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A family-owned and operated company, Seminary Properties and Management, Ltd., has conducted business from its headquarters on the North side of Chicago for nearly 50 years. Seminary Properties and Management, Ltd., has residential real estate in some of Chicago’s most desirable neighborhoods, including Lakeview.

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A family-owned and operated company, Seminary Properties and Management, Ltd., has conducted business from its headquarters on the North side of Chicago for nearly 50 years. Seminary Properties and Management, Ltd., has residential real estate in some of Chicago's most desirable neighborhoods, including Lakeview.

Delineated by Damen Avenue, Diversey, Irving Park, and the shore of Lake Michigan, Lakeview is popular among locals for what the official destination marketing organization Choose Chicago describes as a "laidback atmosphere." Lakeview was originally established as an independent city, but became part of the city of Chicago upon voter-approved annexation in 1889.

Over the years, Lakeview has developed into a thriving and bustling community that rivals Lincoln Park in terms of amenities, which range from restaurants and shops to sports and entertainment venues. Most notable for baseball fans, Lakeview contains the community of Wrigleyville and the Chicago Cub's home ballpark, Wrigley Field. Other notable features of Lakeview include the historic Music Box Theater, Metro, The Vic, and the large collection of vintage guitars at the Chicago Music Exchange.

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A family-owned and operated company, Seminary Properties and Management, Ltd., has conducted business from its headquarters on the North side of Chicago for nearly 50 years. Seminary Properties and Management, Ltd., has residential real estate in some of Chicago's most desirable neighborhoods, including Lakeview. Delineated by Damen Avenue, Diversey, Irving Park, and the shore of...

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High Income Earners Driving Up Rents in Chicago

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High Income Earners Driving Up Rents in Chicago

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Founded in 1975, Seminary Properties and Management, Ltd. is a family-owned property management business that started with just one location on Seminary Avenue, gradually growing its portfolio to include properties across Chicago. Staffed by a dedicated team of professionals, Seminary Properties and Management, Ltd. keeps informed of trends in Chicago’s property market, such as the rise in high-income renters.

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Founded in 1975, Seminary Properties and Management, Ltd. is a family-owned property management business that started with just one location on Seminary Avenue, gradually growing its portfolio to include properties across Chicago. Staffed by a dedicated team of professionals, Seminary Properties and Management, Ltd. keeps informed of trends in Chicago's property market, such as the rise in high-income renters.

Chicago is experiencing a boom in high-income renters, according to a recent study conducted by the Harvard Joint Center for Housing Studies. After analyzing real estate development data from the region, researchers found a 38.8 percent increase in the number of renters with an income of $75,000 and above between 2010 and 2018. As of 2018, there were 318,000 households in Chicago occupied by renters earning $75,000 or more, making up 25.5 percent of total renter households. In 2010, this group comprised only 19.9 percent of total renter households.

This rise in high-income renters is driving a boom in the construction of high-end apartments. Between 2010 and 2018, developers constructed 175,000 apartments in Chicago that were rented out for a minimum of $1,400 a month, a supply increase of 127 percent from 2010. This increase led to a decline, by 10.7 percent to 720,000, of units being rented out for under $1,000.

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High Income Earners Driving Up Rents in Chicago

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Founded in 1975, Seminary Properties and Management, Ltd. is a family-owned property management business that started with just one location on Seminary Avenue, gradually growing its portfolio to include properties across Chicago. Staffed by a dedicated team of professionals, Seminary Properties and Management, Ltd. keeps informed of trends in Chicago's property market, such as the...

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A Hands-On Approach to Property Management

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A Hands-On Approach to Property Management

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For more than four decades, Seminary Properties and Management, Ltd. has assisted residents on the north side of Chicago with finding safe and desirable apartments. A family-owned business, Seminary Properties and Management, Ltd. takes a hands-on approach to the way it manages properties.

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For more than four decades, Seminary Properties and Management, Ltd. has assisted residents on the north side of Chicago with finding safe and desirable apartments. A family-owned business, Seminary Properties and Management, Ltd. takes a hands-on approach to the way it manages properties.

The hands-on approach to property management means that maintenance staff completes regular and preventative maintenance on the apartments as well as common areas to keep them looking and functioning optimally. If the staff notices an issue, they take action right away, which results in a reduced number of emergencies and inconvenience to residents. Subsequently, residents should not have to reach out to management as often.

Residents get to know the staff because they see the staff working on and inspecting the property, resulting in higher satisfaction in the rental relationship and easier rent payment collections. The physical presence of the staff also allows them to monitor contractors to ensure that work has been completed correctly.

Categories Tags Posted on Real Estate property management

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A Hands-On Approach to Property Management

# data[].attributes.attachment_link.description
For more than four decades, Seminary Properties and Management, Ltd. has assisted residents on the north side of Chicago with finding safe and desirable apartments. A family-owned business, Seminary Properties and Management, Ltd. takes a hands-on approach to the way it manages properties. The hands-on approach to property management means that maintenance staff completes regular...