Interactive Map: Tracking every Chicago condo deconversion deal

The market was already slowing before new City Council rule requiring 85% of owners to approve a bulk sale

Oct.October 22, 2019 09:00 AM

In 2016, investors in Chicago began scooping up aging condo buildings and converting them to rental properties. It quickly became the hottest real estate play in town. Between 2016 and 2018, dollar volume tripled each year, totaling $523 million in 2018, according to an analysis by The Real Deal.

But even before the City Council made it more difficult for investors to force condo owners to sell, the market had been slowing dramatically. Through Sept. 30, only $240.5 million in deconversions had been announced this year, about half as much as last year.

TRD recently put together an interactive map to illustrate which neighborhoods investors targeted, and how much they spent. Check that out, plus out our full story on the future of deconversions here.

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