Chicago’s condos are turning into rentals. Here’s what’s driving the deconversion trend, and what it means for condo owners.
Condominiums that have surpassed their 1980s and 1990s heyday are prime targets for offers from investors. “It’s been a good way of finding an alternative source of investments,” said David Goss, co-founder and managing principal at Interra Realty. His firm did its first deconversion transaction of a 101-unit building in Uptown in January 2017. Since then, he’s noticed an uptick in the number of condos being turned into apartments.
Read article: Chicago Tribune