Proptech company BlueGround, expands into Chicago

Blueground, a US-based proptech company, has expanded its presence into Chicago. Blueground is looking to make the apartment leasing process easier for both renters and landlords. The company offers fully furnished and full-serviced apartments from a month to a year or longer.

Blueground leases high-end properties and upgrades them to fully furnished, turnkey rentals, utilizing technology to automate all aspects of the rental experience. The company, which is leasing from prominent local property owners and management companies such as Bozzuto, The Habitat Company, The John Buck Company, Lincoln Property Company, Related Rentals and RMK Management, plans to lease 250 apartments throughout Chicago within the next year. Blueground currently offers apartments in prestigious buildings such as One Bennett Park, 500 Lake Shore and 465 North Park Drive.

“Blueground is revolutionizing the apartment rental process, which has historically been an unpleasant and time-consuming experience for both landlords and tenants,” said Alex Chatzieleftheriou, CEO and co-founder of Blueground. “Chicago renters will now be able to lease an apartment with the same speed and convenience that has come to characterize most other aspects of modern urban living. People expect and deserve to be able to get everything done from their devices with just a few taps, swipes and clicks. Why should renting an apartment be any different?”

Blueground typically leases several apartments before they hit the market, with a goal of holding them for many years, ensuring landlords’ steady cash flow and value-added financing solutions that maximize a property’s annual yield. 

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