Palatine Saves $70K in Property Management Fees

The village of Palatine will save $70,000 by taking over the management of contracts for the maintenance and operation of the downtown parking deck, train station and the train station parking lot and platform.

Since July 2005, Palatine has outsourced the property management services to Hamilton Partners. This past winter the village was able to reduced its fees paid to the property management company by taking over duties to contract, manage and administer snow and ice removal at the facility. Since then, village officials said there is room for additional savings if it reclaims all management and maintenance duties. Hamilton Partners will still be in charge of cleaning the deck and train station.

The annual operating budget for the train station and parking deck is about $450,000. Annualized savings are expected to be less than $71,000 as the village will need to negotiate various contracts for the day porter, landscaping and elevator maintenance, and new contracts for HVAC maintenance.