Greenstone Partners, a commercial real estate brokerage firm, has recently listed Imperial Lofts for sale. Located at 1528 S. Wabash Ave. in Chicago’s South Loop neighborhood, this 50-unit condominium property is being marketed by directors Jordan Multack and Malek Abdulsamad.
Multack and Abdulsamad are leading the marketing efforts for the property and will also guide the Imperial Lofts Condominium Association through its Section 15 deconversion sale.
According to Multack, investing in this deconversion provides a unique opportunity to add apartment inventory in a stable multifamily market. With almost half of the units already rented out, there is an established renter base that can benefit new investors. The prime location of Imperial Lofts near upcoming developments like the 78 mega-development as well as easy access to CTA and Metra stations make it an attractive long-term investment.
The property offers various floorplans ranging from one- to two-bedroom units along with one retail tenant on its first floor. Additionally, off-site personnel professionally manage the building which has been well-maintained without any major capital expenditures needed – making it stand out among other deconversions currently on market.
This highly sought-after South Loop condo conversion opportunity is now available for interested buyers through Greenstone Partners’ listing.
