Friedman Properties

What Friedman Properties does

Friedman Properties, Ltd. is a privately held Chicago-based real estate development and property management firm operating exclusively within the Chicago metropolitan area. The company delivers an integrated service offering that spans acquisition, development, leasing, and property management across the office, retail, multifamily, hospitality, and parking asset classes. Its portfolio includes signature assets such as the 1.2 million SF, 45-story LEED Platinum certified 353 N Clark office tower (joint venture with Mesirow Financial), the 355,000 SF, 49-story LEED Gold certified AMLI River North luxury residential development with 409 units (joint venture with AMLI Residential), and the 156-room Moxy Hotel Chicago Downtown (joint venture with White Lodging under the Marriott flag).

The firm differentiates through civic-minded urban planning, historic preservation expertise, and adaptive re-use of landmark buildings including Tree Studios, Medinah Temple, and the Reid Murdoch Building, alongside sustainable LEED-certified development. Friedman holds multiple preservation awards from the City of Chicago and the Landmarks Preservation Council of Illinois, and uses these capabilities as a regulatory and reputational moat in entitlement processes.

Friedman operates as a closely held limited partnership with no institutional investors, parent company, or public listing identified. Revenue is generated through direct leasing of owned properties, in-house property management, and joint venture participation in large-scale developments. Pricing is quote-based and not publicly disclosed; lease terms are negotiated individually. The legal entity is incorporated in Illinois, USA, with headquarters at 350 N. Clark St. Suite 400, Chicago, IL 60654, and the company appears to be founder/family-controlled, with Albert M. Friedman receiving personal industry awards.

Name

Friedman Properties

Legal name

Friedman Properties, Ltd.

Website

https://friedmanproperties.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

11–50 employees

Short description

Friedman Properties, Ltd. is a privately held Chicago-based commercial real estate development and property management firm specializing in office, retail, multifamily, and hospitality properties, with deep expertise in adaptive re-use of historic landmarks and LEED-certified sustainable development.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Nonresidential Property Managers (531312), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

akta.pro secondary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

Keywords

• Commercial real estate
• Property management
• Adaptive re-use
• Historic preservation
• Urban real estate development

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain

Distribution channels3 records

Marketing channels3 records

Core offering

Friedman Properties develops, owns, leases, and manages a Chicago-focused portfolio of commercial, office, retail, residential, and hotel properties. The firm provides commercial property management, leasing, and tenant services for these assets, and specializes in adaptive re-use development that restores and converts historic and obsolete buildings for modern commercial use.

Product overview

Friedman Properties operates as a diversified real estate development and property management company with a portfolio of commercial properties across Chicago. The company offers a single integrated approach combining property management services with development expertise. The product portfolio includes: completed properties such as the Moxy Hotel (hotel), AMLI River North (luxury multi-family), and 353 N Clark (LEED Platinum office); proposed developments including The Rivere (mixed-use), 330 N Clark (office/hotel expansion), and 158 W Grand (retail); and core services focused on adaptive re-use of historic buildings. Properties span office, retail, multi-family residential, hotel, and parking asset classes.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Property Management Services Full-service commercial property management for office, retail, residential, and hotel properties owned and operated by Friedman Properties across Chicago.

Quantifiable outcome

• Multiple landmark awards including Chicago Landmark Award for Preservation Excellence, Richard Driehaus Foundation President's Award
• +3 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

Partnerships

Four partnerships are on record, tiered core.

• White LodgingcoreStrategic or Co-development PartnerJoint development partner for the Moxy Hotel Chicago Downtown project. White Lodging is a hospitality development and management company. The partnership resulted in a 156-room joint hotel development at LaSalle and Grand in Chicago.
• AMLI ResidentialcoreStrategic or Co-development PartnerJoint venture development partner for AMLI River North, a 49-story luxury residential and retail development at 71 W Hubbard. Completed in 2013, the project comprises 409 residential units and 4,486 SF of retail space.
• Mesirow FinancialcoreStrategic or Co-development PartnerJoint venture development partner for 353 N Clark, a 1.2 million SF, 45-story LEED Platinum certified office and retail development completed in 2009.
• City of ChicagocoreStrategic or Co-development PartnerPublic/private partnership for The Rivere development, a proposed 30-story building at the southwest corner of Illinois and Dearborn streets. The project will replace River North's Engine Co. 42 with a modernized firehouse and mixed-use development.

Scale indicators14 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• The John Buck Company: Major Chicago-based real estate investment and development firm with Class A office, multifamily, and mixed-use properties. Comparable to Friedman in scale, asset class mix, and Chicago-centric focus.
• JDL Development: Chicago-based real estate development firm focused on multifamily, mixed-use, and adaptive re-use projects in the city. Directly comparable to Friedman's River North and downtown development focus.
• Sterling Bay: Chicago-focused commercial real estate developer known for large-scale adaptive re-use projects (e.g., Lincoln Park, Fulton Market). Directly comparable to Friedman in Chicago-centric development with similar mixed-use, office, and life-sciences tenant focus.
• McCaffery Interests: Chicago-based real estate developer and manager with a portfolio of office, mixed-use, and retail properties. Closely comparable to Friedman in asset class mix and Chicago-centric operations.
• Shapack Partners: Chicago-focused developer with notable mixed-use and office developments (e.g., One North Halsted). Comparable to Friedman in Chicago-centric Class A office and mixed-use development.
• CA Ventures: Chicago-based real estate investment management firm specializing in multifamily, student housing, and mixed-use developments. Comparable to Friedman's residential and hospitality development arms.

Broad incumbents

• Tishman Speyer: Global real estate developer and investor with major Chicago office holdings and LEED-certified developments. Comparable to Friedman at scale in Class A office and sustainability-focused development.
• Brookfield Properties: Large global real estate operator with significant Chicago office and mixed-use portfolio. Comparable as a broad incumbent in commercial property management and Class A office leasing.
• Hines: Global real estate investment, development, and management firm with significant Chicago office and mixed-use portfolio. Comparable as a broader incumbent in Class A commercial real estate.

Regional players

• White Lodging: Hospitality development and management company partnered with Friedman on the Moxy Hotel. Directly comparable as a JV partner in Friedman's hotel development pipeline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/friedmanprop

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Friedman Properties