Hyde Park

Hyde Park is a thriving neighborhood south of downtown Chicago. The area played an important role in early Chicago history. Hyde Park was a stop on the legendary underground railroad and a tourist attraction for Chicagoans looking to escape the city during the nineteenth century.

The neighborhood eventually turned into an important center for advanced studies in Chicago with the construction of the University of Chicago during the 1890s.

The twentieth century brought many changes to the area. Migration of African-Americans from the south to Chicago brought new residents to Hyde Park and created one of the most diverse and vibrant communities in the city.

Hyde Park’s boundaries are 51st Street or Hyde Park Boulevard to the north all the way down to Midway Plaisance Boulevard. The western boundary is Washington Park and the eastern limit is Lake Michigan.

Hyde Park is defined by the many academic institutions that call the neighborhood home. The University of Chicago and several theological seminaries all bring people to the area from around the country.

Neighborhood Stats

According to the latest U.S. Census Bureau report the population of rhis Chicago neighborhood is 29,920. An even share of white and black residents live in the neighborhood, and recent immigration has brought Asian and Hispanic residents to Hyde Park.

Hyde Park is one of the stronger real estate markets in Chicago. A recent report from the Chicago Association of Realtors shows that condo sales in the area are up over last year.

A total of 98 condominiums were sold in Hyde Park during the second quarter of 2007, up from 80 during the same period last year.

Prices for condominiums in Hyde Park have remained steady throughout the neighborhood. During the second quarter of 2007, the average sales price for a condominium was $253,672, up by just 2 percent over 2006.

The neighborhood has enjoyed double digit growth in real estate prices with many new developments under construction in the neighborhood.

Hyde Park Condominiums

Real estate developers in Hyde Park are often at odds with local residents. Many locals look to limit the size of new condominium developments in the area.

Community leaders strive to maintain the small town character of the community while providing quality housing for newcomers.

Several large condo projects are planned for Hyde Park. Development of the Shoreland Residence Hall is planned to start in 2008. The Shoreland will eventually offer 260 condominiums.

Prices for one, two, and three bedroom units will start at $200,000. Floor plans range from 700 square feet for one bedroom condominiums to 2,000 square feet for three bedroom units. Completion is planned for 2010.

Many new campus facilities are also planned for the University of Chicago, including an arts center scheduled to open in 2010. The University of Chicago’s master plan includes projects to redevelop the area between East 60th and East 61st Streets.

On the Town

Hyde Park is full of shopping, parks, restaurants, and nightlife. Residents looking to get out and enjoy a day on Lake Michigan can head down to Promontory Point. The park is located at 55th street. Promontory Point offers incredible views of the downtown Chicago skyline as well as bike and jogging trails.

Shopping options abound in Hyde Park. Odd numbered streets north of 57th Street are generally where the most stores are found in Hyde Park. 53rd Street is the home of many of the most traditional stores in the neighborhood. Harpor Court is another excellent retail option in Hyde Park. A supermarket and other large stores can be found in the shopping center between 54th and 55th Streets.

Several restaurants featuring food from around Asia and the Middle East are found on 55th Street.

There are also museums around the University of Chicago that offer cultural events and special exhibits. The DuSable Museum of African American History and the Museum of Science and Industry both call Hyde Park home.