Case Study

Multifamily

Chicago Multifamily Dodges $75k/year Bullet

Chicago, IL

Image of Multifamily property for Chicago Multifamily Dodges $75k/year Bullet

$75K Lender Mandate Removed

Solutions Found:

LOMA

Solution Value: $75,000

NFE Solution: Letter of Map Amendment

What happens when your property gets mapped into a Special Flood Hazard Area (SFHA)? Typically, the lender will require flood insurance if there is a loan on the property, and that added expense is never a welcome surprise to property owners!

After being newly mapped into an SFHA, their lender alerted a Chicago property that they had 45 days to place flood, total replacement cost, and business income insurance. Quotes were coming back at nearly $75,000/year. Talk about sticker shock!

View Other Case Studies

Image of Multifamily property for NJ & NY Multifamily Properties Save $105K+

$1.75MM+ in Added Property Value

NJ & NY Multifamily Properties Save $105K+ - Multiple, NY

In this case study, a New Jersey-based Commercial Real Estate Developer partnered with National Flood Experts (NFE) to reduce annual flood premiums and increase the property value of their multifamily properties in NJ & NY. NFE successfully removed flood insurance mandates from 15 buildings, resulting in approximately $105,000 in annual cost savings and over $17.5 million in increased property value.

Image of Multifamily property for Commercial Development Firm Adds $111K in Property Value

$111,000 in Added Property Value

Commercial Development Firm Adds $111K in Property Value - Tucson, AZ

In Tucson, AZ, a client had $5,500 per year in flood insurance expenses on two apartment buildings in the AE flood zone. SPOILER ALERT: Not anymore.

Image of Commercial property for Over $110,000 Reduction in Flood Insurance Premiums, Resulting to $1.8MM+ in Added Property Value

$1.8MM+ in Added Property Value

Over $110,000 Reduction in Flood Insurance Premiums, Resulting to $1.8MM+ in Added Property Value - San Jose, CA

Read how NFE helped a commercial real-estate portfolio save over $110,000 in premiums and increase property value by $1.8+ million across several retail & hotel properties in Hawaii and California.