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Value Add Renovations

Value add renovations

Value Add Apartment Renovations

Pegasus specializes in multifamily apartment unit renovations for institutional owners and other general contractors.  With a background in scattered site, single family home renovations at scale, Pegasus has perfected production renovation techniques.  From overseas material procurement to sourcing skilled labor directly, we focus on reducing costs at all levels. 

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. Pegasus’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 a creative renovation scope of work.

Pegasus also works directly for other general contractors, such as Cubed Construction and Summit Design Build.  Under this scenario, Pegasus 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 (Pegasus) which frees up time to manage other activities on the project.

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Approach to Renovations

Since 2000, Pegasus and its principals have 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.

Pegasus 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 Pegasus.  From drywall to kitchen cabinets to countertops to plumbing fixtures, we source from China or local manufacturers to eliminate the multiple levels of markup.  

OUR LATEST PROJECTS

Condo Conversion at Hermosa in Chicago

Condo Conversion at Hermosa in Chicago

3 Unit condo conversion, gut rehab in the Hermosa Neighborhood of Chicago. This 3 unit features 1 Duplex up on the top of the building that features 3 bedrooms and 2.5 bathroom with an open concept. […]

Second Floor Addition at Acadia Terrice in Chicago

Second Floor Addition at Acadia Terrice in Chicago

Fully rehabbed single-family house with 6 bedrooms, 3.5 bathrooms and over 4,000 sqft of finished living space. The first floor features an open floor plan with hardwood floors throughout, wainscotin […]

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