Avison Young brokered the sale of the Hyde Park Residential Portfolio, a three-building multifamily portfolio of former student housing assets located in Chicago. The portfolio sold for $9.11 million.

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 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.

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. “This transaction marks a significant milestone in aligning LSTC’s real estate strategy with its long-term institutional goals,” said Hanson. The buyer is a private investment group, with Peak Properties serving as the management and leasing agent for the portfolio.