Kopley Group

★★☆☆☆
  • 5206 N Sheridan Rd

    Chicago, IL 60640

    Map & Directions
  • 773-769-2400

About Kopley Group

Hours
Mon. - Fri. 9am - 5pm;Sat. - Sun. CLOSED

Real Estate

Real Estate
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Under a year ago, I purchased a one bedroom unit at the Renaissance Lofts at 1791 W. Howard Street. This is the first condo development of the Kopley Group headed by Nick Kopley. They are also doing a second project at The Lofts at 1800 at 1800 W. Grace. I purchased my unit with their 2 year "Buy Back" Guarantee. This means that the developer has contracted to buy back my unit at the sale price, no questions asked, no later than 90 days from the date the Buy Back Guarantee is exercised. Concerning Kopley's Buy Back Guarantee, a Chicago Magazine article by Dennis Rodkin quotes Mr. Kopley: "It's absolute, no questions asked," says Kopley. "I don't care why you're not satisfied- we'll buy it back."
I first notified Mr. Kopley on June 2 that I wanted to exercise my "Buy Back Guarantee." Since then my attorney has been in contact with Mr. Kopley's attorney. We've been told that Mr. Kopley has to secure financing in order to make good on his "Buy Back Guarantee" - $160K for my unit. In the meantime, my life is "on hold" waiting for the Kopley Group to provide a closing date and contract. Will it take place within the promised 90 days? Obviously, preparing for my move and having a place to go cannot happen overnight.
A 2009 press release from the Kopley Group referred to Nick Kopley as, and I quote, "the creative owner/manager of over 100 million dollars worth of Chicago Rental Real Estate Property." We understand that credit is tight in this market. But with a $100 million dollar portfolio, buying back my $160K unit should not break a sweat. I'll be posting updates.

1
★★☆☆☆

Under a year ago, I purchased a one bedroom unit at the Renaissance Lofts at 1791 W. Howard Street. This is the first condo development of the Kopley Group headed by Nick Kopley. They are also doing a second project at The Lofts at 1800 at 1800 W. Grace. I purchased my unit with their 2 year "Buy Back" Guarantee. This means that the developer has contracted to buy back my unit at the sale price, no questions asked, no later than 90 days from the date the Buy Back Guarantee is exercised. Concerning Kopley's Buy Back Guarantee, a Chicago Magazine article by Dennis Rodkin quotes Mr. Kopley: "It's absolute, no questions asked," says Kopley. "I don't care why you're not satisfied- we'll buy it back."
I first notified Mr. Kopley on June 2 that I wanted to exercise my "Buy Back Guarantee." Since then my attorney has been in contact with Mr. Kopley's attorney. We've been told that Mr. Kopley has to secure financing in order to make good on his "Buy Back Guarantee" - $160K for my unit. In the meantime, my life is "on hold" waiting for the Kopley Group to provide a closing date and contract. Will it take place within the promised 90 days? Obviously, preparing for my move and having a place to go cannot happen overnight.
A 2009 press release from the Kopley Group referred to Nick Kopley as, and I quote, "the creative owner/manager of over 100 million dollars worth of Chicago Rental Real Estate Property." We understand that credit is tight in this market. But with a $100 million dollar portfolio, buying back my $160K unit should not break a sweat. I'll be posting updates.

 

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