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