Condo Deconversion

Why consider condo deconversion for your association?

If your HOA is struggling with issues such as:

  • A situation where multiple owners have tried to sell and have been unable to achieve the desired sales price
  • Sale prices have continued to decline
  • High number of rental units or a rental wait list
  • Potential buyers cannot secure traditional financing
  • Problems collecting monthly assessments or having a high delinquency rate
  • Large capital project(s) that would result in a special assessment
  • Low or no reserve funds
  • Insufficient budgeting
  • Increasing property taxes
  • Deferred routine maintenance
  • Outdated units and common areas
The benefits of condo deconversion
  • Profitability – sellers earn 25-30% above traditional residential values
  • Lower Fees – broker commissions and attorney fees are generally 15-25% less with a bulk sale
  • Less work! Let my firm, Ideal Location-Oak Park, guide you through the sale process
  • Financial Relief! Prevents owners from investing more money into a depreciating asset
  • Potential to remain in your unit- Owners can often times leaseback their unit after the sale occurs giving them time to plan their next step

Learn More About Condo Deconversion

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