Oak Park Residence Corporation

What Oak Park Residence Corporation does

Oak Park Residence Corporation (OPRC) is a non-profit community development corporation founded in 1966 in the Village of Oak Park, Illinois. It owns and operates 32 multi-family buildings containing nearly 700 rental units (studios through 3BR), serving households across the income spectrum — from market-rate renters to federally subsidized tenants through a partnership with the Oak Park Housing Authority that provides housing for low-income seniors and individuals with disabilities in three dedicated buildings. The organization is governed by a volunteer Board of Oak Park residents and led by President & CEO David Pope with a staff of approximately 35.

OPRC's core product is its physical housing portfolio, with The Pierce at 7 Van Buren — a 44-unit net-zero multifamily building completed in March 2025 and recognized with the Phius Source Zero Award and the Chicagoland Apartment Association CAMME Award for Innovative Building Design — serving as its flagship sustainable-construction showcase and a stated template for replication across Illinois and the Midwest. The digital layer is conventional property management technology: a BetterNOI-powered online resident portal for rent payment, lease renewal, and maintenance work orders; electronic lease signing; mobile-phone-operated laundry systems; and building-specific online rental applications.

The business model is recurring monthly residential rental income at market rates (~$1,410–$1,430/month listed for 1BR units, with short-term lease premiums of $50–$100/month), supplemented by one-time application fees ($40), hold fees ($200), and pet fees ($100), plus federal rent subsidy passthroughs. Go-to-market is sales-led and direct-to-consumer: prospective tenants search available units on the website, view in person or virtually, apply through building-specific links (3–5 business day processing), and are guided by a leasing team via phone (877-580-8344) and email. There is no external fundraising disclosure, no parent company, and revenue figures are not publicly reported, consistent with 501(c)(3) non-profit status.

Name

Oak Park Residence Corporation

Legal name

Oak Park Residence Corporation

Website

https://oakparkrc.com

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

11–50 employees

Short description

Oak Park Residence Corporation is a non-profit community development corporation founded in 1966 that owns and operates 32 multi-family buildings with nearly 700 rental units in Oak Park, Illinois, serving households across all income levels including federally subsidized senior and disabled housing.

Ownership category

akta.pro rank

Product category

Affordable Multi-Family Rental Housing

NAICS

Residential Property Managers (531311), Other Residential Care Facilities (623990)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Senior & Assisted Living Residential Property Management (BPAJAFAE)

akta.pro secondary industry

Senior Living Property Management (BPAJAGAI)

Keywords

• Affordable housing
• Multi-family rentals
• Property management
• Net-zero housing
• Senior housing

Headquarters

HQ city

Oak Park

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Residential Rental Income: Monthly rental payments from residential apartments. Rent is due on the first of each month. Short-term leases available with premium pricing. Long-term standard leases at market rates. Approximately 700 units across 32 buildings generating recurring monthly revenue.
2. Application and Processing Fees: One-time application fee of $40 per applicant over age 18. Additional $200 hold fee to take unit off market during screening, applied to first month's rent if accepted or refunded if denied.
3. Pet Fees: One-time pet fee of $100 for up to 2 dogs and/or 2 cats per unit. Dogs have 60 lb weight restriction and breed restrictions apply.
4. Subsidy Revenue: Federal rent subsidies through partnership with Oak Park Housing Authority for low-income seniors and individuals with disabilities in three buildings.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Oak Park Residence Corporation (OPRC) owns and manages 32 multi-family buildings with nearly 700 rental units throughout the Village of Oak Park, Illinois. It provides market-rate and subsidized rental housing, including studio through 3BR apartments, with property management services such as 24-hour maintenance and an online resident portal. Its portfolio includes affordable housing programs for low-income seniors and individuals with disabilities through a partnership with the Oak Park Housing Authority, as well as the flagship 44-unit net-zero energy development, The Pierce at 7 Van Buren.

Product overview

Oak Park Residence Corporation (OPRC) is a non-profit community development corporation offering multi-family rental housing throughout Oak Park, Illinois. The core portfolio includes 32 multi-family buildings with nearly 700 rental units (studios through 3BRs), complemented by The Pierce at 7 Van Buren, a flagship 44-unit net-zero energy development. OPRC provides property management services including 24-hour maintenance and an online resident portal, while also operating affordable housing programs for seniors and individuals with disabilities, and a resident scholarship program for high school graduates.

Differentiator

Problem solved

Functional benefit

Products and services

• Multi-Family Rental Housing Portfolio Portfolio of 32 multi-family buildings with nearly 700 rental units (studios through 3BR apartments) throughout the Village of Oak Park, Illinois, offered at market-rate rents to general residential tenants.
• The Pierce at 7 Van Buren A 44-unit net-zero multifamily housing development generating more energy than consumed by both building and resident uses combined. Mixed-income building with 20% of units reserved for individuals earning at or below 50% AMI; remaining 80% at prevailing market rates. Features Passive House standards and transit-oriented location near CTA Blue Line and Oak Park Arts District.
• Affordable Housing Programs Federally subsidized rental housing for low-income seniors and individuals with disabilities across three OPRC buildings, operated in partnership with the Oak Park Housing Authority. Includes an award-winning facility for senior residents and a building specially designed for mobility-impaired individuals.
• Property Management Services In-house property management services including licensed dedicated property managers, 24-hour emergency maintenance, electronic lease signing, an online resident portal for rent payment and maintenance requests, mobile-operated laundry, and pet-friendly policies.
• Resident Scholarship Program Annual scholarship program awarding up to two $2,000 scholarships (renewable for up to three additional years, potential total $8,000) for OPRC resident high school graduates continuing their education.

Quantifiable outcome

• Zero net-energy building that generates more energy than consumed by both building and resident uses combined
• +2 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Village of Oak ParkcoreStrategic or Co-development PartnerVillage of Oak Park partners with OPRC on housing issues and development projects. The Village Board approved the Project Plan for The Pierce at 7 Van Buren on January 18, 2022. OPRC is committed to maintaining and improving diversity throughout Oak Park by creating housing opportunities for people of all backgrounds.
• Oak Park Housing AuthoritycoreStrategic or Co-development PartnerThrough partnership with the Oak Park Housing Authority, OPRC provides housing for low-income seniors and individuals with disabilities in three buildings that receive federal rent subsidies. This includes an award-winning housing facility for senior residents and a building specially designed for mobility-impaired individuals.
• Oak Park TownshipminorStrategic or Co-development PartnerOak Park Township partners with OPRC in addressing housing issues in the community as part of their collaborative approach to supporting residents.
• Oak Park Regional Housing CenterminorStrategic or Co-development PartnerThe Oak Park Regional Housing Center collaborates with OPRC on housing issues and outreach efforts to maintain and improve diversity throughout Oak Park.
• Housing ForwardminorStrategic or Co-development PartnerHousing Forward partners with OPRC in addressing housing issues in Oak Park as part of their mission to prevent homelessness and promote housing stability.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mercy Housing: Large national non-profit developer, owner, and manager of affordable multifamily housing. Comparable to OPRC as a mission-driven nonprofit operating mixed-income rental portfolios with public and philanthropic funding.
• BRIDGE Housing Corporation: Non-profit developer and owner of affordable and mixed-income rental housing in California with a similar mission of providing quality housing across income levels through acquisition and new development.
• Preservation of Affordable Housing (POAH): Non-profit focused on preserving and operating affordable rental housing across the U.S., directly comparable to OPRC's multi-decade model of acquiring, rehabilitating, and managing rental housing for long-term affordability.
• NHP Foundation: Non-profit affordable housing owner and operator focused on senior and workforce rental housing, closely matching OPRC's mix of general rental and senior subsidized units.
• The John Stewart Company: Non-profit-affiliated property manager specializing in affordable and supportive multifamily housing, directly comparable to OPRC's property management and resident services for subsidized populations.
• Volunteers of America National Services: Non-profit organization providing affordable and supportive housing for seniors, veterans, and low-income households, mirroring OPRC's mission-driven affordable and senior rental model.
• The Community Builders: National non-profit developer and manager of affordable and mixed-income housing with an explicit mission of building diverse communities, closely aligned with OPRC's stated diversity-and-inclusion mission.

Broad incumbents

• WinnCompanies: Large for-profit multifamily developer and manager with a substantial affordable housing division, broader in scale and geographic reach than OPRC but operating in the same affordable rental housing category.
• The Michaels Organization: National for-profit developer, owner, and manager of affordable, workforce, and student housing, broader in scope but overlapping with OPRC's core affordable rental housing activity.
• Conifer Realty: Mid-size multifamily owner/developer with significant affordable housing portfolio, comparable to OPRC at the property management and affordable unit level though operated as a private for-profit.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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 Oak Park Residence Corporation