Colliers International | Chicago’s Tyler Hague represented The Lutheran School of Theology at Chicago in its $3.91 million sale of its 24-unit apartment portfolio located in Chicago’s Hyde Park neighborhood to RDG Funds LLC. The buildings are located at 5427-29 and 5430-32 S. University Avenue in Chicago.
“This was a tremendous investment opportunity,” said Hague, a vice president. “Both assets will allow the buyer to tap into an enormous value-add opportunity. The buildings are located in a high-demand area, just steps from the University of Chicago campus and within immediate walking distance to Hyde Park’s art, entertainment and dining district.”
5427-5429 S. University Avenue is a three-story walkup building built in 1909. The building features 18 units—16 one-bedroom units and two two-bedroom units. 5430-5432 S. University Avenue, also a three-story walkup building, was built in 1901. The building includes one five-bedroom unit, three four-bedroom units and two three-bedroom units. Both buildings feature high ceilings, spacious apartments and the ability to reconfigure and add units.