Property Development

East Lake Management & Development Corp. (ELMDC) has been developing properties across Chicago and the Midwest for over thirty years. East Lake has an extensive track record of developing residential properties, commercial and office buildings, and mixed-use developments.

East Lake earned its excellent reputation in the real estate community by developing a diverse portfolio ranging from multi-million dollar public facilities to commercial shopping centers to single and multi-family residential projects. Development has included new construction as well as rehabilitation of existing structures. East Lake is known for its ability to produce high-quality results for projects that must meet tight time schedules, adhere to strict programmatic regulations, and remain within limited budgets.

East Lake provides development services for third parties on a fee basis and for projects in which the firm itself has an equity interest. East Lake has developed and managed properties for institutional clients (Chase Bank, Illinois Service Federal), public bodies (Government Services Administration, Public Building Commission, Chicago Housing Authority) and not-for-profit housing providers. East Lake’s development services include site analysis and acquisition, budget projections and financial analysis, finance packaging, design oversight, marketing, and leasing.

East Lake’s in-house development team consists of several professionals who are well versed in all aspects of development, including site planning, financial modeling, entitlement work, construction management, and community engagement. In addition to development-specific tasks, these individuals also take active asset management roles at the company, assisting in lease-up and property management transitions, identifying and tracking capital improvement projects, and ensuring that properties are operating at maximum efficiency.

The East Lake team has delivered thousands of residential units over the last thirty years with a wide variety of financing mechanisms and serving a diverse resident pool. This team has used Low Income Housing tax credits, bonds, FHA insurance, mod rehab funds, HOME and CDBG funds, private equity and debt, Class 9, Low Income Trust Fund, HOPE VI and other financing mechanisms. They have delivered family and senior units, both subsidized and market rate.

East Lake has also developed numerous commercial and office properties throughout the City. These have included office parks, shopping centers, retail buildings, and mixed-use properties.