54 results for “deconversion”
Multifamily N Illinois

Lake Point Tower residents fight back against deconversion

Chicago’s historic Lake Point Tower has taken steps that are meant to ensure that the building remains permanently owner occupied and will not be deconverted to apartments. The Lake Point Tower Condominium Association (LPTCA) board, as well as a supermajority of unit owners, recently adopted two amendments to prevent the building from being…

Multifamily N Illinois

33 Realty brokers deconversion sale in Gurnee

33 Realty has brokered the $18,500,000 deconversion sale of 198 condo units at Deer Creek at 1600, 1700 and 1800 Wedgewood Drive in Gurnee, Illinois. Consisting of three 66-unit buildings situated on 33 acres, Deer Creek was built in 1983 and converted to condos in 2007. This is the largest condo deconversion sale in Lake County to date. Se…

Multifamily N Illinois

Did Chicago just deep-six deconversions?

| Matt Baker

Chicago’s City Council has passed a resolution to increase the voting threshold on condo deconversions. Now, any building looking to switch from condo to rental will need the assent of 85 percent of the condo owners, instead of the 75 percent threshold that previously held true.

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…