Gold Coast apartments going condo despite the opposite trend.

A historic building in Chicago's Gold Coast neighborhood is being converted from apartments to condos, bucking the trend of turning condos into rentals. The building, located at 850 N. Lake Shore Drive, was purchased by Crescent Heights for $79.75 million, a significant discount from its previous sale price of $140 million. The conversion is the largest of its kind in downtown Chicago in several years and offers a range of units from studios to three-bedrooms. The building's location, historic appeal, and competitive pricing are factors that make the conversion attractive to buyers. [Extracted from the article]

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