Open/Close
Close

Condominium Development, Conversions and Deconversions

BETTER CONVERSIONS Happen when knowledge meets performance

Our attorneys help condominium developers and converters move multifamily and commercial condominium projects from initial concept to successful developments. We work with you at every step in the process, from identification and examination of sites through purchasing properties, preparing required municipal condominium reports and documenting declarations and bylaws. We also work with you to raise equity and secure loans in order to finance your projects. We represent owners and developers on residential and commercial projects nationwide. We help you determine your optimal ownership structures and ensure compliance with all municipal and other local requirements.

Condominium Deconversions

We have developed best legal practices with respect to representing real estate developers in the bulk purchase of units and converting these condo properties into rental apartment buildings. This includes representing real estate investors in successfully closing condominium deconversion acquisitions, as well as representing various lenders making loans to borrowers in connection with the acquisition of 100 percent of the units in deconversion projects.

David H. Sachs - a man in a business suit, smiling at the camera
David H. SachsChair | Real Estate Group
New Higher Majority Requirement for Condominium Deconversions in Chicago - Here's What You Need to KnowSeptember 20, 2019

Chicago Passes New Legislation Effective Immediately On September 18, 2019, the Chicago City Council unanimously passed a new ordinance that increases the percentage of owners required to approve the sale of a condominium building in the City. The ordinance, introduced by Alderman Brendan Reilly (42nd Ward), increases the required unit owner vote on a deconversion condominium sale to 85% of…

';
500 West Madison Suite 3700
Chicago IL 60661

Phone: 312-606-3200 Fax: 312-606-3232
© Horwood Marcus & Berk Chartered 2019. All Rights Reserved.
Close