Deconversion of Condominium Units: Addressing Multifamily Rental Needs in Tight Real Estate Market

Ms. Arnold is the Real Estate Practice Group Chair and also heads the firm’s Condominium Practice Group which handles all aspects of condominium law, including development, conversion, de-conversion, and working with homeowner’s associations. For over 30 years, through her wide-ranging real estate practice, Ms. Arnold has played a key role in shaping the landscape of many of Chicago’s most diverse neighborhoods and business communities. She focuses in the areas of real estate development, commercial and residential condominium development and conversion, leasing, mixed-use projects and high-rise development, restaurants, vertical subdivisions and separations, and commercial financing (lender and borrower representation). A focus of her practice has been condominium de-conversions. Ms. Arnold has served as lead counsel for the buyer on some of Chicago areas largest condominium de-conversions.

Ms. Elmore advises condominium, homeowner, and townhome community associations on all aspects of corporate law including: association contracts, amendments to declarations and by-laws, rule enforcement, the special assessment process, board elections, assessment collection, foreclosures and bankruptcy issues, developer turnover, construction defect disputes, and contract review. She is Chair of the firm’s Deconversion Department and advises condominium associations on the complex process of condominium deconversion (or “Section 15 sale”).  In this process, a buyer or developer purchases a condominium property and converts the property into apartment rentals. Considered by many in the industry to be the leading authority in the deconversion process, Ms. Elmore is a regular guest speaker and panelist for various industry lectures, seminars and panel discussions.