Kiser Group brokers $32.3 million condo deconversion in Lakeview

Chicago’s Kiser Group has advised on the $32.3 million sale of The Barry Quad, a three-building, 115-unit condo deconversion in the Lakeview neighborhood of Chicago. Kiser Group Advisors Andrew Friedman and Jake Parker represented both the seller, Barry Quadrangle Condominium Association, and buyer, North Park Ventures, in the transaction.

Located on the 800 block of West Barry Street, the 115-units are spread across three buildings. 835-855 W. Barry, originally two distinct courtyard buildings containing 69 units, were fused together in the 1981 conversion with a pool, fitness room, party room, and sundeck in the middle. 856-864 W. Barry is a 34-unit courtyard building, and 850-852 W. Barry is a 12-unit vintage walk-up building. The Barry Quad sale represents only the second vintage walk-up property of 100 units or more to trade in Lakeview in the last decade.

Notable Kiser Group Condo Deconversion Sales Include:

• 1140 N. LaSalle, a 250-unit condo deconversion in the Gold Coast that sold for $38,000,000.
• 4601 N. Dover, a 64-unit condo deconversion in Sheridan Park that sold for $12,500,000.
• Regency Terrace Condominiums, a 56 unit condo deconversion in Oak Park that sold for $8,885,000.
• 512 W. Wrightwood, a 20-unit condo deconversion in Lincoln Park that sold for $4,550,000.