Chicago, IL – Global real estate advisory firm Avison Young is pleased to announce the successful sale of the Hyde Park Residential Portfolio, a three-building multifamily portfolio of former student housing assets located in one of Chicago’s most historic and dynamic neighborhoods. The portfolio was sold for $9,115,000.

Comprising 63 residential units across three properties, the portfolio is strategically positioned adjacent to the University of Chicago and the University of Chicago Medical Center, offering prime access to academic and healthcare institutions. The addresses include:

5437–5447 S. University Avenue & 1154–1160 E. 54th Place (24 units)
5434–5438 S. University Avenue & 1124–1128 E. 54th Place (33 units)
5437–5439 S. Greenwood Avenue (6 units)

The transaction closed at the end of October and included a short-term leaseback arrangement to facilitate a smooth transition for residents moving from institutionally owned housing to market-rate housing within the community.

Avison Young represented the Seller, the Lutheran School of Theology at Chicago (LSTC), with the deal led by James Hanson, Principal, Richard Hanson, Principal, and Judson Martin, Senior Analyst. The Buyer is a private investment group, with Peak Properties serving as the management and leasing agent for the portfolio.

“This transaction marks a significant milestone in aligning LSTC’s real estate strategy with its long-term institutional goals,” said Hanson. “Avison Young’s strategic guidance has enabled LSTC to optimize its real estate assets in support of its mission to form visionary leaders and promote peace and justice.”

Avison Young has served as LSTC’s exclusive real estate advisor for the past six years, leading a comprehensive repositioning of its real estate holdings. Previous completed assignments include:

• Sale of four multifamily buildings formerly used as student housing
• Sale of LSTC’s former main campus and administrative buildings
• Representation in sourcing and securing new administrative and educational space in Hyde Park

Through a thorough analysis of rapidly evolving real estate and higher education landscapes, Avison Young crafted a strategy that supports LSTC’s future operational and missional goals in a post-pandemic world.