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Anyone Want to Buy 130 Condos in a Couple of Drab High-Rises?

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Credit Matt Garrison for calling this one. Earlier this month, @condoshark (that's Garrison's twitter handle) tweeted a rumor that Conlon would be taking over a bunch of bulk units in a pair of drab condo conversions in Lakeview. Crain's has the full story today. Despite an asbestos scare and a forced evacuation at 2930 North Sheridan, sales started strong at both high-rises, prompting @properties to flaunt 2930 as "Lakeview's fastest selling development." But the market soured before Kroupa Development could sell enough units to pay off the loan. According to Crain's, North Community Bank has taken over the two buildings, and they're trying to sell 67 unsold units in 2930 and 63 units 3033 North Sheridan in bulk. Baker Development has been named as a likely buyer. Earlier this winter, Robert Kroupa, the principal of Kroupa Development, had listed his own Uptown home for rent for $12,000 per month. The home has since been taken off the market.
· Bank to sell units in bulk at stalled Lakeview projects [Crain's]
· Conlon Taking Over 120 Units in 2930 and 3033 Sheridan? [Curbed Chicago]