July 9, 2019
Colliers International Chicago VP Tyler Hague represented the Lutheran School of Theology at Chicago in the $3.91-million sale of its 24-unit apartment portfolio located in the South Side’s Hyde Park neighborhood to RDG Funds LLC. The buildings are located at 5427-29 and 5430-32 S. University Ave.
“This was a tremendous investment opportunity,” said Hague. “Both assets will allow the buyer to tap into an enormous value-add opportunity. The buildings are located in a high demand area, just steps from the University of Chicago campus and within immediate walking distance to Hyde Park’s art, entertainment and dining district.”
With 18 units, 5427-5429 S. University is a three-story walk-up built in 1909. 5430-5432 S. University, also a three-story walk-up building, was built in 1901. Both buildings feature high ceilings, spacious apartments and the ability to reconfigure and add units.
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