Commercial & Receivership Management Services
PRG Management is comprised of seasoned Chicago property managers who are experienced in managing commercial properties and receivership.
Our property managers effectively manage properties during transitional phases ensuring stability and property value retention. We're committed to leveraging our expertise to navigate complex situations and drive successful results for our clients.
Commercial Management Services:
Lease negotiation, renewal and management
Asset Types:
Multi-Family
Retail
Office Space
Industrial
Vacant Land
Maximize profitability
Common area maintenance, bill back and reconciliation
Property valuation and leasing services
Tenant build-out oversight, management and negotiation
Redevelopment of existing assets
Fully transparent, on-demand financial reporting
RECEIVER AND TRUST SERVICES:
Honor and uphold the contractual rights of the tenants in the commercial property.
Safeguard the welfare of all tenants and guests.
Continue to manage/oversee/re-contract ongoing operations and expenses.
Make all commercially reasonable efforts to maximize profitability of the property.
Exercise best efforts on behalf of the lender and borrower.
Oversight of the property manager.
Court required reporting and hearing attendance.
Overall, each commercial property is different making it important to weigh the potential liabilities. Does construction need to be done? Has management been abandoned and for how long? Are there any environmental concerns? Does the commercial property require marketing for tenants? From there, a decision can be made on if a receivership is worth pursuing.