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Chicago & Midwest  + Downtown  + Apartments  | 

CBRE Lists Condo Deconversion in Streeterville

CBRE has been retained as the listing agent for a deconversion opportunity at 540 N. Lake Shore Dr., a 150-unit residential condominium property in Chicago’s Streeterville neighborhood.

Martin Stern of CBRE is representing the homeowners’ association of 540 N. Lake Shore, which is offering the 150 brick-and-timber loft condo units in a bulk sale through a competitive bidding process. The listing also contains the adjacent 10,780-square-foot parking garage with 73 spaces at 450 E. Grand Ave.

Built in 1914, 540 N. Lake Shore was rehabbed in 1977 into 150 apartments, which were then converted to condos in 1992. The offering of the 150 units consists of studios, one bedrooms and several two-bedrooms.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition