Condo Deconversion Broker and Advisor

Sam Haddadin

Sam Haddadin
Vice President
+1 312 935 1048
[email protected]
Learn More About Sam

“Whether or not you choose to market your condo association with us, please feel free to reach out to us with any questions or to simply get educated on the process.”


Apartment buildings have seen their rents sky rocket over the last five years and with that so have the prices of those apartment buildings.  Individual condo units on the other hand have not seen the same price growth.  To capitalize on that price difference, developers and investors have been reaching out to condo associations to buy each individual unit in a bulk purchase so they can then “deconvert” the building back to apartments.  In doing that, they have found that they can pay each condo unit owner a substantial premium for their  individual unit while still achieving the returns they need to justify the investment.
 
We can help you maximize that premium for the condo owners.  In addition to being the Chicago area market leader in apartment building sales, our team at CBRE has successfully  brokered the sale of the largest and most high profile condo deconversions in the city to date.  We have found that on the condo deconversion deals we’ve brokered, we have been able to achieve substantially better pricing and terms for the condo association, over and above what they received in their unsolicited offers from developers and investors.
 
CBRE is an international brokerage firm with tremendous resources and local market expertise. We have deep relationships with the investors who are most qualified to purchase your condo building (quite often out-of-state investors) and we can represent your condo association by running a competitive marketing process to drive the most aggressive pricing possible,  as  well  as  help  you  navigate  the  internal  association  process  and  communication  with  condo  owners.  These  are  complicated  transactions,  and  we  can  help  you  maintain leverage with the ultimate buyer throughout the process to get to a successful closing that meets the unique needs of your association.

Complimentary Services

  • Call us. We are happy to answer any questions
    that you may have about this process.
  • We are also available to meet with your condo
    board and explain what a potential condo
    deconversion could mean to your
    homeowners.
  • We can provide you with a Broker Opinion of
    Value (BOV) AT NO CHARGE. Our BOV will
    give you an idea of what price we think the
    entire building would sell for in today’s market.
  • If you have received an unsolicited offer from an
    investor, you can compare their offer to our
    BOV to find out whether the offer is
    competitive.

Brokerage Services

  • We provide brokerage services on a success fee
    basis. Our team at CBRE will market your
    property at our own expense and only upon
    the sale of the property do we collect a
    commission.
  • Once we have estimated the value of the
    property through our BOV process, we can
    provide you with a fee quote that will be
    significantly less than what a broker may
    charge for an individual condo sale.

Frequently Asked Questions

Looking for more information about condo deconversions? Here's the answers to some of our most commonly asked questions.

Office

321 North Clark Street
Suite 3400
Chicago, IL 60654
+1 312 935 1048