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]
