This two-building apartment portfolio in Chicago’s Hyde Park neighborhood includes 77 units. 5135 S. Blackstone has 33 studio apartments and three one-bedroom apartments, and 5111 S. University contains 41 studio apartments. Each building has on-site laundry. The portfolio sold for $4.25 million.
“This sale provided the opportunity to acquire a large number of studio apartments, which are in high demand from students at the nearby University of Chicago campus,” said Lee Kiser, principal of Kiser Group. He and Baumann represented both the buyer and seller in the transaction. “The buildings are also close to the 51st Street Commercial District and are only one block from the new Whole Foods store.”