First Western Properties
First Western Properties is a privately held, full-service Chicago-based commercial real estate firm founded in 1999, offering investment sales, brokerage, property/asset management, development, and receivership services to investors, corporate occupiers, and property owners across the US, China, and Europe.
- Company typePrivate
- Founded1999
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What First Western Properties does
First Western Properties, Inc. is a privately held, full-service commercial real estate firm headquartered at 1205 West Adams Street in Chicago, Illinois, founded in 1999 by Paul Tsakiris. The firm operates across investment sales, landlord and tenant representation, property and asset management, development and redevelopment, valuation and advisory, and receivership / REO advisory services, serving a client base that includes domestic and international real estate investors, corporate occupiers, property owners and landlords, opportunity funds, banks, family offices, and professional athletes. It reports $250MM+ in cumulative transaction volume, 1,000+ owned multifamily units, 2MM+ square feet under management in the US and Europe, and claims operational presence across 7 countries and 4 continents.
The business is structured around an enterprise field sales model in which brokers produce investment memoranda, manage investor communications via CRM, run daily targeted email blast campaigns, and field showings. Revenue is primarily transaction-fee based (investment sales commissions, leasing commissions) with a managed-services layer (property and asset management fees for third-party owners) and a professional-services layer (development, valuation, and receivership work). Geographic reach is anchored in the Chicago metropolitan area, with regional expansion into South Florida (Miami office led by CEO Tsakiris), a Greater China presence via Tony Liu and a dedicated Chinese-language subdomain, and a European luxury home development arm operating through sister companies Paradise Construction and CostAnita Villas in Crete, Greece. The firm has no disclosed external funding, no parent company, and no technology platform beyond the proprietary 'First Western Deal Flow' CRM and marketing automation tool.
First Western Properties firmographics
Firmographics- Name
- First Western Properties
- Legal name
- First Western Properties, Inc.
- Website
- https://1stwesternproperties.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First Western Properties is a privately held, full-service Chicago-based commercial real estate firm founded in 1999, offering investment sales, brokerage, property/asset management, development, and receivership services to investors, corporate occupiers, and property owners across the US, China, and Europe.
- Ownership category
- akta.pro rank
First Western Properties industry classification
Industry- Product category
- Commercial Real Estate Services
- NAICS
- Services to Buildings and Dwellings (5617), Rental and Leasing Services (532), New Housing For-Sale Builders (236117), Lessors of Other Real Estate Property (53119)
- SIC
- Real Estate (6500), Operators Of Nonresidential Buildings (6512), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)
- akta.pro secondary industries
- Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ), Corporate & Executive Short-Term Housing Management (BPAJAIAH)
Keywords
Where First Western Properties is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
First Western Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Technology or R&D
Revenue model
- Investment Sales: Commission-based sales of income-producing properties for third-party owners and corporate occupiers. Includes acquisitions, dispositions, and equity placement.
- Brokerage Services (Landlord/Tenant Representation): Leasing commissions for tenant and landlord representation services including lease negotiations and transaction management.
- Property Management: Management fees for managing third-party assets for banks, family offices, private investors, and professional athletes. Manages over 2MM+ square feet in US and Europe.
- Asset Management: Fees for managing funds for individuals and companies, making investment decisions on behalf of clients to grow their finances and portfolio.
- Development & Redevelopment: Fees for development planning, build-to-suits, construction management, and zoning consultation services.
- Receivership & REO Advisory: Turnaround specialists providing professional management and advisory services for distressed properties.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Transaction-based commercial real estate services |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
First Western Properties product offering
Product offeringCore offering
First Western Properties is a full-service commercial real estate firm offering investment sales, landlord and tenant representation, property management, asset management, development and redevelopment, receivership/REO advisory, and valuation services. The firm serves real estate investors, corporate occupiers, and property owners across the Chicago metropolitan area with expansion into Miami, Fort Lauderdale, and Crete, Greece through sister companies.
Product overview
First Western Properties is a full-service commercial real estate firm offering a comprehensive suite of services including Investment Sales, Landlord Representation, Tenant Representation, Investor Services, Asset Management, Property Management, Receivership & REO Advisory, Development & Redevelopment, and Valuation & Advisory. The company operates as a unified service platform where these core offerings are integrated to provide clients with seamless solutions across the entire real estate investment lifecycle—from acquisition and disposition to property management and redevelopment. Services span retail, multifamily, mixed-use, and land transactions primarily in the Chicago metropolitan area, with expansion into Miami, Fort Lauderdale, and Crete, Greece.
Differentiator
Problem solved
Functional benefit
Products and services
- Investment Sales
- Landlord Representation
- Tenant Representation
- Investor Services
- Asset Management
- Property Management
- Receivership and REO Advisory
- Development and Redevelopment
- Valuation and Advisory
Quantifiable outcome
- Over 2,500 decimated apartment units acquired and rehabilitated, resulting in 6 Good Neighbor Awards
- +1 more outcomes
Companies that use First Western Properties
Customer profileNamed customers8 records
Segments6 records
Ideal customer profiles4 records
First Western Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
First Western Properties partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core and minor.
- Paradise ConstructioncoreSister company in Europe specializing in luxury home development in Crete, Greece. Award winning designs featuring Europe's top designers and architects. 17+ luxury villas in development pipeline. Local owner Kostas Krasakis brings in-depth knowledge of Cretan properties and relationships with local contractors.
- CostAnita VillascoreSister company in Europe for luxury villa sales in Crete, Greece. Award winning designs featuring Europe's top designers and architects. The special area features a unique mixture of traditional Cretan culture and cuisine paired with attractive tourist sites and activities. CEO Meike Lechat manages sales operations.
- National Association of REALTORSminorIndustry organization membership supporting professional standards in real estate
- CCIM (Certified Commercial Investment Member)minorProfessional certification organization for commercial investment real estate
- ICSC (International Council of Shopping Centers)minorGlobal trade association for the shopping center industry. Company attends ICSC Las Vegas and ICSC New York Deal Making events for networking and deal-making (booth #C188H at ICSC Las Vegas).
- Chicago Sister Cities InternationalminorChicago Sister Cities - Athens Committee - Board member Paul Tsakiris supports international business connections
- Red CrossminorCharitable organization supported by First Western Properties
- Harold E. Eisenberg FoundationminorChicago-based charitable foundation supported by First Western Properties
- Hellenic American Nursing HomeminorHealthcare organization supported by First Western Properties
- Toys-for-TotsminorCharitable program supported by First Western Properties during holidays
- Catholic Charities of ChicagominorCharitable organization supported by First Western Properties
- FeatherfistminorChicago nonprofit supported by First Western Properties
- Chicago Real Estate CouncilminorProfessional real estate industry organization in Chicago
- Midwest Real Estate Data (MRED)minorMultiple Listing Service (MLS) provider for Chicago real estate market data
- Miami Association of REALTORSminorMiami-based real estate association supporting Florida market operations
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
First Western Properties competitors and assessment
Company assessmentDirect peers
- SVN International Corporation: Global commercial real estate brokerage franchise offering investment sales, leasing, and advisory across retail, multifamily, office, and land — comparable to First Western as a full-service CRE platform serving similar mid-market investors and owners.
- Marcus & Millichap: National investment sales brokerage specializing in commercial real estate investment property sales, financing, research, and advisory — the closest direct peer to First Western's investment sales and multifamily brokerage services, operating at much greater scale across the US.
- Interra Realty: Chicago-focused multifamily investment sales brokerage actively brokering mid-market apartment buildings in Chicago neighborhoods — directly comparable to First Western's multifamily investment sales and Chicago submarket specialization.
- NAI Global: Global network of independently owned commercial real estate firms providing brokerage, property management, and advisory — comparable to First Western as a multi-service CRE platform with landlord/tenant representation and property management offerings.
- Kiser Group: Chicago-based commercial real estate brokerage focused on multifamily investment sales in the Chicago metropolitan area, including value-add and distressed transactions — directly comparable to First Western's multifamily brokerage and receivership practice.
Regional players
- Espacio Real Estate Advisors: Specialized commercial real estate advisory firm operating across Miami and Latin America serving cross-border investors — comparable to First Western's Miami office and its international investor deal flow targeting Latin American and European capital.
- Paradise Construction / CostAnita Villas: Sister companies of First Western Properties developing and selling luxury villas in Crete, Greece — directly comparable to First Western's Greek expansion via shared Tsakiris-family ownership and design partnerships with European architects.
Broad incumbents
- Cushman & Wakefield: Major global commercial real estate services firm providing investment sales, leasing, valuation, and property management across all major asset classes — a broad incumbent that competes with First Western on larger commercial mandates and capital markets transactions.
- Berkshire Hathaway HomeServices Chicago: Large national residential and commercial real estate brokerage franchise with a significant Chicago presence — overlaps with First Western's multifamily investment sales and Chicago retail/residential leasing activities.
- Colliers International: Global professional services and investment management company with full-service commercial real estate offerings including investment sales, leasing, valuation, and asset management — a broad incumbent against which First Western competes on local and regional mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Western Properties social profiles
Digital presenceFirst Western Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Western Properties leadership team
Management profileNumber of profiles
Profiles8 records
First Western Properties subsidiaries and ownership
Company hierarchySubsidiaries2 records
First Western Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Western Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Western Properties
What does First Western Properties do?
First Western Properties is a full-service commercial real estate firm offering investment sales, landlord and tenant representation, property management, asset management, development and redevelopment, receivership/REO advisory, and valuation services. The firm serves real estate investors, corporate occupiers, and property owners across the Chicago metropolitan area with expansion into Miami, Fort Lauderdale, and Crete, Greece through sister companies.
Is First Western Properties a public or private company?
First Western Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was First Western Properties founded?
First Western Properties was founded in 1999. It employs 11 to 50 people.
Where is First Western Properties based?
First Western Properties is headquartered in Chicago, United States, in the North America region.
How does First Western Properties make money?
Six revenue lines are on record. Investment Sales are the primary driver. The others are brokerage Services (Landlord/Tenant Representation), property Management, asset Management, development & Redevelopment and receivership & REO Advisory.
Who are First Western Properties's main competitors?
Direct peers on record are SVN International Corporation, Marcus & Millichap, Interra Realty, NAI Global and Kiser Group. Regional players are Espacio Real Estate Advisors and Paradise Construction / CostAnita Villas. Broad incumbents are Cushman & Wakefield, Berkshire Hathaway HomeServices Chicago and Colliers International.
Does First Western Properties have an API?
No public API is recorded for First Western Properties.
What industry is First Western Properties in?
First Western Properties's product category is Commercial Real Estate Services. Its primary akta.pro industry code is BPAJAAAE, Residential Investment Property Brokerage (SFR/Small Multifamily), with a secondary code of BPAJADAJ, Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth). Its NAICS code is 5617 and its SIC code is 6500.