In The News | This Week’s Chicago Deal Sheet: BISNOW

Joe Smazal
Multi-Family

The owners of a South Side condo complex agreed to sell to a firm that will reposition the units as apartments. It may be a sign condo deconversions, popular on the North Side for a couple of years, are starting to move south.

Tricap Residential Group acquired Everett Hyde Park, a 32-unit complex at 5454 South Everett in Hyde Park, for $5M. The units are all one-bedroom condos and were previously converted from apartments in 2007 with renovated granite countertops, stainless steel appliances, new cabinets and flooring, and in-unit laundry. Tricap Residential plans to upgrade the building lobby and common areas, make minor in-unit renovations and manage the property. Interra Realty’s Joe Smazal was the sole broker.

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