Big deal: Deconversions still happening in Chicago

Big deal: Deconversions still happening in Chicago

Condo deconversions should be dead in Chicago. The voting threshold was raised last year from 75 to 85 percent; rock bottom interest rates promote homeownership; the pandemic has caused many investors to pull back on their reins. And yet, the trend persists....
Could coronavirus lead to Chicago condo deconversion resurgence?

Could coronavirus lead to Chicago condo deconversion resurgence?

Though a new law has made condo deconversions trickier to execute in Chicago, it hasn’t killed the investment strategy. Not by a long shot. Deconversion deals – in which an investor scoops up all the condo units in a building and converts them to rental apartments –...
Kiser Group brings 70-unit LaSalle Towers to market as condo deconversion

More Chicago condos morphing into apartments

The coronavirus has pushed many real estate dealmakers to the sidelines, but it hasn’t stopped the business of converting condos into apartments. In Edgewater, local landlord Becovic Management Group has paid $13.3 million for Shore Manor, a 90-unit condominium...
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