ChicagoDowntown / Loop

Habitat adds 21 East Chestnut to condo management portfolio

by Joe Zekas on 11/29/12

The Habitat Company is best known to many Chicagoans as a developer of high-rise apartments, including the 43-story, 450-unit tower currently underway at 360 W Hubbard in River North.

The company’s diverse service portfolio also encompasses the management of 20,000 units of public, affordable, market-rate and student housing – and condominiums – in six states. The recently opened 1225 Old Town, one of our sponsors, is the latest addition to its apartment management roster.

According to a recent news release, Habitat has been hired to manage the 1960s vintage 24-story, 163-unit condominium at 21 East Chestnut. The resident response has apparently been positive:

“Heavy weights lifted off my shoulders just hearing Habitat’s proposal to be our new management company. I thought the Association could save money and the building would be better if they only delivered half of what I was hearing. Within two months Habitat has exceeded my expectations in every area. Without being given a good paper trail on past budgets, they pulled together for 2013 one of the best budgets I have ever seen. Habitat is a real partner with our Association. Lastly, our onsite manager is providing a consistent welcoming and professional presence for our residents and staff that makes coming home a wonderful experience”, said Susanne Smith, 21 E. Chestnut Association, Board President.

A while back I sat with Mark Segal, Habitat’s CEO, for a chat about Habitat’s impact on the city and its skyline.

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