Kiser Group advised on the $32.3 million sale of The Barry Quad, a three-building, 115-unit condominium deconversion in the North Side’s Lakeview neighborhood. Andrew Friedman and Jake Parker represented both the seller, Barry Quadrangle Condominium Association, and buyer, North Park Ventures.
“Barry Quad had been attempting to sell in a deconversion since 2016, through both on-market listings and off-market efforts,” said Parker. “This particular sale was one week from closing contingencies in March of 2020, when financing was lost due to the pandemic. Sheer determination from North Park Ventures and continual communication with the entire association allowed the deal to stay alive and ultimately close.”
Freidman added, “Condominium deconversion sales are alive and well in Chicago. While the type, size, and locations of buildings deconverting will differ from year to year, there still remains a meaningful value proposition for both unit owners and buyers.”
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).