05.26.20
Kiser Group markets Condo Deconversion in Old Town
LaSalle Towers, a residential condominium property at 1211 N. LaSalle Dr. in the North Side’s Old Town neighborhood, has been brought to market by Kiser Group. The LaSalle Towers Condominium Association, which voted a few years ago to seek a deconversion sale, is represented by brokers Andy Friedman and Jake Parker.
The 70-unit, 19-story building was built in 1929 as a hotel and later converted to apartments. In 2006, it was converted to condos. The units are a mix of one-bedroom, one-bathroom and two-bedroom, two-bathroom apartments.
“The association has received multiple offers in the past few years and ultimately chose Kiser Group to lead a professional marketing campaign,” said Friedman. “Half of the units are already being used as rentals, so it’s not surprising that the property attracts so much investor interest.”
Parker added, “LaSalle Towers is the type of property that is most resistant to economic cycles.”