What Mavrek Development does

Mavrek Development is a Chicago-based, vertically integrated real estate developer and general contractor that executes commercial, multifamily, mixed-use, and adaptive-reuse projects from land acquisition through stabilization. Founded in 2010 as a boutique single-family home builder, the firm has grown into a full-service developer with more than $1.45 billion and 2,000+ units of cumulative mixed-use development experience across Chicago, Cleveland, and New Albany, Ohio. Its portfolio spans ground-up Class A multifamily (e.g., The Saint Grand at 248 units, 1000 Jackson at 380 units, Treo at 171 units), office-to-residential adaptive reuse (Wacker Place, 252 units including 51 affordable), self-storage (Walnut Street Storage, 524 units), boutique condominiums, and single-family homes. The company operates with a small core team of 10 employees and leans on a network of channel partners (Cross Street, CubeSmart, RHM Real Estate Group, Canvas Real Estate) for property management, leasing, and retail tenanting.

The business model combines three revenue streams: one-time development gains on the sale or refinancing of completed assets (e.g., the $21 million Portrait sale to the Giannis Antetokounmpo family office, the $106.3 million Saint Grand refinance), property management and stabilized-asset operations run through an in-house platform, and general contractor services executed either on Mavrek-owned projects or, selectively, with external partners such as McHugh Construction. Capital is sourced through a mix of senior construction debt (Canyon Partners, Derby Lane Partners, Hoyne Savings Bank, ACRES Capital), historic and affordable housing tax credit equity (PNC Bank), and equity placements to accredited investors via a dedicated investor portal. Customers include institutional real estate investors and family offices acquiring completed developments, individual condominium and single-family home buyers, and renters of stabilized multifamily and mixed-use assets managed through partner property managers.

Name

Mavrek Development

Legal name

Mavrek, Inc.

Website

https://mavrekdevelopment.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Mavrek Development is a Chicago-based, vertically integrated real estate developer and general contractor that builds commercial, multifamily, mixed-use, and adaptive-reuse projects, serving institutional investors, family offices, accredited investors, and individual buyers across Chicago and Ohio.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (2372), New Single-Family Housing Construction (except For-Sale Builders) (236115)

SIC

Operative Builders (1531), Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industries

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL), Residential Affordable Housing Development & Construction (IMAFABAI)

Keywords

• Real estate development
• General contracting
• Mixed-use development
• Multifamily housing
• Adaptive reuse

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Development and Property Sales: Mavrek develops properties from land acquisition through stabilization and sells completed developments to investors or end-users. Examples include selling Portrait ($21M sale to Ante/NBA star Giannis Antetokounmpo's family office) and ongoing development projects.
2. Property Management: Internal property management platform oversees portfolio operations across residential and mixed-use assets. The company manages properties like Portrait (leasing through Cross Street) and Walnut Street Storage (CubeSmart as third-party property manager).
3. General Contractor Services: Full-service developer and general contractor firm that builds projects in-house, providing construction services for their own developments and potentially for external clients.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Mavrek Development is a full-service real estate developer and general contractor that executes projects from land acquisition through stabilization. The firm develops multifamily residential buildings, mixed-use properties, adaptive reuse conversions, luxury condominiums, single-family homes, and a self-storage facility primarily in Chicago, IL with expansion into Ohio markets. It operates as both developer and builder with a builder-owner mindset, also providing in-house property management services and accepting accredited investor capital through an investor portal.

Product overview

Mavrek Development is a full-service real estate developer and general contractor offering vertically integrated development services from land acquisition to stabilization. The company operates a diversified portfolio of residential and mixed-use developments across Chicago, IL and expanding into Ohio, ranging from single-family homes and luxury condominiums to large-scale multifamily and adaptive reuse projects. Key products include The Saint Grand (248-unit mixed-use in Streeterville), 1000 Jackson (380-unit mixed-use in West Loop), Wacker Place (252-unit office-to-residential conversion), and Treo (171-unit multifamily in Cleveland). The company also develops single-family homes, condominiums, and commercial properties, managing the full development lifecycle as both developer and builder.

Differentiator

Problem solved

Functional benefit

Products and services

• The Saint Grand

Quantifiable outcome

• Over $1.45B in mixed-use development experience
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• McHugh ConstructioncoreStrategic or Co-development PartnerChicago-based McHugh Construction is handling the office-to-residential conversion construction at Wacker Place, a 25-story, 248,000-square-foot art deco tower.
• Cross StreetsupportingChannel Partner/ Reseller/ DistributorCross Street serves as the property management and leasing company for Portrait development in Chicago's Uptown neighborhood.
• CubeSmartsupportingChannel Partner/ Reseller/ DistributorCubeSmart is the property manager for Walnut Street Storage, a 524-unit self-storage facility in New Albany, OH.
• RHM Real Estate GroupsupportingChannel Partner/ Reseller/ DistributorRHM Real Estate Group handles leasing for the Treo development in Cleveland, Ohio (171 residential units).
• Canvas Real EstatesupportingChannel Partner/ Reseller/ DistributorCanvas Real Estate handles retail leasing for Webster + Bissell mixed-use development in Lincoln Park.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• The Related Group: One of the largest US multifamily and condominium developers. Comparable in residential condominium and rental product mix, but operates at significantly greater scale across multiple US markets.

Direct peers

• Sterling Bay: Chicago-based commercial and large residential developer. Highly comparable — Anthony Hrusovsky led over $1B in ground-up development at Sterling Bay before joining Mavrek, and VP of Construction Brian Bezanis was VP of Development Services there.
• CA Ventures: Chicago-based vertically integrated real estate investment and development firm focused on multifamily, student housing, and mixed-use. Directly comparable in scale, geography, and product mix; Head of Property Management Taylor DeVos previously served as Director of Operations at CA Ventures.
• JDL Development: Chicago-based multifamily and mixed-use developer with a similar project profile of urban mid-rise and adaptive reuse projects in Chicago neighborhoods. Comparable developer size and product.
• Latsko Development + Management: Chicago-based developer of mixed-use and multifamily urban infill projects in Lincoln Park, Lakeview, and West Loop. Closely comparable in Chicago neighborhood focus, project size, and boutique developer positioning.
• Structured Development: Chicago-based real estate developer specializing in urban infill multifamily and mixed-use. Closely comparable mid-market Chicago developer focused on neighborhood-scale mixed-use product.
• Pulse Capital Group: Mid-market multifamily developer operating in the Midwest. Comparable in product type (urban Class A multifamily) and scale for Boston and Midwest markets.

Emerging players

• Brinshore Development: Chicago-based affordable and mixed-income housing developer. Comparable for the affordable housing and LIHTC-driven portion of Mavrek's pipeline (e.g., Wacker Place's 51 affordable units) and Chicago geography.
• McHugh Construction: Chicago-based general contractor and construction manager serving as Mavrek's partner on the Wacker Place office-to-residential conversion. Comparable in Chicago construction delivery for large multifamily and adaptive reuse projects.

Regional players

• The NRP Group: Cleveland-headquartered multifamily developer. Directly comparable for Mavrek's Treo development in Cleveland and signals regional peer overlap as Mavrek expands into Ohio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mavrek-development
• Xx.com/mavrekdvlpmnt

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mavrek Development