Property management prof services – river walk

The City of Joliet, Illinois is requesting proposals for interim property management services at River Walk Homes, a 356-unit affordable multifamily residential community located at 350 North Broadway Street, with proposals due September 21, 2026 at 12 p.m. through the Euna Procurement (Bonfire) platform and an anticipated contract start of October 1, 2026.

Proposers must meet minimum qualifications: at least five years of successful multifamily property management experience with substantial affordable housing expertise, demonstrated experience managing project-based Section 8 properties and HUD HAP contracts, capacity to manage a 356-unit property, ability to mobilize by October 1, 2026, qualified on-site management and adequate staffing, appropriate Illinois licensing and insurance, and no unresolved debarment or material conflicts. The property comprises seven residential structures and a community center with 356 units under two HUD HAP contracts (IL06E000139 covering 241 units and IL06E000140 covering 115 units). The incumbent contractor is Holsten Management Corporation, whose management arrangement expires September 30, 2026.

Scope encompasses tenant and lease administration, Section 8 and HUD HAP contract administration, rent collection and financial management, maintenance and emergency response, staffing and human resources, legal and regulatory compliance, and coordination with the Owner regarding anticipated redevelopment planning. The selected firm must mobilize and assume day-to-day management responsibilities immediately upon contract execution.

No management fee has been predetermined. Proposers must submit complete fee proposals clearly stating all assumptions, exclusions, and pass-through costs, with components including base property management fees, initial transition and mobilization costs, personnel costs, after-hours emergency coverage, unit-turn or maintenance markups, legal and eviction administration fees, and other reimbursable expenses. The Owner reserves the right to negotiate fees and contract terms with the highest-ranked proposer. The initial contract term is one year with renewal options subject to Owner approval. Qualified firms will be invited to interviews to discuss transition planning, staffing, Section 8 expertise, financial controls, and proposed fees, with property walk-throughs limited to finalists.