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Jason Neumark featured in Chicago Daily Law Bulletin article, “Lawyers help clients convert condos into rental property”

Date

May 10, 2011

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1 minute

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Partner Jason Neumark was featured in a May 10, 2011, Chicago Daily Law Bulletin article titled, "Lawyers help clients convert condos into rental property." The article discusses Neumark's representation of Waterton Residential in its purchase of 124 unsold units in the Mondial River West condo building and on its plans to convert those units into apartments.

“It was a project that had roughly 150 units and the developer only sold a small number of those units and ran into some trouble selling the rest,” Neumark said. “Once you get to a certain point where you can’t sell the units for the price that your lender requires in order to release the mortgage, you’re kind of stuck and that’s when these projects get into distressed situations.”

Click here for the full article.


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