RMK Management Corp., one of the Midwest’s largest market-rate apartment management firms, has been named property manager for three multifamily rental properties in Chicago’s northern suburbs owned by Libertyville, Illinois-based TLP-Fides.
“Having TLP-Fides put its trust in us for the management of not just one but three of its Chicago-area communities is exactly the type of vested client relationship we take pride in as a management firm that’s built our reputation specializing in Chicagoland luxury rental communities,” said Anthony Rossi Jr., president of RMK Management Corp. “These new management contracts also showcase the breadth of our services and expertise, from handling day-to-day leasing and management to coordinating renovations and improvements to overseeing a condo deconversion and subsequent lease-up.”
The four-story, 56-unit rental community offers one and two-bedroom floor plans, some with a private terrace. Several units have been recently updated with upscale finishes including granite countertops, subway tile and stainless steel appliances in the kitchens and vinyl plank flooring throughout. The property offers a convenient location just a one-minute drive or short walk to the Deerfield Metra Station as well as a variety of shops, restaurants. Outside the building, residents can enjoy proximity to public parks, bike trails and golf courses; inside, residents benefit from the building’s 16,000 square feet of first-floor commercial space, which includes a Starbucks, Chipotle, UPS Store, hair and nail salon, and other retailers.
“The planned updates to common areas and amenities at this community will elevate the lifestyle and resident experience at The Terraces, including a newly renovated lobby with gas fireplace, fitness center and resident lounge with a kitchenette,” said Rossi. “These enhancements will help this property remain a top choice for years to come, whether renters are looking to live close to one of the many corporate headquarters in Deerfield or have access to the great public schools in the area. Residents can have peace of mind knowing they’re in good hands during this remodel, as our team is well-versed in ensuring renovations have minimal impact on the daily operation of a property.”
RMK also will be navigating renovation work as it takes over leasing and management at NorthEnd Apartments, a condo deconversion at 375 W. Winchester Road in Libertyville. The three-story community offers 32 rental units and is located near downtown Libertyville and the Libertyville Metra station. TLP-Fides, which acquired the property in November, has already begun property improvements including a new roof and renovations to some apartment interiors. Enhancements to the lobby, hallways, stairwells, laundry room, community room, landscaping and parking lot are also planned for the near future.
“From a leasing standpoint, these units have tremendous appeal because they have larger floor plates than a typical apartment and some feature dining rooms and large closets,” said Rossi. “Our property manager is already hitting the ground running with leasing and communicating renovation updates to the residents for a seamless and enjoyable experience.”
NorthEnd Apartments features large one and two-bedroom floor plans, some with hardwood or vinyl plank flooring, and fully equipped kitchens with a dishwasher and microwave. Outdoor parking is available at no additional charge. The community is 85% occupied and leased, and five units are currently available, a few of which are undergoing some improvements.
RMK also took over the management and leasing of Eleven5 Lake Apartments in September. The three-story luxury rental community is located at 115 Lake Street in downtown Libertyville and is currently 97% occupied and leased. The property offers 34 apartments with one, two and three-bedroom designs along with 25,000 square feet of first-floor commercial space. Residents can walk to a vast variety of shopping and dining options in downtown Libertyville, the Libertyville Metra Station, local public parks and recreational trails.
“Eleven5 Lake is right in our wheelhouse as a management firm with its prime, walkable location and beautiful residences that contribute to the appeal of this smaller, boutique property,” said Rossi. “Our team is already at work establishing relationships with residents and providing personalized service that goes hand-in-hand with the more intimate atmosphere of this property and the lifestyle it offers.”
