Kiser Group’s Friedman and Parker Close Lakeview Deconversion Sale
Kiser Group director Andy Friedman and advisor Jake Parker closed on a $4.925-million deconversion sale in Chicago’s Lakeview neighborhood. The property at 815-817 W Addison is situated in a low-velocity neighborhood a short walk to Wrigley Field and the Lakefront.
“The section 15 deconversion sale was appealing to the condominium association because the building was nearly all rental units and they received a premium to individual unit prices,” said Friedman.
Parker said he believes that the unit mix is what made the property appealing to the buyer. “The property consists of eight two-bed two-bath units and eight two-bed one-bath units,” he said. “Each unit was modernized, and gut renovated in the mid-2000s when the property was converted from apartments to condominiums,” Parker said.
Friedman and Parker are currently working on the Section 15 sale of 3825 N Pine Grove, a 94-unit condo building elsewhere in Lakeview.
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).