Daily Herald: Don’t count out deconversions yet

Patrick Kennelly
Patrick Kennelly

Around this time last year, we saw headlines like “The Chicago deconversion craze is dying.”

A lot has changed since then, with the COVID-19 pandemic challenging virtually every major property sector.                                                                  

Yet deconversions — the process through which investors acquire individually owned condos in bulk and revert them to rentals — are alive and well in Chicago and particularly in the suburbs, where the threshold for owner consent stands at 75%, below the 85% now required in Chicago.

Why have deconversions remained popular? The answer is simple. For many owners and investors, they still make financial sense.

Read article: Daily Herald