ALPS Property Management | Chicago Receivership Services
When properties fall into distress, timely action is essential to protect value and stabilize conditions. At ALPS Property Management, we specialize in property preservation and construction services tailored to receivership cases across the Chicago metropolitan area.
Whether it's an abandoned multi-family building, a foreclosed commercial space, or a partially completed development, our team delivers reliable, court-compliant solutions to restore safety, value, and function.
Our Services
1. Emergency Securing & Safety Compliance We promptly assess and secure properties to prevent further deterioration, vandalism, or liability. Our team ensures compliance with local building codes, court orders, and safety regulations, including:
- Board-ups
- Hazard removal
- Fire, water, and mold mitigation
- Utility management and reconnections
2. Stabilization & Preservation Once secured, we implement tailored preservation plans to prevent further loss in value. This may include:
- Roof tarping or temporary repairs
- Pest control
- Debris removal
- Winterization or de-winterization
3. Renovation & Construction Oversight We manage small to large-scale renovations, whether you need minor habitability upgrades or full gut rehabs. As an experienced general contractor, ALPS can handle:
- Code violation corrections
- Permit management
- Interior and exterior renovations
- Capital improvement planning
4. Transparent Reporting Our preservation and construction projects are fully documented with detailed photo logs, progress updates, and budget tracking — all accessible via a secure owner portal. Court-appointed stakeholders can rely on ALPS for clarity and accountability every step of the way.
Why Choose ALPS for Receivership Construction & Preservation?
- Local Experience: Deep familiarity with Chicago's municipal code enforcement, zoning, and permitting systems.
- Rapid Response: We act swiftly to secure distressed properties and begin stabilization within 24-48 hours of appointment.
- Licensed & Insured: Fully bonded, licensed, and insured to meet all court and municipal requirements.
- Receivership Focus: Decades of experience managing properties under court-appointed receiverships, ensuring compliance and financial discipline.
Case Studies
Case Study 1: South Shore Apartment Turnaround
Challenge: A 12-unit apartment building in South Shore was abandoned mid-renovation, with exposed wiring, open access points, and a partial roof collapse.
Solution: Within 48 hours, ALPS secured the premises, cleared hazards, and coordinated emergency roof stabilization. Over the next 90 days, we completed a full rehab, resolved city violations, and restored occupancy to 100%.
Outcome: The court praised the rapid turnaround and budget adherence, and the asset was stabilized for a successful disposition.
Case Study 2: Commercial Strip in West Garfield Park
Challenge: A three-unit commercial property with extensive water damage, code violations, and open squatters. The property was in danger of being condemned.
Solution: ALPS removed unauthorized occupants, mitigated mold and water damage, and coordinated with city inspectors to remedy 14 code violations. We also facilitated leasing improvements to attract new tenants.
Outcome: The property passed reinspection, new leases were signed within six months, and the asset was prepared for refinance.
Case Study 3: Incomplete New Construction in Humboldt Park
Challenge: A partially completed four-flat had been sitting idle for over a year due to a developer dispute and litigation.
Solution: ALPS provided a full structural review, developed a revised scope, and secured necessary permits. We completed framing, mechanicals, and finishing within six months under strict court oversight.
Outcome: The property was completed to code and listed on the market, achieving full market value upon sale.