Kiser Group markets Condo Deconversion in Old Town
May 26, 2020 | News
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.”
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As an Advisor at Kiser Group, Jake combines his passion for sales and experience in real estate investment management to deliver results for his clients. Jake represents clients on the acquisition and disposition of multifamily and mixed-use properties throughout Chicago’s near north side neighborhoods including Albany Park, Lakeview, Lincoln Park, Old Town, and River North. Since joining Kiser Group in 2016 as an analyst, Jake was promoted to broker and has successfully closed over $40 million in multifamily transactions.Jake’s entrepreneurial spirit started early. Outside of commercial real estate, he developed and launched a successful online electronics recommerce business which has seen year-over-year growth over the past six years. Jake graduated with honors from Michigan State University’s School of Hospitality Business within the Eli Broad College of Business where he majored in Hospitality Business and minored in Real Estate Investment Management. While at Michigan State, he was a member of the Real Estate Investment Club and Sigma Pi fraternity.Jake lives in Chicago’s Gold Coast neighborhood and enjoys bike rides along the lakefront, watching Michigan State sports and dining at the city’s vast supply of restaurants. He is a member of the Northwest Side Building Coalition (NSBC) and the Young Real Estate Professionals of Chicago (YREP). View Full Bio Here