Condo Deconversions Likely To Spread
Deconversions continue to be a hot topic heading into summer, with several Chicago condominium towers on the market for a bulk sale to apartment investors. The benefits are twofold: owners can cash out and, in some cases, avoid costly repairs facing their building, while investors can acquire income-producing real estate without navigating rising land and construction costs. But getting these deals across the finish line can be a challenge, as Taylor Johnson client Sonny Ginsberg, co-founder of Chicago-based Ginsberg Jacobs LLC, explained in a recent GlobeSt.com story. As one of Chicago’s go-to deconversion experts, Sonny also spoke with the Chicago Tribune for a piece on when it’s the right time for condo associations to sell.