46 results for “deconversion”
Multifamily N Illinois

Not a passing craze: Deconversions still strong in Chicago

| Matt Baker

There were two major condo deconversion deals announced in Chicago at the close of 2018: Kiser Group’s deconversion of the 250-unit Flats on LaSalle and the sale of River City, the largest such deal for the market at 449 units. Since then, however, news of these condo-to-rental deals has been slow. Is this a sign that the trend itself is st…

Multifamily N Illinois

Luxury Living Chicago Realty begins leasing River City Apartments

With the kick off of leasing at River City Apartments, Luxury Living Chicago Realty has revealed the renovated one-bedroom model unit. Designed by Devon Grace Interiors, renovated units include quartz countertops, white cabinets, custom closets, in-unit washer and dryer and wood-plank floors. Units are now available for new residents at the…

Multifamily N Illinois

Interra Realty brokers deconversion sale on Chicago’s North Side

Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the deconversion sale of 2000 W. Birchwood Avenue, a 16-unit condominium building in Chicago’s Rogers Park neighborhood. Interra managing partner Brad Feldman and director Adam Saxon represented both the buyer and seller in the transaction, which a…

Multifamily N Illinois

Sale of River City marks largest ever Chicago deconversion

The River City Condo Association agreed to a bulk sale of all 449 residential units, making River City the largest condominium deconversion in Chicago history. A newly formed joint venture among The Wolcott Group, Marc Realty, Ruttenberg Gordon Investments and funds managed by Elliott Management Corporation purchased River City. The new own…

Multifamily N Illinois

CBRE completes $9.2M in Chicago condo deconversions

CBRE recently completed two condo deconversion sales in Chicago for a total of $9.2 million. In both transactions, Sam Haddadin and Justin Ross of CBRE represented the condo associations in the sale. The buyers of each property will deconvert the condo units and reposition them as rental properties.

Multifamily N Illinois

Deconstructing deconversion

| Matt Baker

Condo deconversion is a undeniable trend in Chicago. That’s why over 150 people came out to the Montgomery Club on October 18, 2018 to hear expert speakers discuss the ins and outs of this often complex, often lucrative real estate practice at the first annual Deconstructing Deconversion conference.