The stately, 55-unit apartment building that was called 4700 Connecticut for nearly half of century has been rechristened Parker House. Redeveloper Conrad Cafrits is converting the building's one, two and three-bedroom apartments to condominium ownership in a block that is already heavily converted. The building at 4701 Connecticut and the Essex at 4740 have gone that route and the same path is now indicated for 4707.

But Cafritz insists Parker House is special. It gets its new name from Col. Myron M. Parker, a former D.C. commissioner who built it. His daughter, Ruth Parker Dove, has lived three since 1942 and maintains her apartment (and indoor garage space) under a life tenancy clause agreed on when the building was sold in 1976 to the LTH Partnership for $870,000.

Investment Group Development Corp., headed by Cafritz, bought the building for $1.9 million last November. Asked about the conversion, Ruth Dove said she's "going along with the tide; real estate is fascinating. I've always loved it."

Thirty of the building's units have been sold at prices of up to $10,000 and three are only a dozen tenants still in residence. A semi-circular driveway will be part of the new entrance and landscaping.

The Chamber of Commerce of the U.S. of A. recently paid $790,000 for a property at 4940 Nicholson Ct., Rockville, in the White Flint Industrial Park. The Chamber plans to use the building, purchased from Automatic Data Processing, to house its increasing computer equipment. The downtown headquarters of the Chambers (in the monumental building at 1617 H St. NW) is said to be busting its seams with staff and equipment and is unable to take the new computer load.

Look for a new restaurant in the image of the new Chez Francois in rural Great Falls to be opening early next year in the former DeLong Bowman house in Reston. Attorneys Harold Miller and David Ralston, both Restonites, bought the house with attorney Robert Roadman for $350,000 from Gulf Reston, Inc., which used it as an entertainment spot. The new owners plan to retain the facade and add several small buidlings on the periphery of the 5.3-acre site on Reston Avenue.

Statistics from the Northern Virginia Board of Realtors show that there were 1,645 sales in that region in February (the coldest one in many a calendar) for a total volume of $103 million, compared with 1,141 sales for $74 million a year earlier.