Chicago condo developer Nicholas Gouletas, passes away aged 82

Chicago condo developer Nicholas Gouletas, passes away aged 82

Prolific Chicago condominium developer, Nicholas Gouletas, passed away on January 8 at the age of 82.

Gouletas and his family business, American Invsco, rose to prominence in the 1970s as the nation’s largest condo converter. He led condo conversions at more than 140 properties.

His son Steven Gouletas told the Sun-Times that “his father, who had been in assisted living, had congestive heart failure and sepsis,” adding that he “had tested positive for COVID-19 but recovered after having only mild symptoms and had received a vaccine.”

Gouletas migrated to the United States from Greece with his family when he was 8 years old.

His father had been a builder in Athens. “Building is in our blood,” Gouletas once said.

Gail Lissner, managing director at Integra Realty Resources, who worked with Gouletas over the years remembers him as “a kind and generous gentleman and just a super salesman.”

Steven Gouletas added that his father loved his large Greek family and always showed deep respect for individuals.

He is survived by his second wife, Natel Matschulat Gouletas, five children and twelve grandchildren.

*More on GCT: How a Greek family built a multi-billion Film Studio in Chicago