City Hyde Park reveals pricing

The City Hyde Park Building located at 51st Street and Lake Park Avenue will allow future residents to move in beginning Dec. 21, with rent starting at $1,800. Spencer Bibbs
The City Hyde Park Building located at 51st Street and Lake Park Avenue will allow future residents to move in beginning Dec. 21, with rent starting at $1,800.

-Spencer Bibbs

 

By ALLISON MATYUS
Staff Writer

The newest addition to Hyde Park housing, City Hyde Park, has begun the pre-leasing process for when the apartment complex opens up in late December.

City Hyde Park, 5105 S. Harper Ave., will allow future residents to move in beginning Dec. 21, with rent starting at $1,800 for the cheapest apartment. The price range for the available units is anywhere from that to $6,000 a month to secure a space in the new establishment. The one, two and three bedroom units range anywhere from 771-square feet to 1,668-square feet.

In comparison to apartments in the South Loop, the City Hyde Park apartments are just as expensive, if not more, than some locations downtown. A one-bedroom apartment on South Michigan Avenue is about $2.50 per square foot per month, while City Hyde Park is about $2.36 for its monthly square foot price.

A two-bedroom, two-bath apartment on South Michigan Avenue has an average of about $2.20 for monthly square root price, but City Hyde Park sits at around $2.35 for its cheapest two-bedroom.

All of the affordable housing for City Hyde Park has already been filled, but 35 of these pricey apartments are still up for grabs.

The 180 apartments, which are designed by Studio Gang Architects, include a washer and dryer in every unit, private balconies, stainless steel appliances and floor-to-ceiling windows.

Residents will be able to enjoy a rooftop terrace, fitness center, study room with Wi-Fi and charging stations and a resident lounge with an attached coffee bar in the 15-story building. Underground parking will also be available for the building’s residents.

A statement on the City Hyde Park website says, “The mixed-use architecture aims to become a pedestrian-friendly hub for the area and add to the community’s combination of living and shopping.”

A 30,000-square foot-Whole Foods, as well as a Marshall’s and a Michael’s, will occupy the ground floor of the building facing Lake Park Avenue as new retail options for the Hyde Park neighborhood.

Peter Cassell, director of communidevelopment for the Silliman Group, said that the retail spaces are expected to open in the second quarter of 2016.

Cassell did not return a call regarding City Hyde Park’s competitive and pricey rates.

a.matyus@hpherald.com