Kiser Group recently brokered a 29-unit condo deconversion located at 7000-7006 S. Dorchester Avenue in Chicago. The South Shore asset sold for $950,000 to WPD Management. The deal was brokered by Kiser Group’s senior director Noah Birk and director Aaron Sklar.
“Condo deconversions are rare to see in the South Side of Chicago,” said Birk. “The condo owners were motivated to sell because of high taxes and high HOA fees.”
“The buyer was interested in this deal because they believe the building will have a dramatically lower operating expense once converted from individual condo units to apartments,” said Sklar
The building is comprised of 26 two-bedroom units and three one-bedroom units.