Uptown in the News
March 17, 2004
Like a lot of developers, Michael Zaransky, chief executive of Prime Group Investors Ltd., is somewhat amazed the residential market continues as strong as it is. But he doesn't let himself get carried away. Zaransky has stayed away from building close to downtown and opted for projects in Ravenswood, Uptown and Rogers Park, mostly condo conversions.
He said his sales are healthy, but that good apartment buildings he regards as conversion candidates are hard to find. Zaransky mostly wants buildings in the 20-30 unit range with vintage features. "I don't want to be stuck with a large building if the music stops" and buyers become scarce, he said.
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