TINLEY PARK, Ill., Nov. 14, 2016 /PRNewswire/ -- ATA National Title Group, LLC recently closed a $10 million de-conversion of a 36-unit condominium in Chicago into apartments. The underwriting, examining and closing team worked simultaneously with all parties to close all 36 units in one day and funded the following day.
"Our extensive underwriting experience with complex transactions and experienced local staff enabled an efficient and smooth closing experience for all parties," said Mike Wood, account manager, ATA. "With underwriting, examining and closing teams all in-house, ATA was able to manage all of the details associated with the 36-unit transaction to ensure an expeditious closing."
Millie Rosenbloom, real estate broker with Baird & Warner, originated the project sale. Cambi Cann, principal and owner, The Law Offices of Cambi L. Cann, P.C., represented all of the sellers in the transaction and Samuel J. Tamkin, attorney, Law Offices of Samuel Tamkin, represented the buyer. Lending was handled by Jeffrey Wisniewski of Lakeside Bank.
According to Wood, "the turnaround in the Chicago apartment market has enabled investors and sellers a unique opportunity to capitalize on existing real estate. Moving forward, we will see more de-conversions as rents continue to increase."
About ATA National Title Group
ATA National Title Group, LLC is a full-service title insurance agency providing comprehensive title and settlement services to companies and individuals involved in real estate transactions. It is licensed to issue title insurance in 27 states and, through partnering relationships, offers title and settlement services in all 50 states. It additionally maintains 45 offices, staffed by 444 employees, located throughout the states of Michigan, Ohio, Indiana and Illinois. ATA brands also include: Attorneys Title Agency; Greco Title Agency; Midstate Title Agency; Seaver Title Agency; Talon Title Agency; Associates Title Agency; Bankers Title Agency; Lake States Title; Pointe Title Agency; Unity Title Agency; and Westar Title Agency. For more information, please visit www.atatitle.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ata-national-title-group-closes-10-million-36-unit-condominium-de-conversion-in-chicago-300362094.html
SOURCE ATA National Title Group, LLC