$95M Deconversion Condo Deal in Chicago Falls Apart
Following two years of delays due to the buyer's financing challenges, an agreement to sell a 467-unit property in River North has fallen through. The collapse of the deal comes after the condo board's decision in July to terminate the $190 million sale. A board member described the process of working with the developer as "hell for the past three years." The failure of the deconversion deal has put an end to the conflict among owners, with some initially eager to sell to capitalize on favorable interest rates, while others preferred to wait until nearby office space for Google workers opened.