Matt King pushed back last year when Cunat, a multifamily developer and landlord, offered $30 million to buy out residents of his 300-unit condo complex in Lake of the Hills, about 40 miles northwest of Chicago. King, a general contractor who bought his first unit...
If we consider that 2017 was the year that deconversion sales in Chicago began in earnest, we are now four years into the cycle. I’m frequently asked my opinion of how much longer this cycle will last, and what it will look like going forward. To me, that comes down...
We all saw the devastating news of the Surfside condominium collapse in Miami, Florida. This incident has left many condo owners wondering about the safety of their building and brought a spotlight to aging condo stock. As a multifamily broker in Chicago, one...
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....
Four or so months into Covid-19, the commercial real estate world is still trying to make sense of what to expect in the coming months and years. In multifamily, landlords have many concerns ranging from tenants’ ability to pay rent to leasing vacant units to...
