The Co-op to Condo Conversion Specialists™

Geddes Lake Condominiums

 Geddes Lake Condominium
Date Converted
Building Website
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Property Information

Location Ann Arbor, MI
Number of Units 360
Year Built 1970
Year Converted to Condo 2008

  1. Co-op values had declined to one-half of their values in just a few years.
  2. Shareholders were abandoning their units and their banks defaulting.
  3. Cash was needed for major repairs.

  1. Market values increased IMMEDIATELY after the conversion by nearly 80%.
  2. After conversion, owners were able to sell their condos and defaults declined.
  3. $2 Million was raised during conversion.

What Owners Say About Their Conversion

“[They] really did save our community and after seeing the work ROA Hutton put into our conversion, residents told me the fee was not only "well worth it," but after they noted the conversion process, they stated that we never could have accomplished conversion without ROA.”

Patty Urban
Patty Urban
President of the Board of Directors

“ Because of our contract with ROA Hutton, Geddes Lake has stabilized property values in a declining market, raised $2M of capital to replace our roofs and given our community a fresh start. I highly recommend ROA Hutton to any coop community who sees the potential to improve the value of their property by converting to condominiums.

Stephanie Palmer
Stephanie Palmer
Secretary of the Board of Directors

Results from the Conversion of Geddes Lake

Value as a Cooperative (40% Increase)


Add: Obligation (Conversion Fees & Closing Costs)


Total Investment


Condominium Values after Conversion


Net Increase in Wealth (Equity)


PDF of Case Study: Geddes Lake Case Study