Condominium Management

MBT Services Corporation is an experienced residential and commercial property management firm. The business was established in 1986 and its principals have been involved in real estate management in Chicago since 1975. We are currently managing property in the Lincoln Park, Lakeview, River West, St. Ben and Roscoe Village areas of Chicago. Our services include:

  1. Assessment collections. MBT Services will collect all assessments and other income when due and will deposit all revenues in a special bank account maintained by MBT Services for the Association.

  2. Bill Payments. All expenses incurred by the building will be paid out of the checking account maintained by MBT Services for that property. Assuming sufficient cash flow, MBT Services will be responsible for the timely payment of all bills covered by the assessments collected.

  3. Maintenance/Repair. MBT Services employs experienced and qualified maintenance/repair staff on a full-time basis. Our maintenance/repair staff will attend to all general maintenance of the building, including cleaning of outside and inside common areas, basement, garbage collection area and backyard. We will also be responsible for daily repairs, as required. Maintenance and repair work will be billed separately. Currently, MBT Services’ maintenance personnel are billed at $28.00 per hour.

    We maintain relationships with outside contractors for major repairs. The Association is consulted before any major repairs are undertaken.

  4. Accounting. Computer-generated Income Statements will be prepared at each month-end and be provided to the Association. Detailed explanations of any out-of-ordinary expenses will be included with the month-end reports.

  5. Leasing. If needed, we are constant participants in the rental markets and can advise any Owner on appropriate rent levels and strategies. MBT Services will advertise and post vacancies, screen tenant applications and arrange for credit checks. Once an Owner has approved a tenant, we will prepare the lease, acquire signatures and work with the tenant and Association on moving-in details. MBT Services is currently charging one month’s rent as our leasing commission. There is a $15.00 fee for renewal leases.

  6. Asset protection and enhancement. MBT Services will endeavor to monitor, maintain and improve the physical condition of the property, as well as the financial return to the Owners. We will periodically confer with the Association on suggested repairs and improvements.

MBT Services’ management fees are negotiated on a case-by-case basis, depending on a building’s size, location and condition.

Building 1 Image

Building 2 IImage

Building 3 Image

Building 4 Image
©2003 MBT Services. All Rights Reserved

If you are having problems with this site please contact the webmaster.