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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.
- ◦Sale/Acquisition
