University to Sell Hyde Park Properties

One of Hyde Park’s biggest landlords is selling nearly two dozen properties around the leafy college town. The University of Chicago has announced plans to put 19 apartment buildings and two vacant lots on the market next month. Thirteen of those buildings offer 543 units specifically for grad students who look for affordable living options near the South Side campus. The largest of the properties, the Gaylord at 5316 S Dorchester Ave, could be particularly attractive to buyers because it sits in the attendance area for Ray Elementary School, DNAinfo reports. A Gaylord two-bedroom rents for $966 a month. University officials say the sale represents less than half of the university's total residential property holdings, and would be listed in May. They also say no university staff will be laid off because of the sale, and current tenants' existing rents would be honored. [DNAinfo]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

How A New Financing Model Helps Spur More Mixed-Income Housing

Riverwards Group Secures Construction Financing For 155 Units In Olde Richmond

While Chicago Development Stalls, Fulton Market Keeps Building