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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