Distressed conversions

This thesis analyzes condominium and apartment development in the downtown Chicago residential market between 1997 and 2011. Specifically, it focuses on developments that converted from apartments to condominiums mainly during the boom years between 1997 and 2007 and developments that converted from condominiums to apartments during the bust years between 2008 and 2011. In the case of the latter, this thesis seeks to determine the reason or reasons that these developments had to convert from condominiums to apartments through a detailed analysis of four such developments. This analysis addresses development drivers including timing, pricing, and location. Additionally, this thesis considers the overall market conditions including supply, demand, economics, and demographics to determine what caused the boom and the ultimate bust of the market and these developments.

Department dc:contributor.department

Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2012

Authors dc:creator

• Safar, Canan Ceylan
• Pollard, Daniel

Advisor dc:contributor.advisor

• William Wheaton.

• Center for Real Estate. Program in Real Estate Development.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/76827

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/76827