Wirtz Realty Corporation, a subsidiary of Wirtz Corporation, has been a prominent player in the Chicago real estate market for over 80 years. Specializing in both residential and commercial property ownership and management, the company is renowned for its commitment to providing high-quality living spaces in desirable locations.
Company Overview
- Headquarters: 680 N. Lake Shore Drive, Suite 1900, Chicago, IL 60611
- Contact: (312) 943-7000
- Website: wirtzrealty.com
- Employee Count: Approximately 31 employees
- Estimated Annual Revenue: $3.7 million
Wirtz Realty's portfolio includes a range of properties, from elegant residences with historic architectural features to modern studios, catering to diverse lifestyle needs. Their properties are strategically located along Chicago's lakefront, the northeast side, and in suburban neighborhoods like Evanston.
Recent Developments
In May 2024, Wirtz Realty announced the opening of a 605,000-square-foot multi-use facility in Cicero, Illinois. This state-of-the-art center includes corporate offices, conference rooms, training facilities, and a vast warehouse space capable of holding 2.5 million cases of wine and spirits. The facility serves as the central headquarters for Wirtz Beverage Illinois, consolidating operations and enhancing efficiency.
Additionally, in August 2024, the company facilitated the expansion of Pres-On, an industrial foam tape and gasket manufacturer. Wirtz Realty coordinated the acquisition of a 101,463-square-foot industrial building in Bolingbrook, Illinois, allowing Pres-On to consolidate its operations into a centralized location, thereby supporting its growth trajectory.
Market Position and Competitors
Wirtz Realty operates in the competitive Chicago real estate market, which includes numerous established firms. While specific competitor information is not detailed in the available sources, the company's longstanding presence and diverse property portfolio position it as a significant player in the region.
Customer Feedback
Customer reviews for Wirtz Realty are mixed. On platforms like Birdeye, the company holds a 2.6-star rating based on 15 reviews. Some customers have expressed dissatisfaction with services, citing issues such as unfulfilled refunds and unresponsive communication. Conversely, other platforms like Trustburn feature positive reviews, with customers praising the company's professionalism and quality of service.
Industry Outlook
The real estate investment trust (REIT) market, which encompasses companies like Wirtz Realty, is projected to grow significantly. According to Allied Market Research, the global REIT market was valued at $2,604.70 billion in 2022 and is expected to reach $4,228.72 billion by 2032, growing at a CAGR of 5.1%. This growth is driven by factors such as technological integration and increasing demand for diversified real estate portfolios.
