Chicago & Midwest + North Side + Apartments | May 26, 2020

Kiser Markets Condo Deconversion in Old Town

LaSalle Towers, a residential condominium property at 1211 N. LaSalle Dr. in the North Side’s Old Town neighborhood, has been brought to market by Kiser Group. The LaSalle Towers Condominium Association, which voted a few years ago to seek a deconversion sale, is represented by brokers Andy Friedman and Jake Parker.

The 70-unit, 19-story building was built in 1929 as a hotel and later converted to apartments. In 2006, it was converted to condos. The units are a mix of one-bedroom, one-bathroom and two-bedroom, two-bathroom apartments.

“The association has received multiple offers in the past few years and ultimately chose Kiser Group to lead a professional marketing campaign,” said Friedman. “Half of the units are already being used as rentals, so it’s not surprising that the property attracts so much investor interest.”

Parker added, “LaSalle Towers is the type of property that is most resistant to economic cycles.”

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About Paul Bubny

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).

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