CHICAGO, IL – Interra Realty brokered the $17-million sale of a three-building, 79-unit multifamily portfolio in Chicago’s Hyde Park neighborhood to a single buyer. The properties include the 25-unit 1310 E. Hyde Park Blvd., the 26-unit 1318 E. Hyde Park Blvd. and  the 28-unit 1334 E. Hyde Park Blvd.. 

The transaction was the neighborhood’s largest by sale price and unit count since Interra brokered the $23.4-million sale of The Cloisters, an 86-unit apartment complex at 5801 S. Dorchester Ave., in 2021. 

Senior managing partner Joe Smazal represented the private seller, an East Coast-based investor that had renovated 90% of the units. The confidential buyer, a separate East Coast-based investor represented by Interra managing partner Ted Stratman, plans to add energy-efficient boilers, replace all roofs, update the remaining unrenovated units and add new amenities. 

“These properties presented a long-term client with an opportunity to substantially add to its South Side portfolio,” said Stratman. 

Read the full article at ConnectCRE.

See additional articles on this deal below:

The Real Deal: East Coast Investor Buys Hyde Park Apartment Portfolio

RE Business Online: Interra Realty Brokers $17M Sale of Three-Building Portfolio in Chicago’s Hyde Park

RE Journals: Interra Realty Brokers $17M Sale of Three-Building Multifamily Portfolio in Chicago’s Hyde Park Neighborhood

BisNow: This Week’s Chicago Deal Sheet