Mar 19, 2020 | News
Fifteen to 20 years ago, the Chicago-area real estate was buzzing with conversions. Apartment buildings, often the vintage variety, were rapidly bought and converted into condominiums to appease the appetites of buyers looking to purchase a small piece of the real...
Nov 5, 2019 | News
By Carisa Crawford Chappell, Chicago Tribune Chicago apartment buildings can have many lives. “It used to be you bought an apartment building and converted it into condominiums,” said Susan Tjarksen, a managing director in the Chicago office of Cushman &...
Sep 25, 2019 | News
The Chicago City Council approved a measure Wednesday that tightens restrictions on the bulk sale of condominium buildings, a move that threatens the ability of investors to transform condo properties into lucrative rental apartments. State law requires potential...
Sep 23, 2019 | News
Chicago’s City Council has passed a resolution to increase the voting threshold on condo deconversions. Now, any building looking to switch from condo to rental will need the assent of 85 percent of the condo owners, instead of the 75 percent threshold that previously...
Sep 16, 2019 | News
An anonymous Miami-based investor has finalized a deal to convert the 64-unit Dover Court Condominium in Sheridan Park into apartments. And all it had to do was negotiate with 64 different owners. An entity registered as Neriel Lagoon LLC paid $12.5 million to acquire... 