5801 S. Dorchester Ave. – The Cloisters: Largest Sale in Hyde Park in a Decade

David Goss
Deal Stories
Goss and Morgan
Joe Smazal
Jon Morgan
Mark Dykstra

Chicago, IL – Congratulations to Interra Realty‘s David GossJon MorganJoe Smazal, and Mark Dykstra on the recent sale of 5801 S. Dorchester Avenue in Hyde Park. The Cloisters is an architecturally significant commercial real estate, multifamily asset that had been pridefully owned by a non-profit for 60 years. After receiving an unsolicited offer, the non-profit was introduced to Interra to perform a valuation. We were engaged to exclusively market the property and generated tremendous interest in a short period of time. The pricing greatly exceeded the value of the unsolicited offer and competition drove the price higher than our target pricing. The Buyer was selected not only because of their aggressive price and terms but because of their large portfolio of similar properties and the Seller’s confidence that they would be a good steward of the property for years to come.

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