Joel Dyck, a REALTOR® with Real Broker SK Ltd. in Saskatoon, points out that not every office tower is a good candidate: floor plate depth matters, since some older buildings were designed around a central core with little natural light reaching the middle of the floor, which is a poor layout for a bedroom.
Cost is the other real constraint. Adding enough plumbing stacks and separate ventilation for dozens of individual suites is a different scale of work than a typical office renovation, and that cost has to compete against building new on an open lot.
Get your hand-reviewed valuation from Joel Dyck.