Valuing Energy Efficiency in Multifamily Housing: CheckMate Realty and Development

CheckMate Realty and Development, Inc. (CheckMate) and Community Investment Corporation (CIC) partnered to retrofit a 31-unit multifamily building that provides affordable, unsubsidized housing in Chicago’s South Shore neighborhood. Completed for $30,200 with a $12,000 low-interest loan, CheckMate reduced weather-normalized source energy use intensity by 36 percent through energy efficiency measures including air sealing and insulation, showing that multifamily property owners can often increase their net operating income through cost-effective energy efficiency measures.