21 Kristin Drive Condominium Association was sold for over $63 million on June 3, 2022. The 359-unit condominium building is located in Schaumburg, IL at the corner of Kristin Drive and Roselle Road.

The sale of all units, commonly known as a deconversion sale, was approved by a vote of the unit owners under Section 15 of the Illinois Condominium Property Act. Approval of this transaction required approval by 75% of the ownership.


Legal Resource

KSN handled the closing of this Chicagoland condominium association deal during a peak real estate boom.

Our law firm’s condo deconversion department is dedicated to navigating the entire Section 15 sales process including legal guidance and administrative support.

As of June 2022, KSN attorneys have closed over seventy Illinois condominium deconversions, including:

  • Terrace of Elk Grove Village Condominium Associations – 427 residential units within eight condominium buildings sold for $55.7 million in January 2022
  • Field Harbor Parking Condominium Association – 407 individually deeded parking spaces in Chicago’s Lakeshore East area in October 2021
  • Heritage Village Pointe – a Des Plaines, IL condominium association with 924 units, sold in February 2021 for $94 million
  • 663 W. Grace Street Condominium Association – a Chicago, IL condominium association located in the Lakeview neighborhood with 80 units, closed in April 2021
  • Deerfield Gardens Condominium Association – a Lake County, IL condominium association with 36 units, closed in July 2020
  • 1400 N. Lake Shore Drive – a downtown Chicago condominium association with 391 units, sold in November 2019 for $107 million
  • River City Condominium Association – a downtown high rise-condominium association with 449 units, closed in December 2018
  • Flats on LaSalle – a downtown condominium association with 250 units, closed in December 2018
  • Surfside Condominium Association – a high-rise association located on N. Sheridan with 188 units, closed in December 2018
  • Century Tower – a downtown high-rise condominium association located in The Loop with 296 units, closed in February 2018
  • 625 Wrightwood – a Lincoln Park condominium association with 98 units (residential and parking), closed in January 2017
  • Clifton Village – a Northside Chicago condominium association with 38 residential units, closed in August 2017
  • Loyolton – a Northside Chicago condominium association with 42 residential units, closed in December 2017
  • 2625 N. Clark Street – a Northside Chicago condominium association with 272 units (residential and parking), closed in November 2016

If your condominium association has been approached by an interested buyer, your association is in the middle of a potential sale or de-conversion, or you are a buyer interested in converting income property into condominiums, please contact KSN to discuss your legal needs.

Please call 1-855-537-0500 or visit www.ksnlaw.com.


Since 1983, KSN has been a legal resource for condominium, homeowner, and townhome associations. Additionally, we represent clients in real estate transactions, collectionslandlord/tenant issues, and property tax appeals. We represent thousands of clients and community associations throughout the US with offices in several states including Florida, Illinois, Indiana, and Wisconsin.


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