In The News – Crain’s: Chicago Real Estate Daily |Apartment building Near U of C Sells for $2.3M
A venture led by Lincoln Park-based Hanover Hamilton Investments paid $2.3 million for a 22-unit apartment building at 836-42 E. 53rd St. in Hyde Park, according to Cook County records. Hanover Hamilton principal Jill Sickle said the firm plans to renovate the courtyard building, which has nine one-bedroom and 13 two-bedroom units, although it has not finalized plans for upgrades. “(The property) was very consistent with what Hanover Hamilton likes to do, which is really value add-type properties,” Sickle said. “We try to take very well-located properties that are perhaps a little tired and update them and make them fresh.” Broker Brad Feldman, managing partner at Chicago-based Interra Realty who sold the property, said the seller, a venture controlled by Chicago investor Craig Yale, had done some renovations to the building since purchasing it for $958,500 in 2002. Yale was not immediately available for comment.
See Article Here: Crain’s