State of the Market: Chicagoland Condo Deconversion in 2020

State of the Market: Chicagoland Condo Deconversion in 2020

Over the last few years, the sale of an entire condominium building to one investor proliferated in Chicago. Condo Deconversions, as they are called, have been well documented in the press and have been known to cause a lot of emotions amongst condo owners. Before...
Condo Deconversion: Just a trend or here to stay?

Condo Deconversion: Just a trend or here to stay?

The shifting balance between apartment values and condo values will dictate the frequency of deconversions, but the appreciation potential for the majority of low-priced condominiums is very limited. In addition, there will always be condominium properties that fall so far behind on their maintenance that a deconversion becomes the only viable exit option for current owners.