05.17.21
Kiser Group Closes on Three-Building Deconversion Deal in Lakeview
Kiser Group advised on the $32.3-million sale of The Barry Quad, a three-building, 115-unit condominium deconversion in the North Side’s Lakeview neighborhood. The Barry Quad sale represents only the second vintage walk-up property of 100 units or more to trade in Lakeview in the past decade.
Andrew Friedman and Jake Parker represented both the seller, Barry Quadrangle Condominium Association, and the buyer, North Park Ventures. “With three buildings, 115 units and 113 separate owners, the Barry Quad deconversion sale was a huge undertaking,” said Friedman.
“Each building has its own distinct heating and cooling systems and differing amenities,” he continued. “Further complicating the effort, each individual unit had been customized since the 1984 conversion, leading to zero uniformity of unit finish levels. Pre-sale valuation and buyer due diligence were quite involved processes that required multiple property visits and coordination with owners.”
