Washington Park To See New Construction

CHICAGO-While multifamily buildings near Washington Park have undergone various rehab projects in recent years, no developer has built something from scratch. Kyle Gardner is about to change that, as he will acquire two city-owned parcels in the 6000 block of S. King Drive to build 24 condominium units.

The $3.6-million King Drive Courts Condominiums will be built in three buildings of eight units each from 6029 S. King Dr. to 6035 S. King Dr. Units will sell for $175,000 to $260,000. The city council’s committee on housing and real estate recently approved the sale of the city-owned parcels to Gardner’s It’s Real, Inc. for their appraised value of $121,000.

“The project is a long time coming,” says 20th Ward Alderman Arenda Troutman.

Meanwhile, a developer is paying $230,000 to buy a 17,682-sf parcel at 6200 S. Ellis Ave. in the Woodlawn neighborhood on the city’s South Side, with plans to build 10 townhomes. The developer is getting no city assistance for the $2.5-million project, which includes three-bedroom units being sold at market rates.