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Chicago & Midwest  + South Side  + Apartments  | 

Hilco to Oversee 17-Property South Side Bankruptcy Sale

Hilco Real Estate, LLC announced Nov. 3 as the bid deadline for a court-supervised bankruptcy auction of 17 multifamily properties on Chicago’s South Side, formally known as Better Housing Foundation Portfolio C. The portfolio totals 181 units, to be sold as a whole and subject to a minimum stalking horse overbid of $4,785,000.

The buildings within this sale are in different areas throughout the South Side, including Park Boulevard, Jackson Park, Beverly and other neighborhoods in between. There are three to 24 units available in each building, and all units range in occupancy levels. 

The bankruptcy sale represents an opportunity for experienced owners/operators to make capital investments in order to bring the units up to City of Chicago and HUD standards.

Jeff Azuse, SVP at Hilco Real Estate, said, “With renovations, the units can be approved for various governmental assisted rental programs.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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).

  • ◦Sale/Acquisition
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