Peak Realty Tapped to Lease River North Office-to-Apartment Conversion
Peak Realty is now representing 318 W Grand, an office to apartment conversion in Chicago’s River North neighborhood. The brokerage and leasing company is now marketing and leasing the 12-unit building for owner MCZ Development, and Peak Properties LLC is tapped to manage the property.
“The lease up at 318 W Grand in River North is our first assignment that is part of the new trend of office deconversions to apartments,” said Alex Kushen, Peak Realty’s associate director of leasing. “We are excited to take part in this type of deconversion, which is a new housing product resulting from the post pandemic re-use of buildings.”
Added Mike Zucker, managing partner for Peak Properties, “This is a smart example of how to convert an office building into a modern multifamily property and the trend will only continue. There will always be some challenges to adapt offices into apartments, yet the results speak for themselves.”