PARQEX CLIENT SPOTLIGHT
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REVENUE JUMP M-O-M
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REPEAT MONTHLY BOOKINGS
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REVENUE INCREASE
THE SITUATION
Before ParqEx, the property had no centralized parking system in place, making it difficult to manage tenant registration or optimize occupancy. The property had no revenue-generating model for parking, it lacked enforcement and access control to prevent and penalize unauthorized vehicles, and did not have visibility into usage data or occupancy trends. The management team needed a fast, low-friction roll-out that would accommodate tenants and offer real-time control.
THE RESULTS
In just five months, ParqEx has helped Academy at Drexel Court launch a fully digital parking solution, achieve nearly full occupancy, generate and grow parking revenue month-over-month, and offer a better resident experience and gain operational oversight. With tenant usage strong and revenue climbing, the property is on track for sustained, long-term parking profitability.
- 87% occupancy rate: 90 active parkers, 104 spots
- $1,265 new revenue generated in the first two months
- +278% increase in revenue over the last 90 days
- 708 reservations in 90 days (+88% vs. previous period)
- Revenue nearly tripling month-over-month
- Transaction volume ramping up sharply
- 96.67% of transactions are monthly
- High adoption among residents
CLIENT PROFILE: ACADEMY AT DREXEL COURT
LOCATION: 6140 S Drexel Ave, Chicago, IL 60637
Academy at Drexel Court is a residential and multi-family property located in Chicago’s Woodlawn neighborhood. With over 100 parking spots and a growing resident base, the management team needed a better way to manage tenant parking, monitor occupancy, and start generating income from underutilized space. In November 2024, they partnered with ParqEx to deploy a smarter parking solution that prioritized ease of use, efficiency, and profitability.
PROPERTY TYPE
Multi-Family/Residential
NO. OF GARAGES
1
PARKING TYPE
Parking Garage
PARKING SPOTS
104
Academy at Drexel Court Enables Parking Upgrade & Monetization for Multi-Family Community
A complete parking and internal management tech stack
After sitting with the property managers and fully understanding the pain points and wish-list items for Academy at Drexel Court, ParqEx deployed a suite of tools to bring a centralized parking operation online.
ParqEx implemented its Internal Tenant Management system to provide seamless tenant registration and space assignment. ParqEx Marketplace was set up to create a new stream of monetization for unused parking spaces.
To solve the property’s problem with unauthorized vehicles parking on-site, ParqEx unleashed its Enforcer suite of tools.
This complete solution allowed management to maintain a clear distinction between authorized resident use and public parking while monetizing excess inventory.
“ParqEx gave us instant control over our parking operation. What used to be a blind spot is now one of the most organized and high-performing parts of our property. Their customer support and responsiveness are just as impressive as the revenue we’ve begun to generate.”
Property Manager
Academy at Drexel Court
Real Data in Real-Time
A simple-to-use but robust real-time dashboard was then set up for management, providing full visibility into usage and performance metrics in real-time.
A snapshot of Academy at Drexel Court’s live reporting dashboard for their property:
The solutions for Academy at Drexel Court
The ParqEx Marketplace
List your exclusive inventory of private parking spots for internal or public rental and add supplemental recurring income.
Secure Guest Parking
Eliminate the hassle of managing visitor parking and makes guests’ lives easier when they arrive.
Parking enforcement
Quickly, easily verify vehicles on one or multiple properties, and issue violations instantly.
ParqEx Admin Solutions
Real-time property reporting to view usage trends and performance with smart parking analytics.
Internal Tenant Management
A residential/tenant solution from ParqEx that provides seamless tenant registration and parking space assignment.
Available now in the app stores or online at app.parqex.com
Questions? Call us: (855) 727-7391
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