Yes, most do. Multifamily properties in Chicago with three or more units can typically receive a funded assessment and no-cost installation of water and energy saving equipment through utility efficiency programs, whether the property is market rate or income qualified.
For the owner, that means $0 upfront for the measures that qualify. This applies to properties served by participating utilities, which covers most of the city.
What is typically covered
What qualifies varies by utility and changes each program year, but most Chicago properties are offered some mix of:
- WaterSense showerheads and faucet aerators
- Programmable and smart thermostats
- LED lighting in units and common areas
- Hot water pipe insulation
- Rebates on larger common-area projects
Across three of our Illinois reference properties, funded equipment came to between $33 and $58 per unit. At one Illinois multifamily community, funded upgrades and services passed $50,000.
Who gains the most
ONPEAK works with owners and operators of properties with 50 units or more, and with portfolios that hold several properties in the area. Condo associations are outside our scope.
The properties that tend to gain most are older mid-rise and high-rise buildings with central gas hot water, where the owner also pays water and sewer. In those buildings a large share of the savings lands in the owner’s operating budget. Which savings reach the owner explains how to tell.
Where owners leave money on the table
The offers change every program year, budgets run out, and a standard assessment covers what is easy to install, not everything a building qualifies for. At our Lombard reference property, our own review found common-area HVAC savings the standard assessment missed. Owners with several buildings also find that each property can qualify for something different.
That is the work we do: qualify each property, make sure every eligible measure is approved, coordinate contractors, residents and your staff, and report the result. You pay our fee only once the upgrades are approved.
How to find out
Send us your property addresses. We then ask for recent water, gas and electricity bills and return an eligibility scan within 48 hours of receiving them, showing which properties qualify and the value of funded upgrades each could receive.
If your building is 50,000 square feet or larger, it already reports energy use to the City. What your Chicago Energy Benchmarking score means covers how that rating can point to the right upgrades.