HOA management fees North Shore, condo management pricing Evanston, property manager rates Wilmette, how much does property management cost, Chicago property management fees 2025">

Property Management Costs in Chicago: 2025 Pricing Guide

Quick Answer: Property management in Chicago costs 4-10% of monthly rent for residential properties. HOAs pay $200-500 per unit monthly. North Shore properties average 5-8% due to premium service requirements.

18+

Years Experience

50+

Properties Managed

2,450+

Units Under Management

Properties Lost

Chicago Property Management Fee Structure 2025

Based on real data from managing 50+ properties across Chicago and North Shore suburbs:

Service Type	Chicago Downtown	North Shore	What's Included
Residential Management	6-10% of rent	5-8% of rent	Full service, 24/7 support
Condo Association	$250-400/unit	$200-350/unit	board support, finances, maintenance
HOA Management	$200-500/unit	$175-450/unit	Full HOA services
Townhome Communities	$150-300/unit	$125-275/unit	Exterior maintenance, common areas
Leasing Only	50-100% first month	50-75% first month	Tenant placement only

Additional Services & Fees

Setup Fee: $0 - We waive setup fees for new clients
Lease Renewal: $0-200 depending on complexity
Eviction Coordination: $200-500 plus legal fees
Project Management: 10% of project cost for major renovations
Financial Reporting: Included in base fee
24/7 Emergency: Included in base fee

Property Management Costs by Chicago Neighborhood

Gold Coast

Luxury high-rise management

7-10% of rent

Concierge coordination
Premium vendor network
Board meeting support

Lincoln Park

Mixed residential properties

6-9% of rent

Vintage building expertise
Student housing options
Rapid maintenance response

Evanston

University area specialists

5-8% of rent

Northwestern proximity
Multi-family expertise
Year-round management

Highland Park

North Shore premium

5-7% of rent

Estate management
HOA specialists
Luxury service standards

Wilmette

Family community focus

5-8% of rent

School district coordination
Family-oriented services
Community management

Winnetka

Exclusive properties

6-8% of rent

Luxury home management
Estate maintenance
Premium service tier

Get Your Instant Property Management Quote

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Why Our Pricing Delivers Superior Value

Budget Services

3-5% of rent

❌ Limited availability
❌ Basic reporting
❌ Slow response times
❌ Hidden fees

Manage369

4-10% of rent

✅ 24/7 availability
✅ Comprehensive reporting
✅ Same-day response
✅ Transparent pricing
✅ 18+ years experience
✅ 50+ properties

National Chains

8-12% of rent

❌ No local expertise
❌ Call center support
❌ Standardized service
❌ Additional fees

Understanding Property Management Costs in Chicago

When evaluating property management costs in Chicago, it's essential to understand that fees vary significantly based on property type, location, and service level. Our 18+ years of experience managing 50+ properties across Chicago and the North Shore gives us unique insight into fair market pricing.

Factors Affecting Property Management Costs

Property Location: Downtown Chicago properties typically command higher management fees (6-10%) due to increased complexity and higher property values. North Shore suburbs like Wilmette, Winnetka, and Highland Park average 5-8% due to lower operational costs.
Number of Units: Larger properties benefit from economies of scale. Properties with 100+ units often see per-unit costs 20-30% lower than smaller properties.
Service Level: Full-service management including 24/7 maintenance, financial reporting, and board support costs more than basic rent collection services.
Property Condition: Older properties requiring more maintenance coordination may incur higher management fees.
Market Conditions: Competitive markets with high tenant turnover may require more intensive management services.

What's Included in Professional Property Management?

Professional property management fees typically include:

Tenant screening and placement
Rent collection and enforcement
Maintenance coordination (labor costs separate)
Financial reporting and budgeting
Legal compliance and documentation
24/7 emergency response
Vendor management and negotiations
Property inspections
Board meeting support (for associations)
Online owner and tenant portals

Hidden Costs to Watch For

When comparing property management companies, be aware of potential hidden fees:

Setup Fees: Many companies charge $500-2000 to onboard new properties. We waive all setup fees.
Lease Renewal Fees: Some charge 25-50% of monthly rent for renewals. We charge $0-200 maximum.
Maintenance Markups: Watch for companies that mark up vendor invoices by 10-20%.
Technology Fees: Monthly charges for "software" or "portal access" ranging from $10-50.
Vacancy Fees: Some companies charge fees even when units are vacant.