01.23.20
Connect Chicago: Kiser Group Brokers Oak Park Condo Deconversion Deals
Kiser Group recently brokered two condominium deconversions in Oak Park, IL. Regency Terrace Condominiums, a 56-unit condo deconversion at 922 North Blvd., sold for $8,805,000, while Clarence Court, a 26-unit deconversion located at 628 Harrison St., sold for $3.6 million.
The brokerage’s Andy Friedman and Matt Halper represented the Regency Terrace Condominium Association in the sale, while Marco Cesario represented the buyer, Goldman Investments. Friedman and Halper represented the buyer Redpoint Capital Management and seller Clarence Court Condominium Association in the Clarence Court transaction.
“These two properties provide attractive opportunities for investors to capitalize on the strong rental market in Oak Park,” said Halper. “It is unique among Chicago suburbs in that there is new construction multifamily development activity similar to many city neighborhoods.”
He added, “Oak Park is well located near multiple transportation options with strong retail, restaurant, and entertainment offerings renters demand.”
