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Kiser Group Lists Lakeview Condo Deconversion Opportunity
Kiser Group’s Andy Friedman and Jake Parker have listed a condominium deconversion opportunity at 3033 N Sheridan in the Lakeview neighborhood of Chicago. The property is listed subject to offer.
3033 N Sheridan was built in 1968 and converted to condominiums in 2008. A secondary renovation in 2015 included updates to a third of the units. A major facade restoration was just completed, and a major garage renovation will soon be completed.
“Highly sought after North Side neighborhoods like Lakeview do not see buildings of this size on the market often, creating increased demand from investors,” said Friedman. “3033 N Sheridan presents investors with two different options. The property is in turnkey condition and an owner can generate substantial NOI purely through transitioning from condominiums to apartments. Conversely, updating unit finishes, adding bedrooms and dens to select tiers, and adding amenities would generate even higher NOI.”
- ◦Sale/Acquisition
