Magazine article Journal of Property Management

A Luxury Conversion

Magazine article Journal of Property Management

A Luxury Conversion

Article excerpt

Sam Roti has his work cut out for him. As presidenc of Chicago-based Markwell Properties Development Inc., he is converting an Art Deco landmark office building into 14 luxury condominium units. "We have to remove the barriers of peoples perceptions of what is an acceptable residential location," says Roti about the downtown Wacker Tower, former headquarters of the Chicago Motor Club. "That's not only with potential buyers, but also with the brokerage communiry.

To that end, Roti has put together a slick marketing pacKage. It includes a video tape that highlights the building's positive points. such as the complete lobby restoration of the circa-1928 building designed by renowned architects Holabird & Root. The goal is to show that luxury can exist off famed North Michigan Avenue, home to the city's highest concentration of upscale units.

Roti believes the buildings proximity to Michigan Avenue, plus spectacular views of the Chicago River, will overcome any buyer objections. …

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