Lutheran School Of Theology At Chicago Sells Hyde Park Residential Portfolio For $9.12M

The multifamily asset involved in this transaction consists of a 63-unit, three-building portfolio located at 5437-5447 South University Avenue, 1154-1160 East 54th Place, 5434-5438 South University Avenue, 1124-1128 East 54th Place, and 5437–5439 South Greenwood Avenue, situated in the Chicago market. The sale price was recorded at $9,115,000, resulting in a price per unit of $144,683.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $9,115,000
• Units: 63
• Price Per Unit: $144,683
• Seller: Lutheran School of Theology at Chicago (LSTC)
• Brokers: James Hanson, Richard Hanson & Judson Martin - Avison Young

The transaction was marked by a note of a short-term leaseback for residents, and was managed by Peak Properties. The deal was led by Avison Young principals James Hanson, Richard Hanson, and Judson Martin.