Base 3 Development
- Company typePrivate
- Founded2020
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Base 3 Development does
Base 3 Development is a Chicago-based, vertically integrated real estate operating company that acquires, develops, repositions, and manages multifamily and mixed-use properties. Founded in 2020 and headquartered at 2050 W Irving Park Rd., the firm operates through three integrated lines: real estate development (entitlements, ground-up construction, and adaptive reuse of underperforming buildings), general contracting and construction management delivered through wholly-owned subsidiary Base 3 Construction Inc., and a proprietary property management and leasing platform that handles operations and tenant placement internally. The company owns and manages 740+ multifamily units, has completed or is developing more than 1,000 residential units, and has executed over $300 million in cumulative real estate transactions across 40+ projects in Chicago neighborhoods such as Lakeview, Lincoln Park, Edgewater, and Uptown.
The business model combines one-time development and construction fees with recurring rental income and property management revenue. Pricing is quote-based and varies by project scope; no public pricing is disclosed. Go-to-market is sales-led, targeting real estate developers, property owners and landlords (primary), architects and engineers, and business owners (secondary), supported by a website portfolio showcase and free consultation requests. The company employs 125+ professionals across real estate, construction, property management, and the co-founded international staffing subsidiary Staffolio, which provides offshore talent solutions to U.S. businesses.
Customer-facing infrastructure (resident and investor portals) is operated through AppFolio third-party software rather than an in-house-built platform. Leadership is concentrated in founder and CEO Gabe Horstick and Managing Principal and Head of Acquisitions Alec Greenberg, both licensed Illinois real estate brokers and University of Wisconsin-Madison alumni (real estate and finance). The firm is privately held with no identified institutional or venture capital ownership, and operates exclusively within the Chicago metropolitan area with no disclosed geographic expansion plans.
Base 3 Development firmographics
Firmographics- Name
- Base 3 Development
- Legal name
- Base 3 Development
- Website
- https://base3co.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Base 3 Development industry classification
Industry- Product category
- Real Estate Development
- NAICS
- New Multifamily Housing Construction (except For-Sale Builders) (236116), Nonresidential Building Construction (2362), Land Subdivision (2372)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Base 3 Development is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Base 3 Development business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D
Revenue model
- Real Estate Development: Acquisition, development, and repositioning of multifamily and commercial properties across Chicago. The company creates value through entitlements, architectural design, and construction management.
- General Contracting & Construction: Comprehensive general contracting and construction management services for multifamily, commercial, and mixed-use projects. Services include new construction, renovations, tenant build-outs, and structural modifications.
- Property Management & Leasing: Proprietary property management and leasing platform handling operations and tenant placement internally for the company's owned portfolio of 740+ multifamily units.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Base 3 Development product offering
Product offeringCore offering
Base 3 Development is a vertically integrated Chicago-based real estate company that acquires, develops, and repositions multifamily and mixed-use properties. The firm delivers end-to-end services spanning entitlements and design, ground-up construction and adaptive reuse through its subsidiary Base 3 Construction Inc., project management, and ongoing property management and leasing for its owned 740+ unit portfolio.
Product overview
Base 3 Development is a vertically integrated real estate company offering a unified suite of services across the property lifecycle: Development (acquisition, zoning, design, and ground-up construction of multifamily and mixed-use properties), Rehab & Adaptive Reuse (renovation and repositioning of existing structures), Project Management (end-to-end construction oversight), and Base 3 Construction (in-house general contracting). Through Base 3 Construction Inc., the company maintains direct control over development and renovation, and its proprietary property management and leasing platform handles operations and tenant placement internally. This end-to-end model—spanning from acquisition through construction to management and leasing—enables the firm to deliver design quality, cost discipline, and resident experience across its portfolio of residential and mixed-use properties in Chicago.
Differentiator
Problem solved
Functional benefit
Products and services
- Development
- Rehab & Adaptive Reuse Service identifying and rectifying underperforming existing structures through full gut renovations, creative improvement processes, and conversions of historic or industrial buildings. Targeted at property owners and developers seeking to reposition existing assets to their best use.
- Project Management End-to-end construction and design project management applying decades of experience to deliver on-time and on-budget outcomes. Targeted at developers and property owners executing complex builds.
- Base 3 Construction - General Contracting & Construction Management Comprehensive in-house general contracting and construction management services including new construction, high-end renovations, structural modifications, tenant build-outs, and permit compliance assistance. Delivered through subsidiary Base 3 Construction Inc. for multifamily, commercial, and mixed-use projects in Chicago.
- Property Management & Leasing Proprietary property management and leasing platform that handles operations and tenant placement internally for Base 3's owned 740+ multifamily unit portfolio. Targeted at owners and residents of Base 3's Chicago multifamily communities.
Quantifiable outcome
- 740+ multifamily units owned and managed
- +3 more outcomes
Companies that use Base 3 Development
Customer profileSegments4 records
Ideal customer profiles4 records
Base 3 Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Base 3 Development partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights4 records
Base 3 Development competitors and assessment
Company assessmentDirect peers
- Magellan Development Group: Chicago-based real estate developer of large-scale residential, mixed-use, and master-planned communities; comparable in target market, product mix, and integrated development approach to Base 3.
- Cedar Street Companies: Chicago-focused multifamily developer and operator with a vertically integrated model spanning acquisition, development, and property management; closely comparable in size, structure, and Chicago focus.
- The John Buck Company: Chicago-based real estate development and investment firm active in multifamily, mixed-use, and office developments; comparable in urban Chicago product mix and integrated development capabilities.
- Brinshore Development: Chicago- and nationwide multifamily developer specializing in affordable, mixed-income, and market-rate housing with integrated development and property management; overlaps with Base 3 in multifamily urban development and management.
- Skender: Chicago-headquartered general contractor and construction manager serving multifamily, commercial, and mixed-use projects; directly comparable to Base 3 Construction Inc. in scope and Chicago delivery.
- Akara Partners: Chicago-based real estate investment and development firm focused on multifamily and mixed-use properties, including adaptive reuse and repositioning; directly comparable in geography, product type, and value-add strategy.
- Holsten Real Estate Development: Chicago-based developer of mixed-income, multifamily, and mixed-use properties with a focus on urban neighborhoods and community-oriented design — directly comparable geography, product type, and development philosophy.
- CA Ventures: Chicago-based real estate investment and development firm focused on multifamily, student housing, and mixed-use properties with vertically integrated development, construction, and management capabilities — directly comparable in model, geography, and product type to Base 3.
Broad incumbents
- Trammell Crow Residential: National multifamily developer and operator delivering large-scale rental housing communities with integrated development and investment capabilities; broader incumbent comparable in product category and integrated model.
- LMC, A Lennar Company: Large national multifamily developer, investor, and operator offering development, construction, and property management services across a broad portfolio; overlaps with Base 3 across multifamily development and integrated management but at significantly greater scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Base 3 Development social profiles
Digital presenceBase 3 Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
Base 3 Development leadership team
Management profileNumber of profiles
Profiles2 records
Base 3 Development subsidiaries and ownership
Company hierarchySubsidiaries2 records
Base 3 Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Base 3 Development 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 Base 3 Development
What does Base 3 Development do?
Base 3 Development is a vertically integrated Chicago-based real estate company that acquires, develops, and repositions multifamily and mixed-use properties. The firm delivers end-to-end services spanning entitlements and design, ground-up construction and adaptive reuse through its subsidiary Base 3 Construction Inc., project management, and ongoing property management and leasing for its owned 740+ unit portfolio.
Is Base 3 Development a public or private company?
Base 3 Development is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Base 3 Development founded?
Base 3 Development was founded in 2020. It employs 1 to 10 people.
Where is Base 3 Development based?
Base 3 Development is headquartered in Chicago, United States, in the North America region.
How does Base 3 Development make money?
Three revenue lines are on record. Real Estate Development is the primary driver. The others are general Contracting & Construction and property Management & Leasing.
Who are Base 3 Development's main competitors?
Direct peers on record are Magellan Development Group, Cedar Street Companies, The John Buck Company, Brinshore Development, Skender, Akara Partners, Holsten Real Estate Development and CA Ventures. Broad incumbents are Trammell Crow Residential and LMC, A Lennar Company.
Does Base 3 Development have an API?
No public API is recorded for Base 3 Development.
What industry is Base 3 Development in?
Base 3 Development's product category is Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities). Its NAICS code is 236116 and its SIC code is 6552.