- July 7, 2011
- 12:01 am
- Steve Christensen
Loyola Limited expands
The University's relationship with Argo Tea and Hershey's will now be managed by Loyola Property Management, a Loyola Limited business.
Loyola Limited, the parent company of Loyola University Chicago’s undergraduate student-run and -managed business enterprises, has launched Loyola Property Management (LPM), a real estate portfolio management firm. Established on July 1, 2011, LPM currently manages a portfolio of nearly 25 retail and residential tenants and $2.2 million in annual revenue for its one client, Loyola University Chicago.
The second business venture of Loyola Limited, LPM will offer retail and residential property-management services. The group is responsible for budgeting expenses, securing renters and collecting rent, complying with laws and regulations, and maintaining many of the investment properties owned and operated by Loyola University Chicago. Currently, LPM employs five undergraduate employees.
“By turning over the management of its retail portfolio to LPM, the University will experience a cost savings, but more importantly, it will provide an invaluable learning experience for the students involved with the business,” says Michael Bouras, president of LPM and CFO for Loyola Limited. “While the entire focus of the group will remain on our sole client, the University, there is a chance that we will expand in the future to serve non-Loyola clients.”
With its latest business enterprise, Loyola Limited looks to capitalize on the success of its inaugural business, The Flats at Loyola Station (www.loyolaflats.com). Launched in July 2010, The Flats is an upscale, luxury 10-unit guesthouse located in the heart of Rogers Park, across the street from Loyola University Chicago’s Lake Shore Campus (LSC). The group also plans to open two other businesses on the LSC this fall. ChainLinks, an on-campus, not-for-profit bike rental and repair shop, is scheduled to open in fall 2011. Felice’s Roman Style Pizza, a fast-casual Italian restaurant specializing in pizza, along with other Italian foods, is also scheduled to open this winter, or early spring 2012.
“What these students have been able to accomplish in less than a year is remarkable,” says Michael Brosko, associate director of capital planning for the University and Loyola Limited program advisor. “These are legitimate business operations that these undergraduates are taking on, and the entrepreneurial experience they are gaining in the process will serve them positively well after they walk across the stage at graduation.”
LPM Managed Properties:
Retail:
- 6481 N. Sheridan – McDonald’s and Harris Bank
6566 N. Sheridan – Carmen’s Pizza - Loyola’s Granada Center - Carmen’s Beauty, Subway, RadioShack, MB Financial, Felice’s (coming soon), and Tancun
- 800 N. State – North Community Bank, El Souk, Holiday Wine & Spirits, Quang Noodle, and Chicago State Loan Co.
- 840 N. Wabash – Bistronomic
- Loyola’s Corboy Law Center – Chick-fil-A
- Loyola’s Lewis Towers – Argo Tea Café, Hershey’s, and Einstein Bros Bagels
- Pearson and State – Chill, Alfredo’s, and Sally’s Beauty Supply
Residential:
- 1305 W. Thorndale
- 6256 N. Winthrop (Hopkins House)
About Loyola Limited
Loyola Limited is the parent company of Loyola University Chicago’s undergraduate student-run and -managed business enterprises. Strictly for undergraduates, Loyola Limited gives students an interdisciplinary academic experience and hands-on training outside of the classroom that surpasses the typical internship opportunity. By empowering students to run and manage their own businesses, the students obtain experience and knowledge that enables them to prepare for their post-graduate careers. Established in February 2010 by six undergraduate students driven with the vision of creating several student-run and -managed businesses around campus, Loyola Limited opened its inaugural business venture, The Flats at Loyola Station, in July 2010. Today, the company features more than 30 undergraduate employees. For more on Loyola Limited and its business ventures, visit www.loyolalimited.com. You can also follow the organization via Twitter (@LoyolaLimited) and Facebook (www.facebook.com/LoyolaLimited).
