Chicago & Midwest + North Side + Apartments | November 8, 2018

Kiser Brokers Deconversion Deal in East Lincoln Park

Kiser Group recently brokered the sale of 512 W. Wrightwood, a 20-unit condo deconversion in the East Lincoln Park neighborhood, for $4.55 million. The seller, 512 Wrightwood Condominium Association, reached a unanimous decision to sell to an affiliate of Horizon Realty Group.

Originally built in the late 1950s as condominiums, the property features four studio, 14 one- and two two-bedroom units. “The building has always been condos and the smaller unit sizes are similar to today’s rental product,” said Kiser Group’s Lee Kiser. “The property already feels like an apartment building, and should be a successful deconversion.”

At Horizon Realty, Jeff Michael said, “The building has great character and is located in one of Chicago’s best streets. We intend to give it a renewed life and execute on a renovation plan that will attract renters seeking a unique apartment in an A+ location.”

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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 GlobeSt.com 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).

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