condo-to-apartment deconversions &

multi-Family Building Sales

Our Team:

Berkshire Hathaway's Chicago Condo Consultants team provides commercial real estate solutions focused on matching individual and association real estate owners with larger private and public equity funds seeking to build a presence in the marketplace by purchasing entire condominium buildings from building association groups and multifamily buildings from landlords.

Market sales that reflect current opportunity: (% including special assessments and gross fees)

  • 3307 Kenmore Lakeview 60657 -4 unit- 1 Million (21% premium over individual value)
  • 3718 Wilton Wrigleyville 60613 - 5 units- 2.3 Million (17% premium over individual value)
  • 2201 Eastwood Lincoln Square 60625 - 39 units -7.2 million (25% premium over individual value)
  • 3748 School Avondale 60618 -12 units - 2 million (27% premium over individual value)
  • 732 Bittersweet Buena Park 60613 -100 units - 16 Million (22% premium over individual value)
  • 163 Schiller Old Town 60610 -6 units - 2 million ( 18% premium over individual value)
  • 512 Belden Lincoln Park 60614 - 26 units - 7.8 Million (20% premium over individual value)
  • 5623 Dakin Portage Park 60634 -3 units - 365,000  6 cap
  • 6971 Greenview Rodgers Park 60626  - 19 units - 2 million 5 cap
  • 500 DesPlaines Forest Park 60130 -39 units - 2.4 million ( 25% premium over individual value)

Our clients range from private investors to hedge fund groups and corporate/municipal players. 

How we work:

We will provide you with a clear, easy to understand analysis of market conditions that your land, home, apartment complex, or office property carries within Chicago's investment community.

We provide all types of highest and best use marketing programs to match each and every selling circumstance. Our costs are wrapped into the sale to ensure maximum return-on-investment meaning building owners pay a commission of .5% - 1.75%.


The deconversion market in Chicagoland is a result of the over development of apartment buildings converted into condominiums from 1996-2006. Individual condo owners often find themselves with lower equity positions than the value of their unit if it was offered to investors and developers looking for apartment vehicles to carry as part of a portfolio. This is often an opportunity for sales to be Above Individual Market Value. This opportunity typically provides 125% of the individual unit value. We typically collect fees for these transactions from the buying side. This is very unique approach and has served our clients and our team get better sale terms than typical for the industry. We will meet with your condo board to discuss what a deconversion would provide and a map of the sales cycle. This is a BOV or Brokers Opinion of Value.

Bulk condo acquisition is different than a residential a condo purchase. The analysis is based on a cash flow, not on a comparative analysis of  individual condos. They look at the potential cash flow of the property and apply their expenses to determine value. The cash flow of the property as a whole often outweighs the value of the individual condos creating values above residential pricing.

Simple Overview: 

  • Normally depending on bylaws, 75% of owners must agree to sale. All remaining parties are obligated to participate.
  • Net dollars to owners reflect quick sales cycle and lower commission
  • Only inspection units require showing ( compensation available )
  • No repairs / No Special assessments
  • The money is divided among the owners based on their percentage of ownership
  • Appeals can happen to allow a unit that has been significantly updated a chance receive an increased value 

We provide:

We require a month to month agreement to gage market interest of the property. If we are unable to secure promising potential investors we agree to part ways with the best efforts and opportunities explored and shared. We haven't had a listing for more than 3 months without establishing a buyer/seller solution.

  • Lower commission and lawyer fees because of our established network which will benefit yourNet gain
  • You don’t have to move, you can say and rent with income from sale and get rid of taxes and assessments
  • Capital gains can be  moved into a 1031 tax deferred exchange 

Lets Get started:  

Have the association leadership fill out this form to determine the viability of marketing your building.