CHICAGO, IL – Interra Realty Co-Founder and Managing Principal was recently featured in an article from Propmodo discussing the rise in places of worship being converted to residential buildings.

Religious institutions own an enormous amount of American real estate, much of it acquired generations ago when congregations were larger and the buildings made sense at the scale they were built. That math has changed. Attendance has declined across most denominations, maintenance costs on aging structures have not, and a growing number of congregations are reaching the same conclusion about what to do with buildings they can no longer fill or afford.

“These religious organizations are dealing with smaller congregations and they need to think about what to do with their real estate,” said Jon Morgan, co-founder and managing principal of Interra Realty. “These can cost quite a lot to own so selling them frees up money for their mission.”

Read the complete article at Propmodo.