Local Private Investor Acquires 33-Unit Mixed-Use Property In Hyde Park For $6.6M

The property asset involved in this transaction is a mixed-use property located at 5704 South Harper Avenue in Chicago, which was sold for $6.6 million. This asset comprises 33 units, specifically 28 one-bedroom apartments and five fully leased commercial spaces, generating a favorable price per unit of $200,000. Its strategic location near the University of Chicago contributes to its attractiveness and high occupancy rates.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $6,600,000
• Units: 33
• Price Per Unit: $200,000
• Address: 5704 South Harper Avenue
• Market: Chicago

Brad Feldman of Interra Realty represented both the buyer, a local private investor, and the seller, a private family partnership, in this off-market sale. The commercial spaces include tenants such as Subway and a bike shop, highlighting the property’s diverse occupant base.