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Clarence Court Condominiums, Oak Park, IL

  • Purchased a 26-unit apartment building in July 2001 for $83 per square foot
  • Increased rents from $700 per month to $1300 per month
  • Converted the building to condos in 2002
  • Sold 24 units by Sept 2002
  • Only two units remain, scheduled to close December 2002
  • Average condo sale price of $133,000, or $178 per square foot
  • Obtained some of the highest sales prices in the city at over $200 per square foot (without parking) on completely renovated units
  • Realized IRR of 88%

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Dining area

Living room

Living area


PDF version of this property.