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Apartment Trio Commands Hyde Park’s Highest Price in a Year

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. 


Inside The Story

Interra Realty

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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