HYDE PARK — The University of Chicago made $70.1 million on the sale of 21 properties in Hyde Park, according to newly released financial documents.
Financial documents released Dec. 23 reveal the previously unknown price of the 19 residential buildings and two vacant lots the university sold to New York City-based Pioneer Acquisitions in October.
The university announced in March that it would sell the properties because the real estate market for faculty and students in Hyde Park had become stable enough that the buildings could be sold and the money reinvested in teaching and research.
Jeremy Manier, a spokesman for the university, on Tuesday confirmed the sale price of the 21 university properties.
The university also is planning to sell three dormitories slated for closure in June: Broadview, Maclean and Blackstone.
Manier said the properties are not yet on the market, and a date when they will be offered for sale had not yet been determined.
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