease-up without compromising long-term pricing or asset positioning.
 

The Challenge

Post-renovation lease-ups in Wicker Park are high-pressure by nature. New inventory competes aggressively, renter expectations are elevated, and even minor delays in unit readiness or pricing strategy can create costly vacancy.

There was no margin for misalignment between construction completion, marketing launch, and leasing execution.
 

The Approach

Peak assumed management during the renovation process, working closely with ownership to modernize the units and align finishes with the surrounding competitive set. By the final phases of rehabilitation, our team was operating in parallel across multiple workstreams:

• Coordinated construction timelines with leasing and marketing strategy
• Aligned pricing to real-time market demand
• Ensured units were fully resident-ready the moment renovations wrapped

This approach allowed leasing momentum to begin immediately, rather than waiting for a “perfect” handoff that often comes too late.
 

The Results

• Fully leased in 19 days
• Zero prolonged vacancy post-renovation
• Seamless transition from lease-up to stabilized operations

The asset has remained fully stabilized under Peak’s management since 2016.
 

The Takeaway

Fast lease-ups are about preparation, coordination, and knowing when to move decisively in competitive markets.

For owners navigating renovations or repositioning in dense urban neighborhoods, early operational involvement can make the difference between prolonged vacancy and rapid stabilization.
 

Why Choose Peak Properties?

At Peak, we pride ourselves on delivering exceptional service and maximizing property value for our clients. Our dedicated team ensures your property is professionally managed, your tenants are satisfied, and your investment thrives. Whether you own a 3-flat, 100+ unit building, or a larger portfolio, we have the expertise and resources to protect and grow your investment.

Ready to experience the benefits of professional property management? Contact Peak Properties today to learn how we can help you streamline operations, increase profitability, and reduce the stress of property ownership.

Visit our website or give us a call at www.peakproperties.biz or 773-281-5252.
 

Disclaimer: This blog post is intended to provide general professional insights based on our experience in real estate and property management. However, it should not be interpreted as legal, tax, or financial advice. For guidance specific to your situation, we recommend consulting with a licensed attorney, tax advisor, or financial professional.

The post Fast Lease-Ups Aren’t Accidents: How Strategic Execution Drove a 19-Day Lease-Up in Wicker Park appeared first on Peak Properties, LLC. Blog.

As part of The Work, Explained, we’re sharing a closer look at what this role actually entails through a Q&A with Vivian Perez, Assistant Property Manager for the Supera Portfolio. Vivian’s perspective highlights the behind-the-scenes work, judgment calls, and consistency required to keep properties running smoothly for residents, teams, and ownership alike.

Q1: What’s something that happened this week that perfectly sums up your job?

A: This week I handled a resident concern, coordinated vendor access, and followed up with the property manager all before noon. None of it was dramatic, but if any one piece had been missed, it could have become a bigger issue. A lot of my job is about momentum and follow-through.

Q2: What’s a small win in your day that most people would overlook?

A: A small win is closing the loop on something before it escalates, like getting a quick vendor response, resolving a question efficiently, or preventing confusion before it starts. Those moments aren’t always visible, but they make a big difference.

Q3: What’s a misconception people have about Assistant Property Managers?

A: People assume the role is mostly reactive, but a lot of the value comes from planning ahead. Anticipating needs, spotting patterns, and staying organized helps prevent issues rather than just responding to them.

Q4: What’s something residents might not realize about how issues actually get resolved?

A: Residents usually see the final outcome, not how many steps it took to get there. There’s a lot happening behind the scenes to make sure things are handled the right way, not just the fastest way.

Q5: If you had to explain your role to a property owner in one sentence, what would you say?

A: I help ensure day-to-day operations stay organized and consistent so residents are supported and ownership can trust that the property is being managed thoughtfully.

Q6: What’s a decision you’ve made recently that protected the property or saved time or cost?

A: Knowing when something needs (and doesn’t need) to be escalated is important. Resolving issues at the right level and at the right time helps avoid delays, repeat work, and unnecessary costs.

Q7: What part of the job did you underestimate when you started?

A: How much prioritization matters. You’re constantly balancing urgency, impact, and timing, and learning how to make those calls confidently has been a big part of growing into the role.

Q8: What’s one thing you’ve learned to always double-check?

A: Details — especially timelines, access instructions, and coordination. Taking a moment to double-check upfront saves time and prevents confusion later.

Q9: What skill have you developed the most since stepping into this role?

A: Professional communication. Learning how to tailor messages depending on who I’m speaking with and setting clear expectations has made everything run more smoothly.

Q10: What makes working on the Supera Portfolio different from other experiences you’ve had?

A: There’s a strong emphasis on standards and consistency across the portfolio. At that scale, small details really matter, which pushes you to be more disciplined and intentional in how you work.

Q11: What kind of person would not enjoy this role?

A: Someone who prefers rigid routines or doesn’t like juggling priorities. The role is fast-moving and requires flexibility, problem-solving, and constant communication.

Q12: When you do your job well, who benefits most?

A: Everyone. Residents feel supported, property managers can focus on higher-level priorities, and ownership benefits from smoother, more consistent operations.
 

The role may stay behind the scenes, but the impact is felt across every part of a well-run property.

About This Series

The Work, Explained explores the work that supports residents, property owners, and management teams alike, with a focus on real roles, real decisions, and how property management actually works.

Learn more about Peak Properties on our website: www.peakproperties.biz.

Disclaimer: For informational purposes only. Not intended as legal, tax, or financial advice.

The post The Work, Explained: Inside the Assistant Property Manager Role appeared first on Peak Properties, LLC. Blog.

If you’ve ever strolled through a Chicago neighborhood and wondered why some buildings look like mini-mansions while others form peaceful little pockets of green space, you’re not alone.

Chicago is known for its architectural diversity, and that includes its apartment buildings. From classic walk-ups to sleek modern high-rises, each building type tells a story about the city’s history, density, and design preferences.

Here are some of the most popular apartment styles you’ll find across the city:

1. Center-Entrance 6-Flat

3450 N. Janssen Avenue in Roscoe Village. This property is professionally managed by Peak Properties.

Where you’ll (mostly) find them: North Side neighborhoods like Lakeview, Roscoe Village, and Albany Park.

What makes them unique: These classic Chicago walk-ups are typically 3 stories tall with two units per floor and a symmetrical entrance. With brick facades, modest detailing, and front staircases, they’re beloved for their efficient layouts and vintage charm.

Why people love them: These buildings often have great layouts that include a sunroom, dining room, and built-in cabinetry. They often have rear porches, which is an added bonus you might not see in other cities.

2. Courtyard Buildings

527 W. Aldine Avenue in Lakeview. This Supera-owned property is professionally managed by Peak Properties.

Where you’ll (mostly) find them: Lincoln Square, Hyde Park, Rogers Park, and Lakeview.

What makes them unique: U-shaped buildings that wrap around a shared garden or green space, courtyard buildings offer a peaceful buffer from the street. They’re usually 3-4 stories tall and filled with vintage details like hardwood floors, crown molding, and decorative brickwork.

Why people love them: That interior courtyard adds a dose of nature and community to city living.

3. High-Rises

River North Park Apartments in River North. This property is professionally managed by Peak Properties.

Where you’ll (mostly) find them: Downtown, Streeterville, South Loop, Gold Coast

What makes them unique: Skyline views, elevators, and modern amenities. Chicago’s high-rises are often newer construction or luxury rehabs with doormen, fitness centers, and rooftop decks. Some are sleek glass towers, while others are mid-century icons with retro flair.

Why people love them: High-rise properties offer convenience and certain amenities you might not get in walk-up apartment buildings.

4. Walk-Ups

1461 W. Byron Street in Southport Corridor. This property is professionally managed by Peak Properties.

Where you’ll (mostly) find them: Logan Square, Lincoln Park, Pilsen…pretty much anywhere in Chicago.

What makes them unique: These classic Chicago buildings are typically two- to four-story brick or limestone structures without elevators, hence the name. Many include shared backyards, front or back stoops, or garage access.

Why people love them: Walk-ups offer spacious layouts, vintage charm, and high ceilings. They’re a staple of Chicago neighborhoods and give that timeless, authentic feel many renters are drawn to.

5. Adaptive Reuse & Loft Conversions

Stewart School Lofts in Uptown. This property is professionally managed by Peak Properties.

Where you’ll (mostly) find them: West Loop, South Loop, Ravenswood, and Uptown.

What makes them unique: Former warehouses, schools, or factories turned into modern apartment buildings, these units often feature exposed brick, oversized windows, and high ceilings.

Why people love them: They offer something different. These space are great for creatives, remote workers, or anyone who wants a little architectural drama in their daily life.

Why it Matters

When you’re a renter, investor, or just a design lover, understanding the different styles of Chicago apartments can help you better navigate the city’s neighborhoods, and maybe even appreciate the quirks of your own building a little more.
 

Disclaimer: This blog post is intended to provide general professional insights based on our experience in real estate and property management. However, it should not be interpreted as legal, tax, or financial advice. For guidance specific to your situation, we recommend consulting with a licensed attorney, tax advisor, or financial professional.

The post Chicago Apartment Styles: A Guide to the City’s Most Recognizable Property Types appeared first on Peak Properties, LLC. Blog.

In a world of fast-moving and ever-evolving investment trends, there’s one strategy that continues to stand the test of time: holding real estate long-term.

At Peak Properties, we’ve worked with investors across all experience levels—from first-time landlords to institutional players. One truth keeps surfacing: those who play the long game tend to win the most. Here’s why:

1. Real Estate Appreciates, But Not Overnight

Property values tend to rise steadily over time, even when short-term market conditions fluctuate. While short-term flipping or opportunistic deals can generate returns, long-term holders benefit from compounding appreciation—especially in strong, supply-constrained markets like Chicago and Denver.

Holding allows you to ride out market dips and capitalize on the inevitable rebounds. It’s not about timing the market, it’s about time in the market.

2. Rent Growth Boosts Cash Flow

Over time, rental rates typically increase alongside inflation, wage growth, and local demand. With a solid property management team in place, long-term investors can enjoy growing net operating income (NOI) while keeping expenses relatively stable.

The result? Improved cash flow and a stronger yield on your original investment year over year.

3. Equity Builds While You Sleep

One of the most powerful aspects of real estate investment is debt paydown. As tenants pay rent, your mortgage balance decreases—building equity in the asset.

Even if the property’s value stayed the same (which it likely won’t), you’d still walk away with significant gains over time through principal reduction alone.

4. Tax Benefits Are Built for the Long Haul

Long-term real estate ownership can come with major tax advantages:

• Depreciation deductions
• 1031 exchanges to defer capital gains
• Favorable long-term capital gains rates
• Potential for step-up in basis for heirs

By holding, you’re able to fully leverage these benefits and minimize tax exposure across your portfolio.

Disclaimer: This blog post is for informational purposes only and should not be considered tax, legal, or financial advice. Peak Properties is not a licensed tax professional. We recommend consulting with a qualified tax advisor or financial professional before making any investment decisions.
 

Long-Term Strategy = Lower Stress

Let’s be honest. Constantly turning over properties, chasing the next deal, or reacting to market swings can be exhausting. Long-term investing allows for measured decisions, better planning, and fewer surprises.

Plus, with the right property management partner, you can enjoy passive income and portfolio growth—without being hands-on every day.
 

A Partner for the Long Run

At Peak Properties, we’re your long-term partner in real estate. Our team goes beyond property management—we help you optimize performance, grow your portfolio, and make strategic investment decisions at every stage of your journey.

Whether you're looking to expand, explore new opportunities, or step back from the daily demands of ownership, we're here to help you create lasting value and build long-term wealth.
 

Disclaimer: This blog post is intended to provide general professional insights based on our experience in real estate and property management. However, it should not be interpreted as legal, tax, or financial advice. For guidance specific to your situation, we recommend consulting with a licensed attorney, tax advisor, or financial professional.

The post The Power of Hold: Why Long-Term Real Estate Investment Still Wins appeared first on Peak Properties, LLC. Blog.

The Benefits of Hiring a Property Manager: Why It's Worth the Investment

Managing a rental property involves far more than simply collecting rent. From tenant relations and maintenance issues to legal compliance and financial management, property ownership can quickly become a full-time job. Whether you own a single rental property to a growing portfolio, Peak Properties offers expert property management services designed to streamline operations, protect your investment, and maximize you returns. Here's why partnering with us is worth the investment:

1. Efficient Tenant Screening and Placement

One of the most critical factors in maintaining a successful rental property is securing reliable, responsible tenants.

• Thorough Screening: At Peak, we conduct comprehensive background checks, including credit history, employment verification, rental references, and criminal history.
• Reduced Vacancy Rates: Our partnership with Cross Street allows for proven marketing strategies that attract high-quality tenants faster, minimizing costly vacancies.
• Professional Lease Agreements: We handle lease preparation, ensuring all documentation complies with local regulations and protects your interests.

Benefit: You gain peace of mind knowing your tenants are thoroughly vetted, reducing the risk of late payments, evictions, and property damage.

2. Hassle-Free Maintenance and Repairs

Property maintenance is time-consuming and often unpredictable. With Peak, you can leave the stress of maintenance behind.

• 24/7 Emergency Response: Our team provides around-the-clock support for urgent issues, ensuring tenant satisfaction and protecting your property from costly damages.
• Trusted Vendor Network: We have established relationships with reputable contractors and service providers, often securing better pricing and faster service.
• Proactive Maintenance: Regular inspections and preventive maintenance plans keep your property in top condition, preventing minor issues from becoming major repairs.

Benefit: You save time and money while ensuring your property remains in excellent shape.

3. Consistent and Reliable Rent Collection

Late or inconsistent rent payments can significantly impact your cash flow. Peak Properties ensures timely and structured rent collection.

• Automated Payment Systems: We utilize modern technology to streamline online payments, reducing missed or late payments.
• Lease Enforcement: Our team handles rent collections, late fees, and lease violations professionally and consistently.
• Efficient Eviction Management: In the rare case of eviction, we manage the process swiftly and in full compliance with local regulations.

Benefit: You enjoy steady, predictable income without the hassle of chasing down rent payments.

4. Maximized Property Value and ROI

A well-maintained, professional managed property not only retains its value but also generates stronger returns.

• Strategic Pricing: Alongside Cross Street, our team conducts in-depth market analyses to set optimal rental rates, ensuring you maximize revenue while maintaining competitive.
• Tenant Retention Strategies: Our focus on tenant satisfaction reduces turnover, lowering vacancy costs and ensuring long-term occupancy.
• Property Enhancements: We recommend and oversee cost-effective upgrades that boost your property's appeal and value.

Benefit: Your property generates stronger returns and maintains its market value.

5. Legal Compliance and Risk Mitigation

Navigating landlord-tenant laws and staying compliant with local regulation can be complex. Peak Properties ensures your property remains on the right side of the law.

• Up-to-Date Knowledge: Our team stays informed on evolving local and federal regulations, protecting you from costly legal missteps.
• Proper Documentation: We maintain detailed records of leases, communications, and maintenance logs; all of which are essential for legal protection.
• Fair Housing Compliance: We strictly adhere to fair housing laws, ensuring all tenant interactions are conducted professionally and equitably.

Benefit: You avoid potential legal disputes and remain fully compliant with all regulations.

6. Streamlined Financial Management and Reporting

Managing the financial aspects of your rental property can be overwhelming. Peak Properties simplifies it with transparent, organized reporting.

• Accurate Bookkeeping: Our bookkeeping department tracks all income, expenses, and vendor invoices, providing you with clear, detailed financial reports.
• Simplified Tax Preparation: Our organized records make tax season easier, providing you with annual summaries and necessary documentation.
• Budgeting and Forecasting: We help you create realistic maintenance and improvement budgets to maximize your investment returns.

Benefit: You gain clear financial visibility, making it easy to track your investment's performance.

7. Stress-Free Property Management

Perhaps the greatest benefit of partnering with Peak Properties is the freedom it gives you.

• Hands-Off Management: We handle day-to-day operations, so you don't have to.
• More Free Time: You can focus on growing your portfolio, pursuing other ventures, or simply enjoying your personal time.
• Peace of Mind: Knowing your property is in expert hands reduces stress and uncertainty.

Why Choose Peak Properties?

At Peak, we pride ourselves on delivering exceptional service and maximizing property value for our clients. Our dedicated team ensures your property is professionally managed, your tenants are satisfied, and your investment thrives. Whether you own a 3-flat, 50+ unit building, or a larger portfolio, we have the expertise and resources to protect and grow your investment.

Ready to experience the benefits of professional property management? Contact Peak Properties today to learn how we can help you streamline operations, increase profitability, and reduce the stress of property ownership.

Visit our website or give us a call at www.peakproperties.biz or 773-281-5252.

Disclaimer: This blog post is intended to provide general professional insights based on our experience in real estate and property management. However, it should not be interpreted as legal, tax, or financial advice. For guidance specific to your situation, we recommend consulting with a licensed attorney, tax advisor, or financial professional.

The post The Benefits of Hiring a Property Manager appeared first on Peak Properties, LLC. Blog.

In talking about his success as a leader of Peak, Mike said “my door is open to [Peak Peeps] whenever they want. . .I try to make myself as accessible as possible to people.”

Mike has worked hard to build a strong community at Peak. Learn more about these efforts, his success in scaling Peak’s business, investing in real estate, and the property management industry here.

The post Mike Zucker on Real Estate Chicago Style Podcast appeared first on Peak Properties, LLC. Blog.

Are you thinking about moving to Chicago? You’ve come to the right place.

Chicago is a vibrant city filled with diverse people, places, and things to do. The people here are friendly and there’s a fun, yet down-to-earth energy that makes it the perfect city to call home.

Take it from me – I ended up moving here after just one visit! In this article, I share all the top tips and information I think you should know before moving here.

25 Tips for Moving to Chicago
There Are Tons of Things to Do
Colorful show during the Art on The Mart at night in Chicago ART on THE MART—a free event that takes place along the Chicago River Thoughts of the Chicago Cubs, deep-dish pizza, and images of “the bean” may come to mind when considering moving to the Windy City. But trust me, there’s so much more to Chicago than meets the eye. You’ll find a diverse range of things to do in Chicago. Think art and theater performances, comedy shows, sporting events, recreational activities, festivals, museums, and so much more. Chicago also has its fair share of free and budget-friendly activities like the attractions in Lincoln Park, ART on THE MART, and others. You’ll never be bored living in Chicago.

The People Are Friendly
People wandering on a market in West Loop People milling about at a market in the West Loop (photo: Page Light Studios / Shutterstock) Friendly, midwestern hospitality is one of the main things that sets Chicago apart from other large cities. Most of the people here are nice and down-to-earth. You can expect friendly small talk with locals at restaurants, grocery stores, and other places. This friendly atmosphere is amazing considering the culture of similar large cities.

Chicago’s Cost of Living is Lower Than Comparable Cities
Don’t get me wrong, the cost of living in Chicago is still higher than the national average. However, the cost of living in Chicago is cheaper when compared to cities like New York City or Los Angeles. Average annual salaries in Chicago are anywhere between about $50,000 and $75,000. The average rent hovers around $2,000/month. This being said, rent prices vary by neighborhood and there is a decently wide range of housing options.

Chicago Has a Great Food Scene
A plate of hamachi crudo served in Girl and the Goat The hamachi crudo at Girl and the Goat, one of Chicago’s best restaurants Chicago’s food scene is truly awesome. Chicago restaurants offer cuisines from around the world that are varied and diverse. You’ll find everything from classics like deep-dish pizza and Garrett Popcorn to Michelin-Star restaurants and everything in between. The West Loop is Chicago’s go-to foodie neighborhood. Neighborhoods like Wicker Park, River North, and Logan Square are great food neighborhoods, too.

Chicago is Diverse
People sitting on a staircase along the Chicago River People gathered downtown along the Chicago River (photo: Thomas Barrat / Shutterstock) Chicago is a diverse city. Chicago’s population is about 45% White, 30% Black or African American, 29% Latino or Hispanic, and 7% Asian, as reported by a recent census. The age breakdown is pretty balanced and dispersed as well. You can meet people from all backgrounds and walks of life in Chicago, and this cultural diversity helps make the city culturally rich and unique.

Chicago is Walkable and Bikeable
A bicycle parked along the Lakefront Trail with the views of the city skyline Going for a Divvy bike ride along the Lakefront Trail Chicago has a walk score of 77 and a bike score of 72. It’s safe to say the Windy City is a walkable and bikeable one. Some of the most walkable neighborhoods include the Loop, Lincoln Park, the near North Side, Wicker Park & Bucktown, and Ukrainian Village. This being said, the majority of Chicago neighborhoods are walkable once you’re in them. Bike lanes are also located across the city. You can definitely bike to get around the city, just be mindful of cars and other safety precautions.

Public Transportation is Good
View at the Damen train stop in Wicker Park during a sunny morning The Damen train stop in Wicker Park Chicago has excellent public transportation overall, and taking it is one of the easiest ways to get around Chicago. Local trains and buses are operated by the Chicago Transit Authority (CTA) and train lines and bus routes are well spread throughout the city. The train is commonly referred to as “the L” and there are eight lines in total, all of which reach the downtown Chicago “Loop.”

Chicago is Driveable
View of cars driving at the Lake Shore Drive Driving on Lake Shore Drive Chicago’s overall driveability is another reason to love living in Chicago. Driving in cities can be a nightmare, but driving in Chicago isn’t too bad, especially once you get the hang of it. We have some hectic highways and drivers are a bit impatient, but Chicago is still pretty driveable in terms of things like day trips, running errands, and visiting Lake Michigan beaches. Basically, just know that you can get by in Chicago without a car, but it comes in handy to have one. Pro Tip: Most street parking in Chicago can be purchased through the ParkChicago app. Be sure to download this app beforehand if you plan on scouting Chicago and having your car.

There Are Tons of Great Neighborhoods
View from a boardwalk in Lincoln Park The nature boardwalk in Lincoln Park The range of diverse neighborhoods is one of the best parts of living in Chicago. There are 77 designated community areas and each one has a different vibe. The downtown Chicago Loop is where most visitors spend their time, but I urge visitors and potential residents to venture outside of this area. Lincoln Park and Gold Coast are affluent neighborhoods on Chicago’s north side. West Loop, West Town, and Wicker Park are trendier neighborhoods to the west. South Loop and Hyde Park are good neighborhoods to the south.

Chicago Has a Rich History and Sense of Community
Piggybacking off the last tip, Chicago offers a welcomed sense of community in most neighborhoods. The kind of vibe where you become a regular at your local coffee shop and local farmers market vendors know you by name. Much of this sense of community comes from the history that each neighborhood has, and continues to hold on to.

The Housing Market is a Little Tight
View oh houses at the Wicker Park & Bucktown neighborhood Brownstones in Wicker Park & Bucktown Anyone moving to Chicago should know that the housing market here is competitive, but it’s not quite as cutthroat as New York City. Winter is the best time to move to Chicago if you’re looking for the cheapest prices and the least amount of competition. Summer tends to be the busiest time to move here. My top Chicago tip for those looking to rent here is to know what you’re looking for, be decisive, and have all your documentation ready. This way, you can move quickly if you find a place you like.

There Are Different Ways to Find Housing
The homepage of Domu website Domu, an apartment website for Chicago Looking for a place to live in a new city can be stressful, but you should know that there are a variety of ways to look for houses and apartments. Apartments.com is a popular site, but you should check out Zillow.com and Domu.com as well. You can also check property management sites like Peak Properties, directly. Another option is to check Facebook groups for different neighborhoods to see if anyone is looking to sublease, searching for a roommate, etc. And if you can tour a property in person, do so.Pro Tip: Figure out what neighborhood you want to live in, and then go from there. Our Where to Stay in Chicago guide is a great resource for scouting.

Chicago Has Two Airports: O’Hare and Midway
View of the Hall of Flags in Terminal 3 on an international airport in Chicago The Hall of Flags in Terminal 3 Chicago is home to two international airports: Chicago O’Hare International Airport and Chicago Midway International Airport. “The L” has lines that go to both. The Blue Line will take you to O’Hare and the Orange Line will take you to Midway. O’Hare is a bigger airport and services more airlines, but Midway is a good option for regional flights. Regardless, having access to both airports is convenient.

Chicago is a Sports City
View during a game at Wrigley Field in Chicago Wrigley Field (photo: Steve Broer / Shutterstock) Chicagoans love their sports. And it’s easy to see why with seven professional teams and over 100 college sports teams. Chicago has two major league baseball teams: the Chicago Cubs and the Chicago White Sox. The Chicago Bulls are another household name for basketball. Other popular sports teams include the Chicago Blackhawks hockey team and the Chicago Bears football team.

There’s Great Recreation and Access to Nature
People enjoying their day under the clear blue sky in Ohio Street Beach Ohio Street Beach—one of many beaches that makes living in Chicago so great Chicago offers some truly unmatched opportunities for outdoor recreation and access to nature within the city. Lake Michigan and the Chicago River have pedestrian pathways like the Lakefront Trail and the Chicago Riverwalk. You can enjoy activities like boating, kayaking, and paddle boarding in the warmer months. There are also numerous parks in Chicago, which offer a peaceful escape from the hustle of the city. Grant Park and Lincoln Park are the two largest parks.

Chicago Events Are Aplenty
People watching Cautious Clay performing at the Taste of Randolph Street Festival Cautious Clay performing at Taste of Randolph Street Festival People gathered to watch Chicago Air and Water Show People gathered for the Chicago Air and Water Show Chicago has events going on throughout the city and the year. Some are major events that take place in Millennium Park and Grant Park are Lollapalooza and the Chicago Blues Festival. The Taste of Chicago is another major event and the world’s largest food festival. Aside from these big-name festivals, Chicago hosts smaller music festivals, cultural festivals, holiday festivals, and more. Many of these festivals and events take place across the city, and attending is a great way to get involved in the community and explore different neighborhoods.

Chicago Has World-Class Museums
A T-Rex skull displayed at the Field Museum T-Rex skull at the Field Museum The museums in Chicago are truly amazing, and there’s something for everyone. Places like the Art Institute, the Museum of Contemporary Art, and Pilsen’s National Museum of Mexican Art are perfect for art lovers. The Museum of Science and Industry, Field Museum, and Adler Planetarium are fantastic for those interested in all things science and history. Families will love the Shedd Aquarium, the Lincoln Park Zoo, and the Chicago Children’s Museum at Navy Pier.

The Architecture is Amazing
The Tribune Tower from the Chicago Riverwalk View of Tribune Tower from the Chicago Riverwalk Chicagoland is home to incredible architecture that breathes character and life into the city. Factors like the Great Chicago Fire contributed to the city attracting architects from around the world during the 19th century and after. The world’s first skyscraper was even built in Chicago. Everything from towering skyscrapers to ornate museums and quirky houses makes up Chicago’s urban landscape. Some examples are the Willis Tower, Tribune Tower, Art Institute, and Robie House. The city’s architecture is just one more thing to admire about living in Chicago.

Winter is Harsh
View of the frozen Lake Michigan during winter season in Chicago Lake Michigan, iced over Chicago has some seriously cold winters, there’s no way to sugarcoat it. December through February are the coldest months. Snow typically covers the ground and the sky is often white or gray for days on end during this time of year. The harsh Chicago winters are unfortunately unavoidable. The best way to combat them is with some warm clothing and planned activities to help beat any winter blues.

Summer Makes the Winter Worth it
People enjoying their summer at Montrose Beach Swimming at Montrose Beach Almost any Chicagoan will tell you that the summers make the brutal winters worth it. The energy in Chicago is unmatched during the summer, and the city really comes alive. People spill out onto the streets to soak up the sunshine and outdoor patios and rooftop bars are buzzing. The beaches along Chicago’s lakefront are also a huge bonus. I truly think summer is the best time of year in Chicago.

Chicago Has Good Educational Institutions
Colorful flowers at the University of Chicago in Hyde Park The beautiful campus at the University of Chicago in Hyde Park (photo: EQRoy / Shutterstock) Chicago Public Schools (CPS) currently rank as an above-average school district. Over 300,000 students are enrolled throughout CPS’ more than 600 schools. Some of the nation’s top high schools are located in Chicago, and a variety of private schools, charter schools, and other educational institutions can be found here. Aside from K-12, the city boasts top-notch universities like the University of Chicago, Northwestern University, Loyola University Chicago, and others. Overall, Chicago offers good education options for pre-K through college students.

Chicago Has a Good Job Market
View of commuters in Chicago after their work hours Commuters heading home for the day (photo: Page Light Studios / Shutterstock) Chicago has a large and strong economy with a diverse number of industries overall. Manufacturing, transportation, information technology, and healthcare are some of the top industries, but there are so many other popular industries like food, finance, and hospitality. Numerous corporate headquarters, top universities, and Fortune 500 companies are located in Chicago, and these employers offer many opportunities. Lastly, Chicago is home to countless small and independently owned businesses that provide opportunities for the community.

Crime is High, but Chicago Isn’t Unsafe Overall
Panoramic view of the city skyline of Chicago at night The Chicago skyline at night Chicago gets a bad reputation for being a crime-ridden city, but this should be taken with a grain of salt. Chicago does have crime problems. The crime rate is 33 per one thousand residents, which is higher than the national average. However, it should be noted that the majority of Chicago crime takes place in outlying neighborhoods to the west and south of the downtown Loop.

You Should Always Follow Basic Safety Precautions
View of an empty street in Chicago at night Be mindful of not walking alone at night (photo: R. Wellen Photography / Shutterstock) Chicago is a huge city at the end of the day, so you should always follow basic safety rules as a precaution. For example, be mindful of your surroundings, don’t walk alone at night, and avoid public transportation at night if you can. You don’t need to be paranoid in Chicago, but you should always be vigilant. For more, see our full guide to safety in Chicago. You Should Have Layers in Your Wardrobe The author, Lea Rose Allbaugh wearing a puffer jacket during winter season in Chicago A warm puffer jacket is a must in the winter I highly recommend packing and having layers if you plan on living in Chicago. The weather here can be super varied, with winters being brutally cold and summers being sweltering and hot. Spring and autumn fall somewhere in between but it’s also common to get random days of warmth or cold throughout the year. The best thing to do is to have layers on hand for the warmer months and be prepared with heavy-duty gear for the winter. *** Did you find this moving guide helpful? I hope so! If we missed anything, or you have moving tips of your own, share them in the comments below! Be sure to also read my Chicago itinerary if you want to plan a visit and get a good feel for the city before any potential move.

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(Photo Illustration by Steven Dilakian for The Real Deal with Getty)

 

 

 

Residential rent growth in downtown Chicago is starting to taper off after skyrocketing for months on end, but that doesn’t mean apartment demand is weakening. 
 

So far this year, 2,400 apartment units have been added to downtown, with a total of 3,600 expected by the end of 2024, Crain’s reported, citing Integra Realty Resources. That’s a notable increase from the 2,900 units added last year and 1,500 in 2022.

Despite the new supply, average monthly rent for Class A downtown apartments rose to $3.68 per square foot in the first quarter, up 1.94 percent from the same period last year. That follows a modest 1.7 percent year-over-year increase in the fourth quarter of 2023, indicating a strong market, said Ron DeVries, Integra’s senior managing director.

“We’ve gotten a little bit of rent growth with a lot of supply hitting the market, which tells us that the market is really strong and that the developers are doing well,” DeVries told the outlet.

While recent rent growth has been subdued compared to the dramatic 32 percent year-over-year spike in 2021, the market remains robust. The first quarter saw net absorption of 1,390 units — the highest since the market’s rebound post-pandemic. Integra forecasts a total absorption of 2,790 units for 2024.

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Peak Realty Chicago President Shane Rachman is dedicated to supporting every aspect of the team and helping owners create plans for their real estate assets. He loves real estate due to its tangible nature and the impact it has on people’s everyday lives.

Shane earned an engineering degree from the University of Iowa, which gave him a background in problem solving and thinking logically and operationally. These skill sets allow for an effective understanding of complicated ideas and concepts that have many moving parts to be broken down into simple, repeatable steps and formulas that work almost like a playbook, for example, investing in a real estate deal.

Early in his career, Shane discovered his entrepreneurial spirit and love for inspiring others to do the same. Shane puts his family first and real estate provides the perfect balance of hard work and time to be with those who matter most to him. In his free time, you can find Shane walking his dog around the many beautiful tree-lined blocks of Logan Square, and spending time with his wife Erica and two daughters, Sloane and Rafael.

Illinois Real Estate Journal: As the president of Peak Realty, you’ve nearly doubled the staff in just one year. How do you maintain a strong company culture amidst such rapid growth, and what steps do you take to ensure new hires align with the values of the organization?  
Shane Rachman: This is both the exciting and challenging piece of rapid growth. We have adopted a people-first mindset. To us, this means when we put our people first, believe in them and empower them to make decisions, good things will happen. Aligning our leadership team has been the key to success and is the foundation that will allow any further scale. We meet regularly to sync up on company-wide concepts and work hard to build a culture that thrives on respect, patience and specific feedback that truly starts with us.

Illinois Real Estate Journal: Peak Realty has gained a reputation for being a sought-after workplace in the industry. Could you share some of the key best practices you employ to foster a positive and productive work environment? 
Rachman: This question ties into the previous one but our philosophy in the workplace stems from our core business of being sales people. We treat this as more of a lifestyle than a job. Now I know that is easy to say but we practice it every day. It goes back to trusting our people to do what they need to do to get things done and innovate in their own direction. Taking time to find the right people up front plays huge into this style. I would choose the right culture fit with less specific skills than the opposite 10 out of 10 times.

Illinois Real Estate Journal: Building a successful team requires hiring exceptional candidates. What specific qualities and attributes do you look for when selecting new team members, and how do you assess whether they will fit into the company’s culture? 
Rachman: This is a business where you get in what you put out. Those candidates who aren’t scared of a startup mentality and who are excited to have autonomy and control over their own schedule are immediate fits. 

Illinois Real Estate Journal: With the recent expansion in Denver, how do you ensure that the company culture is effectively transmitted and maintained across different locations? How do you encourage collaboration and communication among team members in different offices? 
Rachman: Our team and systems are strong and able to tolerate the growth. We were lucky to have a couple of people in our office with direct connections to real estate professionals in Denver. In our business, built upon strong connectors, a strong referral is second to none. We have spent time and money bringing the Denver group into the Chicago HQ and sending our team out to the mountains as well. We work every day to build a better bridge between the two groups and it seems to be strengthening as we grow. This makes us really excited about what this means for our future.

Illinois Real Estate Journal: What role does ongoing training and professional development play in building a strong company culture, and do you support your team’s growth and advancement in their careers? 
Rachman: This is the key to our next evolution of growth. Jodi Dougherty joined our team eight months ago as the Director of Broker Development. Her full-time focus is getting this right, to build brighter futures for each one of our brokers. It is a choose-your-own-adventure business, which is what makes it so fun, yet everyone needs guidance along the way. There are such brilliant minds in our office who can cover any facet of real estate, so Jodi is focused not only on building career plans for newer brokers but also organizing specific times for our team members to absorb knowledge from those who have had strong success in their specific directions. Our more senior members thrive when they are asked to speak or provide some guidance and key knowledge. We truly have a team feel pervading our group.  

Illinois Real Estate Journal: How do you encourage innovation and creativity within your team while maintaining a focus on achieving business goals?  
Rachman: We believe everything is possible. This is proven to our team every day by Ari Weil, Director of Technology. A long time ago we chose to custom-build a technology solution instead of using Sales Force. Although it was a more expensive and more daunting direction at the time, we reap the benefits of this investment in original technology today. Building custom business intelligence pieces (think AI for data analytics and reporting), developing thoughtful workflow and robust data that supports our approach to sales, leasing and more. The innovation is driven by our business needs as we are real-time in the field every day collecting feedback and trying to make our people’s lives easier.

Illinois Real Estate Journal: Every leader has a unique leadership style. Can you describe your leadership philosophy and how it influences the culture and atmosphere within Peak Realty? 
Rachman: For better or for worse, I am incapable of micro-managing, but I believe in strong people who strive to solve problems. I have found problems in our business over time, tried to organize them and then have found people who are better than me to innovate on top of those directions. I think that’s really the key. Being a leader who can identify people who love solving problems, and doing so in a simple way where humans are still at the wheel when automation and technology are intensely leveraged to assist.

Illinois Real Estate Journal: Maintaining a positive and motivated team is essential for growth. How do you handle challenges and setbacks?   
Rachman: Be as direct as possible and put the cards on the table. I bought several leaders a book called Difficult Conversations that my dad once bought for me, and that is the key. It is important to remember that there are two sides to every story. If you are honest and raise topics not in an accusatory way but truly in a discovery-based approach, it is amazing what you can find out. When your team is receptive to that and takes these discussions as motivation to problem solve and get better, we all win. 

Setbacks are part of the game. Each time something doesn’t go our way, we learn from it and get better. It is part of that competitive spirit I think most of us have.

Illinois Real Estate Journal: How did you get started on this career path? Who or what inspired you to be the leader you are today?
Rachman: I have been lucky to have many great influences in my life and at the risk of sounding like someone winning an academy award I will keep it as brief and concise as possible:

My parents have taught me how to communicate and listen so well over time. On top of that, hard lessons along the way about not quitting have paid off in the long run. Lastly, my dad has the best moral compass of anyone I know and that is something I try to emulate every day.

Uncle Michael convinced me to come into real estate. He definitely cultivated an entrepreneurial part of my soul I never knew I had. I owe so much of my real estate acumen to him but almost more importantly he taught me to push past the first answer and that if an answer doesn’t feel right in your bones, it is ok to challenge it. That has probably changed me more than anything.

My wife taught me how to be more direct and decisive. Being a leader requires intense decision making and you need to keep moving. Her direct nature has inspired me to be more direct in my own approach to things. Tact is always important, but you can’t miss the mark on a message just because you are nervous to put it out there.

Greg Moyer has been a great business mentor and motivator. Also, in my earlier days he helped me shape my thoughts around company structure and simply aligning a team to get things done.

There are so many more people, but these are the ones who come to mind and have been there since the early days. I genuinely learn from every person I meet along the way; some just answer my phone calls more often.

The post Building a team culture appealing for today’s CRE pros: A Q and A with Shane Rachman, Peak Realty Chicago appeared first on Peak Properties, LLC. Blog.