University of Chicago to Sell 11-Property Student Housing, Retail Portfolio
- May 30, 2016
Chicago—HFF was recently selected to market the sale of an 11-property, 394-unit portfolio plus six land sites, all under the ownership of the University of Chicago. Managing Director Brian Kelly and Associate Director Michael Higgins led the HFF investment sales team representing University of Chicago.
The portfolio includes six graduate student housing properties, four faculty/staff buildings, one retail property and six land sites, all totaling 272,593 square feet. The properties are located in Hyde Park within walking distance to campus, six miles south of Chicago’s Central Business District and close to Lake Michigan. The student housing facilities totaling 520 beds were 95.9 percent occupied overall at the time of the announcement. Unit sizes in the communities average around 692 square feet. University of Chicago plans to sell the entire portfolio in a single deal and no individual trades will be considered.
According to “The Chicago Maroon“, the properties are located at 1401 East Hyde Park Blvd., 5107 South Blackstone Ave., 5110 South Kenwood Ave., 5345 South Harper Ave., 5330 South Blackstone Ave., 5455 South Blackstone Ave., 5706–10 South Blackstone Ave., 1321 East 57th St., 1323 East 57th St., 1327–33 East 57th St., 1413–15 East 57th St., 1027–29 East 48th St., and 5117 South Kenwood Ave.
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