TRENDS

The 1400 N. Lake Shore Drive Condominium De-Conversion

A few months back I wrote about the flood of condo de-conversions in the city of Chicago and how recent changes to Section 15 of the Illinois Condominium Property Act in 2018 could make it more challenging for developers to reach the 75% owner threshold required to trigger de-conversion. It was only a matter of time before the saga of a high-profile condominium teetering on the brink of de-conversion...