Kass Management Services
Kass Management Services is a Chicago-based third-party property management and brokerage firm founded in 1985. It manages nearly 10,000 residential units across 400+ properties plus 600,000 square feet of commercial space, serving property owners, investors, and renters in the Chicagoland area.
- Company typePrivate
- Founded1985
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Kass Management Services does
Kass Management Services, Inc. is a Chicago-based, founder-owned third-party property management and brokerage firm founded in 1985 by Gary Kass. The firm provides full-service residential, commercial, and condominium property management for property owners, real estate investors, developers, condominium associations, and non-profit housing organizations across the Chicago metropolitan area, covering tenant screening, lease execution, rent collection, maintenance coordination, financial reporting, and lease administration. Kass's core offering includes Residential Property Management (properties ranging from 3 to 200+ units), Commercial Property Management for office, retail, and mixed-use properties, and Apartment Leasing/Brokerage services supported by in-house leasing agents and outside rental agencies. The product portfolio also includes Affordable Housing Management (notably for Chicago Metropolitan Housing Development Corporation's 700+ unit portfolio since 2001), Sublet/Relet services, and an Online Resident Portal (RentCafe integration) enabling digital rent payment, maintenance requests, and amenity reservations, alongside supervision of automated building control systems including HVAC, electrical, fire/life safety, and mechanical equipment.
The company's revenue model is built on two streams: third-party property management fees billed monthly to property owners (managed services model) and brokerage commissions generated from tenant placement and lease execution (transaction fee model). Pricing is quote-based and not publicly disclosed, with management fees varying by property and unit characteristics. Kass's go-to-market is sales-led and enterprise relationship-based, demonstrated by the firm's retention of Sterling Bay (16 rental communities, 302 units), Four Corners Tavern Group, Property Management Group (seven market-rate properties, 308 units), CMHDC, and various individual investors. The firm also operates an ecosystem of ancillary resident-facing partnerships with Lower Electric (energy cost reduction), LulaFit (concierge fitness), and Blue Crates (on-demand storage), plus a related general contracting entity (MDK Building Services LLC) founded in 2004.
Operationally, Kass manages nearly 10,000 residential units and 600,000 square feet of commercial space across more than 400 properties throughout Chicago neighborhoods and suburbs (Andersonville, Bucktown, Edgewater, Evanston, Gold Coast, Hyde Park, Lakeview, Lincoln Park, Logan Square, Ravenswood, Rogers Park, Oak Park, and others). The company is privately held and remains under the leadership of Gary Kass (President, Principal) and Mark Durakovic (Principal, Vice President, Partner since 2009), with no institutional venture or private equity investment. Headcount sits in the 11-50 range with a single headquarters at 2000 N. Racine, Suite 4400, Chicago, IL. Kass Management Services, Inc. is incorporated in Illinois, USA.
Kass Management Services firmographics
Firmographics- Name
- Kass Management Services
- Legal name
- Kass Management Services, Inc.
- Website
- https://kassmanagement.com
- Company type
- Private
- Founded year
- 1985
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Kass Management Services is a Chicago-based third-party property management and brokerage firm founded in 1985. It manages nearly 10,000 residential units across 400+ properties plus 600,000 square feet of commercial space, serving property owners, investors, and renters in the Chicagoland area.
- Ownership category
- akta.pro rank
Kass Management Services industry classification
Industry- Product category
- Property Management Services
- NAICS
- Residential Property Managers (531311), Nonresidential Property Managers (531312), Offices of Real Estate Agents and Brokers (5312)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Residential Lease Administration & Tenant Services (BPAJAFAL)
- akta.pro secondary industries
- Homeowners Association (HOA) Management (BPAJAHAB), Townhome & PUD Association Management (BPAJAHAE)
Keywords
Where Kass Management Services is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Kass Management Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Third-Party Property Management Fees: Kass Management Services earns revenue as a third-party property management firm managing residential and commercial properties for property owners, charging management fees for services including tenant relations, maintenance, rent collection, financial reporting, and property operations
- Brokerage Commissions: The firm also operates as a brokerage, generating revenue from leasing agent activities including tenant placement and lease execution for residential and commercial properties
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Property Management Services |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Kass Management Services product offering
Product offeringCore offering
Kass Management Services provides third-party property management and brokerage for residential rental, commercial, condominium, and affordable housing properties throughout the Chicago metropolitan area. Services cover the full lifecycle from tenant screening, lease execution, rent collection, and maintenance coordination to financial reporting, contract negotiation, and supervision of building control systems for property owners and real estate investors.
Product overview
Kass Management Services is a third-party property management and brokerage firm offering a comprehensive suite of property management services. The company operates a multi-product portfolio comprising Residential Property Management (covering properties from 3 to over 200 units), Commercial Property Management (office, retail, and mixed-use), and Apartment Leasing/Brokerage services. These core offerings are supported by an Online Resident Portal enabling rent payments and maintenance requests, plus Sublet/Relet Services and Affordable Housing Management modules. The firm manages a portfolio of over 9,000 residential units and 600,000 square feet of commercial space throughout the Chicago Metropolitan Area, including more than 400 properties.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Property Management Full-service residential rental property management covering properties from 3 units to over 200 units, including tenant screening, lease execution, maintenance operations, rent collection, and financial reporting for property owners and real estate investors in the Chicago metropolitan area.
- Commercial Property Management
Quantifiable outcome
- Seven agents recognized as 2016 Top Rental Agents by Chicago Association of REALTORS, including Platinum Award winner for 245+ units rented
- +2 more outcomes
Companies that use Kass Management Services
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Kass Management Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature3 records
Kass Management Services partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- CMHDC (Non-profit housing development)coreKass Principal Mark Durakovic and Kass Real Estate Agent Andrew Gruesser represented the seller CMHDC in the $2.4M sale of an affordable housing building in Rogers Park. CMHDC is a non-profit housing development corporation serving the Chicago metropolitan area.
- Chicago Metropolitan Housing Development Corporation (CMHDC)coreCMHDC created Chicago Metropolitan Construction (CMC). Kass has a long-standing relationship with CMHDC, managing their affordable rental portfolio of over 700 units since 2001.
- Lower Electric, LLCcoreUtility broker partnership helping Kass Management clients reduce energy costs. Lower Electric analyzes electric and gas bills, obtains competitive bids, and helps building owners and renters explore potential savings in the deregulated Illinois energy market. Due to Kass's large property portfolio, Lower Electric has negotiated master agreements allowing Kass clients to join at preferred pricing.
- LulaFitminorConcierge fitness service partnership providing residents with holistic wellness experience. LulaFit can turn any indoor or outdoor area into a space for health and wellness through on-site fitness classes, personal training, massage therapy, nutritional coaching, and instructional cooking. Kass has hosted events like 'Yoga and Wine Nights' through this partnership.
- Blue CratesminorOn-demand storage service partnership delivering crates or wardrobes to residents' front doors. Allows residents to store and retrieve items via smartphone, declutter apartments, and free up closet space for less than $10/month in most cases.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Kass Management Services competitors and assessment
Company assessmentDirect peers
- CA Residential (CA Ventures): Chicago-headquartered multifamily owner/operator with a property management arm serving institutional owners in Chicago and nationally. Comparable in residential third-party management focus and Chicago market density, though at a larger institutional scale.
- The Habitat Company: Chicago-based residential property manager with a comparable multifamily portfolio in the Chicago metro area. Directly competes for the same property owner and investor clients as Kass, with a similar mix of third-party management, leasing, and condominium services.
- TLC Management Company: Chicago-area property management company providing residential and condominium management services. Overlaps directly with Kass's core residential and HOA/condominium management offerings within the same metropolitan market.
- Peak Properties: Chicago-focused residential property management firm managing apartment buildings and condominiums in the same neighborhoods Kass serves. Closely comparable on target customers (small-to-mid ownership), service scope, and geographic footprint.
- Magellan Property Management: Regional property management firm serving Chicago and Midwest markets with residential and condominium management. Directly competes for the same owner/investor customer base with overlapping service offerings.
- Draper and Kramer: Established Chicago real estate services firm providing residential and commercial property management across the metro area. Directly comparable in scale, geography, and full-service offering, including leasing brokerage and condominium management.
Broad incumbents
- Greystar Real Estate Partners: Largest U.S. residential property manager with a significant Chicago presence. Competes for institutional owner mandates (Sterling Bay, PMG, Four Corners scale), but with vastly broader geographic reach and technology investment capacity.
- Lincoln Property Company: National multifamily property manager and developer with established Chicago operations. Competes for the same institutional and large private owner client base as Kass, but offers greater scale, technology, and ancillary services.
- @properties (Christie's International Real Estate): Large Chicago-based real estate brokerage and management firm with a property management arm. Comparable on leasing/brokerage services and Chicago geographic focus, but operates at much larger scale and broader scope than Kass.
Emerging players
- Reside Living: Chicago-based residential property management firm focused on smaller and mid-size apartment buildings. Comparable customer segment (small-to-mid landlords) and geographic footprint, though newer and at smaller portfolio scale than Kass.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Kass Management Services social profiles
Digital presenceKass Management Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kass Management Services leadership team
Management profileNumber of profiles
Profiles2 records
Kass Management Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kass Management Services 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 Kass Management Services
What does Kass Management Services do?
Kass Management Services provides third-party property management and brokerage for residential rental, commercial, condominium, and affordable housing properties throughout the Chicago metropolitan area. Services cover the full lifecycle from tenant screening, lease execution, rent collection, and maintenance coordination to financial reporting, contract negotiation, and supervision of building control systems for property owners and real estate investors.
Is Kass Management Services a public or private company?
Kass Management Services is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Kass Management Services founded?
Kass Management Services was founded in 1985. It employs 11 to 50 people.
Where is Kass Management Services based?
Kass Management Services is headquartered in Chicago, United States, in the North America region.
How does Kass Management Services make money?
Two revenue lines are on record. Third-Party Property Management Fees are the primary driver. The others are brokerage Commissions.
Who are Kass Management Services's main competitors?
Direct peers on record are CA Residential (CA Ventures), The Habitat Company, TLC Management Company, Peak Properties, Magellan Property Management and Draper and Kramer. Broad incumbents are Greystar Real Estate Partners, Lincoln Property Company and @properties (Christie's International Real Estate). Reside Living is listed as an emerging player.
Does Kass Management Services have an API?
No public API is recorded for Kass Management Services.
What industry is Kass Management Services in?
Kass Management Services's product category is Property Management Services. Its primary akta.pro industry code is BPAJAFAL, Residential Lease Administration & Tenant Services, with a secondary code of BPAJAHAB, Homeowners Association (HOA) Management. Its NAICS code is 531311 and its SIC code is 6531.