Value Add Apartment Unit Renovations
3F specializes in high volume multifamily apartment unit renovations for institutional owners and other general contractors. With a background in scattered site, single family home renovations at scale, 3F has perfected production renovation techniques. From overseas material procurement to sourcing skilled labor directly, we focus on reducing costs at all levels. 3F can renovate 50 units or more a month in a single property.
We help clients achieve their targeted return on investment (ROI) goals by evaluating the rent benefit of various renovation options and customizing a scope of work that maximizes ROI. 3F’s team is lead by real estate developers who understand the value proposition of a renovation project. We leverage that experience to help developers chose an accretive renovation scope of work.
3F also works directly for other general contractors, such as Cubed Construction and Summit Design Build. Under this scenario, 3F works as a subcontractor to provide turn-key unit renovation services. We are able to renovate more units a month at a lower price than could be realized by hiring one sub per trade. This also allows the prime general contractor to coordinate with one subcontractor (3F) which frees up time to manage other activities on the project.
Approach to Renovations
Since 2009, 3F has renovated thousands of multifamily units. With the capacity to handle projects of any scale and type, our experienced team continues to grow and is committed to being the best partnership choice for programmatic multifamily renovations in the Chicagoland area.
3F uses production home building techniques to keep costs down, starting with direct material procurement. We have built a network of material suppliers and distributors who sell directly to 3F. From drywall to kitchen cabinets to countertops to plumbing fixtures, we source from China or local manufacturers to eliminate the multiple levels of markup. In addition, we use the latest web-based construction management tools, such as Procore, to track and manage projects. Clients can expect a high level of reporting and disclosure during the entire project.