Representatives of the real estate market is betting on the rising cost of rental housing in South Shore, when there will be the Obama Library.
Old, long-vacant buildings and apartment houses in the area becoming more attractive to the landlords. The reason is the active development of infrastructure and creation of a large number of places for entertainment. This Golf in Jackson Park, Obama Library. The area is becoming more interesting from the point of view of rental housing and, of course, prices in this regard are growing. Apartment buildings in the area are actively purchased by major companies in the field of real estate. For example, the last about buying vacant for over 20 years home said Chicago Urban Renewal Partners. We are talking about the purchase of the building at 7109 S. Bennett Ave.
The house will create 68 one-bedroom apartments and 15 1 — and 3-bedroom. The total living area of the house is 53 700 square feet. The apartments will be sold at the price from 750 to 1450 dollars per month.
If the transaction is for the purchase of property is successful, an apartment in the house after the repair can be removed in the summer of 2018. But this is not the only project for the construction of housing in South Shore.
Zidan Management Group is working on the reconstruction of the 16-storey building at 2231 E. 67th St. It will accommodate 100 apartments. The house offers views of the Golf course in Jackson Park. The building was empty from the end of 2015.
Another project to build homes for 21 apartment, realize Kiser Group, is also planned for completion in 2018. The cost of the project is $29 million dollars.
