Case Study: Peak Properties boosts parking revenue with Parkade

Parkade unlocks missed revenue during a condo deconversion

Peak Properties, a management company, faced significant parking challenges at their Chicago apartment building, The Archer. With low utilization of their 24-spot lot and an entirely manual process for long-term rentals, they were missing out on over $3,000 in potential monthly revenue. They needed a solution to decrease their staff workload, increase revenue, and improve the resident experience, leading them to implement Parkade's parking management software.

By using Parkade, Peak Properties automated their parking operations, enabling easy long-term rentals and introducing a new short-term parking option for residents and the public. This solution from Parkade dramatically increased parking utilization and revenue. The long-term parking utilization rose by 142%, and the building's net parking revenue grew by 197%, going from $0 to $700 per month in short-term revenue and approximately $5,000 in total monthly revenue.

Peak Properties