CHICAGO, IL – HFF announced today that it has been named to market for sale a six-property, 1,292 unit multi-housing, senior housing and hotel portfolio in the Chicagoland area. HFF is marketing the property on behalf of the seller, IRMCO Properties & Management Corporation. Pricing for the portfolio is anticipated to be well in excess of $200 million.
Individual property details are listed below:
Property Address Unit Size Year Built
The Belden-Stratford 2300 Lincoln Park West, Chicago 297 Units 1923
Flamingo Apartments 5500 South Shore Drive, Chicago 167 Units 1926
The Seneca 200 East Chestnut, Chicago 264 Units 1926
Sovereign Apartments 1040 West Granville Avenue, Chicago 283 Units 1924
Versailles Apartments 5254 S. Dorchester Avenue, Chicago 96 Units 1920
North Shore Retirement Hotel 1611 Chicago Avenue, Evanston 185 Units 1919
The HFF team representing IRMCO Properties & Management Corporation is led by executive managing director Matthew Lawton (top right photo), senior managing director Dan Peek (middle left photo) and managing directors Sean Fogarty (lower right photo), Marty O’Connell and Danny Kaufman.
“This is a once in a generation opportunity to purchase a portfolio of well-located, high-amenity, iconic properties that have been family-owned and managed for the past 40 or 50 years,” said Lawton. “It provides tremendous value-add for a new owner to purchase the trophy properties and place their own mark on them.”
“The portfolio is unique in that there are three pure apartment communities, an age-restricted living facility, two properties that function as both a hotel and apartment complex and three properties that draw from the student populations at the University of Chicago and Loyola University,” added O’Connell.
IRMCO Properties & Management Corporation is recognized for its management of some of Chicago’s most renowned properties. These properties are located along Chicago's famous lakefront, where IRMCO has established its reputation for operating hotels, apartment buildings and retirement communities since 1951.
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