RMK Management Corporation has taken over leasing and property management for a three-property, 407-unit Midwest rental portfolio. Trevian Capital and Crown Properties, both headquartered in New York, acquired the properties last May for $34,650,000 and have since spent over $3,500,000 in capital improvements.
“One of the key advantages that we offer to the new owners and residents is our familiarity with the properties, as we managed all three of the properties in 2016,” said Anthony Rossi, Sr., CEO of Chicago-based RMK Management Corp. “RMK is an award-winning firm known for its superb, resident-focused customer service, so we can provide the kind of top-notch service and seamlessly take over management of these garden-style buildings that will elevate residents’ living experience.”
Summit Hill in Madison, Wisconsin features a mix of studio, one-bedroom lofts and two-bedroom apartments that feature high ceilings, fireplaces, modern kitchens and in-unit laundry. Apartments, ranging from 450 to 950 square feet, come with a balcony, deck or outdoor space, free storage space and parking. The 123-unit property offers easy access to dining, entertainment, shopping, the state capital and is a 10-minute walk to the University of Wisconsin-Madison.
Wing Park, a 184-unit property near the Fox River in Elgin, Illinois, offers one- and two-bedroom apartments, each with one bath, and floor plans ranging from 650 to 925 square feet. Kitchens feature electric appliances, dishwashers, window blinds and many units offer separate dining rooms and foyers. The community is next to a large community park, giving residents easy access to shopping, entertainment, major interstates and downtown Chicago from the Metra commuter rail.
Located eight minutes from the Indiana Dunes, Abbey Lane, a 100-unit property in Chesterton, Indiana, features one- and two-bedroom units with one bath. Layouts, ranging from 839 to 1,398 square feet, offer fireplaces, dining rooms, lofts, dens and ample closet space. The property is also one of the few pet-friendly communities in the area and is near restaurants, shopping, historical sites and entertainment. For commuters, a South Shore commuter rail reaches downtown Chicago in just over an hour.
Apartment renovations are part of the major capital improvements that the new owners have implemented at each of the properties. Enhancements to outdoor amenities include new grilling stations, pet parks, playlots, tennis courts and two clubhouses that were redesigned to offer social rooms with cyber cafes.
“The extensive improvements to the property’s apartments and grounds will make these rental communities even more desirable to individuals and families looking for maintenance-free living and a comfortable place to call home,” said Rossi.