MultifamilyBiz: Interra Realty Brokers $17 Million Deconversion Sale of 91-Unit Multifamily Building Near Northwestern University in Evanston
Interra Managing Partner Pat Kennelly and Director Paul Waterloo helped the building’s condo association navigate the often-complex deconversion process – through which a single buyer purchases all condo units and reverts them to rentals – and secured several written offers. The buyer, Chicago-based North Park Ventures LLC, was represented by Interra co-founders and principals David Goss and Jon Morgan.
Built in 1939 and most recently renovated in 2001, 2730-66 Hampton Parkway is a courtyard building that includes 29 two-bedroom and 62 one-bedroom units. Residences, which were 75% occupied at the time of sale, have hardwood flooring and updated kitchens with stainless steel appliances. Residents also have access to on-site laundry and a surface parking lot.
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