SERVICES: DEVELOPER STRATEGISTclick
700 S. Federal Place, CHICAGO, ILLINOIS
SERVICES: DEVELOPER STRATEGIST
In this condo conversion project, a strategic approach was an essential aspect of ensuring the success and profitability of the assignment. In most condo conversions, developers can count on existing tenants to account for 10-20 percent of project sales. In this case, many of the tenants were students paying below market rates, which meant taking a different approach, and marketing the project to investors who would view tenant-occupied condos as a cash flow opportunity. As the lead salesperson on the project Genna Hill managed a team of 10 to seamlessly coordinate the sales from start to finish. This conversion of 355 units was over 80% sold within 6 months and performed at a higher return than the developer’s projections.