Financial triage for aging condos: can this condo be saved?: An article from: Journal of Property Management
Book Details
Author(s)Marcy Mason
PublisherInstitute of Real Estate Management
ISBN / ASINB00096LTLO
ISBN-13978B00096LTL9
AvailabilityAvailable for download now
Sales Rank11,766,404
MarketplaceUnited States 🇺🇸
Description
This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on July 1, 1996. The length of the article is 1927 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: The property manager of a high-rise condominium in Chicago, IL, has successfully raised funds for the renovation of the 268-unit apartment complex. David Gnatt, the manager of 720 Gordon Terrace, took over management of the garage, reduced garage labor fees, reduced the maintenance staff, engaged in competitive bulk purchasing bidding with vendors, and reduced heating costs. He also introduced a new access control system and re-priced revenue-generating amenities. As a result of these efforts, over $1.5 million has been raised to upgrade the building since 1990. Major capital expenditures have included refurbishing of exterior concrete walls and window caulking, restoring concrete pool deck and concrete garage floor, replacing chillers, rebuilding boilers, and refurbishing the party room. The unit values of the condo have since increased by about 38% and assessments have gone down in the 1996-97 budget.
Citation Details
Title: Financial triage for aging condos: can this condo be saved?
Author: Marcy Mason
Publication:Journal of Property Management (Refereed)
Date: July 1, 1996
Publisher: Institute of Real Estate Management
Volume: v61 Issue: n4 Page: p56(5)
Distributed by Thomson Gale
From the supplier: The property manager of a high-rise condominium in Chicago, IL, has successfully raised funds for the renovation of the 268-unit apartment complex. David Gnatt, the manager of 720 Gordon Terrace, took over management of the garage, reduced garage labor fees, reduced the maintenance staff, engaged in competitive bulk purchasing bidding with vendors, and reduced heating costs. He also introduced a new access control system and re-priced revenue-generating amenities. As a result of these efforts, over $1.5 million has been raised to upgrade the building since 1990. Major capital expenditures have included refurbishing of exterior concrete walls and window caulking, restoring concrete pool deck and concrete garage floor, replacing chillers, rebuilding boilers, and refurbishing the party room. The unit values of the condo have since increased by about 38% and assessments have gone down in the 1996-97 budget.
Citation Details
Title: Financial triage for aging condos: can this condo be saved?
Author: Marcy Mason
Publication:Journal of Property Management (Refereed)
Date: July 1, 1996
Publisher: Institute of Real Estate Management
Volume: v61 Issue: n4 Page: p56(5)
Distributed by Thomson Gale
