Top 10 Proptech Companies in Chicago

Top 10 Proptech Companies in Chicago

Every country has various sectors available to help them boost their economy significantly.

Some countries depend on their oil reservoirs, while others make a profit through tourism. In the past few years, it has been noticed that the real estate sector has started to show promising growth in America.

Through Chicago alone, the real estate industry had a major positive impact on the country’s economy. With the continuous increase in population, the demand for renting and buying a house has reached its pinnacle at this time.

Various entrepreneurs and VC firms have already started to seize the opportunity of dominating the real estate market in Chicago.

With the digitization of real estate arises an opportunity to serve the customers and build your brand. There could be no better time than today for entrepreneurs who are seeking to start a real estate company.

Let’s have a look at the top 10 proptech companies in Chicago to study their business model so you can have an idea regarding where to get started:

10) Digital Masterplanning

Founder – David Wilts

Founding Year – 2020

Headquarter – Chicago, IL

Digital Masterplanning has been a digital revolution in the field of real estate since its launch. The company offers 3D tools to real estate developers for the better presentation of their ideas to keep the stakeholders engaged and on the same page. With such an enhanced presentation portfolio, it becomes easier than ever for developers to attract buyers and renters. One can also track the progress and update it on the datasheet for everyone to be on the same page. In order to understand this innovative presentation style, you must visit their website here.

9) Flamingo

Founder – Jude Chiy

Founding Year – 2015

Headquarter – 700 N Green St. Chicago IL 60642

Flamingo entered the market with the clear agenda of helping landlords retain residents. This eliminated the need to hire a retention specialist to keep a hold on residents. Flamingo’s app offers an unimaginable number of benefits to their residents so they don’t consider leaving the place. There are various fun events organized for the residents to keep the vibe in check and their lives interesting. They also get the luxury to track rent payments at the comfort of their homes. If you’re interested in knowing how Flamingo made a place for itself in the market, then visit the link here.

8) Ames Group Chicago

Founders – Jennifer Ames, Paul Lazarre

Founding Year – 1994

Headquarter – 2401 N Clark St, Chicago, Illinois, 60614 US

Ames Group has a huge list of luxury residential apartments which can never fail to surprise people. The company has a team of brilliant real estate professionals who are polished in their exceptional knowledge of the market and can guide one through it accordingly. People who want to sell their property or just looking to get a quote for it love to rely on Ames Group. This is because their local advisors have the best market knowledge of the areas to help them make an informed choice. Let’s visit their site and get to their operations here.

7) Home Easy

Founder – Mukund Chopra

Founding Year – 2017

Headquarter – 332 S Michigan Ave, Chicago, Illinois

Home Easy stands out by their claim of top-notch specialization and automation in what they do. For everything moving-related, right from finding a place to finding furniture, Home Easy is the go-to solution. With the integration of AI in their workflow and data analysis, the company takes care of the application process and finds its customers their perfect dream apartment. For more details on how Home Easy established itself in the market, study their working model here.

6) Obie

Founders – Aaron Letzeiser, Ryan Letzeiser

Founding Year – 2017

Headquarter – Green St Suite 1360, Chicago, IL 60607, United States

The biggest hassle faced by any renter or landlord is to get their property insured. Most people are so intimidated by the massive paperwork required that they don’t even consider it. However, to make it feasible for people, Obie is offering services of instant insurance. Their tech-driven platform delivers their customers with the best-suited low-rate insurance policies. The success of Obie in the market lies in their simplest approach to add value to their customers, about which you can learn here.

5) Avail

Founders – Laurence Jankelow, Ryan Coon

Founding Year – 2012

Headquarter – Franklin St Ste 404, Chicago, Illinois, 60610, United States

Avail is a great choice for landlords who like to manage it all on their own. Its software helps landlords find potential tenants, analyze their credit history, etc. for their ease. One is just required to create a rental listing, which is then shown on top rental listing sites. The site helps the landlords run a background check on the renters as well so they can make an informed choice before moving ahead. Let’s get to know about their offered features in detail here.

4) Domu

Founders – Noah Schatz and Lincoln Schatz

Founding Year – 2009

Headquarter – Chicago, Illinois, United States

When it comes to renting an apartment, Domu is usually the first choice which comes to mind. Their business model has simplified the whole process for both renters and landlords. The company offers a rent calculator as well so that the tenants can get an idea of how much they can afford. For landlords, it’s an all in one place for every lease form required for the process. Their straightforward user interface is a must to notice if you want to step into the real estate business. Let’s visit their site here.

3) Livly

Founders – Alex Samoylovich, Brian Duggan

Founding Year – 2017

Headquarter – Chicago, Illinois, United States

The world has become heavily tech-driven. Realizing this as an opportunity, Livly came into the market to help people run their apartment community efficiently. With everything in one app, residents can now pay their rent, book maintenance, and explore a lot more in just a matter of a few clicks. To make it more engaging for the residents, they also have their own social media platform integrated within their app. There are various such services provided by Livly which are hard to resist for any resident. You can know about it all by visiting this link here.

2) Rentgrata

Founders – Ben Margolit, Sam McArtor, Zach Sloan

Founding Year – 2016

Headquarter – Grand Avenue, Suite 707, Chicago, IL 60611

When it comes to renting, renters need a specified set of information before proceeding ahead. Of course, the leasing party will make it sound enticing for their prospective renters. Therefore, it used to become difficult for the interested party to establish trust. This is where Rentgrata comes in, which allows potential renters to be able to connect with the residents of that area. Now, renters can inquire directly from the residents about things such as the parking area, the maintenance, the neighborhood, etc. before making their decision. This has been a game changer for the real estate industry. Learn more about this here.

1) Enodo

Founder – Marc Rutzen

Founding Year – 2016

Headquarter – Chicago, Illinois, United States

When it comes to investing in real estate, most people find it intimidating. Of course, investing is a complex process. This is where Enodo comes in to simplify the colossal process of investing for their customers. The company has several unique selling points to offer to their users. One of these is letting them evaluate an asset’s performance through rental revenue and lease turnover. One can also get to know the competitiveness of properties similar to each other to quote their underwriting in a better way. You will find their working model quite interesting and alluring, which you can read about here.

Conclusion

This article discussed how the real estate industry has changed significantly in recent years. The integration of technology in real estate has been leveraged by a lot of businesses, which has resulted in providing value to the customers.

You must have noticed how the big companies in the real estate industry demarcate themselves in terms of their USPs. In order for you to find success in the field, you need to figure out how you can add value to your customers.

There are still a large number of companies that are serving their customers through their unique ideas. You can learn more about them on PropTechBuzz.