@properties, the largest independent real estate brokerage firm in Illinois, and Seneca Property & Asset Management, a Chicago-based property management firm, recently formed a strategic partnership to offer multi-family owners and investors a full-service property management and leasing solution.
@properties will provide leasing services, while Seneca Property & Asset Management handles property management. Michael Golden and Thaddeus Wong, co-founders of @properties, and Tom Morabito, president of Seneca Property & Asset Management, will jointly oversee the venture.
The venture’s first assignment is 850 Lake Shore Drive, a 198-unit, Class A apartment community by Chicago-based Integrated Development Group and Washington, DC-based National Real Estate Advisors. Straddling two of Chicago’s most affluent downtown neighborhoods, the Gold Coast and Streeterville, 850 Lake Shore Drive involves the adaptive re-use and top-to-bottom renovation of the historic Lakeshore Athletic Club building, built in 1927. Monthly rents at the property range from $2,290 per month for a studio to $12,000 for a three-bedroom duplex apartment.