University Park

About the Building

University Park is just one south Chicago condo development in the lovely Hyde Park neighborhood that offers spacious units, quality construction and all the amenities you need to live in comfort. Located at 1400-1450 E. 55th, the structure has been around since 1962 and has 540 separate units with general vicinity parking for residents with vehicles. The development was constructed in the median of 55th Street (the main thoroughfare in the beautiful south side neighborhood of Hyde Park), and the grounds include a large swimming pool and a small courtyard.

University Park is a striking development offering units with a number of different layouts and an average of 494 square feet of living space. The various floorplans include anywhere from studio to 3 bedrooms with an average master bedroom size of 200+ square feet. The kitchens in this development are typically 64 square feet, providing plenty of space to cook dinner for the family, or whip up a feast to entertain friends at your new home. And speaking of entertaining, the living rooms in this building are designed with up to 350 square feet of floor space—enough to host small get-togethers, or just lounge around on your own in wide open privacy.v No matter where you live, there are some essential amenities that, in this day and age, we just expect to have. Other features are an added bonus that make the city lifestyle that much sweeter. University Park incorporates the necessities with a touch of luxury from the rooftop aspects to handy building services to the critical elements back in your private abode. Luxury amenities or not, sometimes the most important factor in purchasing a new home is whether or not your four-legged family member can move in with you. This residential building is pet friendly, so start scoping out the perfect new spot for your furry friend's water bowl.

In addition to the basics of the building, you probably want the nitty-gritty behind the facade, too. Like how much can you expect to pay annually in assessments and taxes? Well, the average assessments for this sought-after Chicago residence are $1,600 per month, on top of taxes that typically cost $532 per year. And just to help you weigh out the nuts and bolts of purchasing a piece of real estate here, as opposed to some other building, we've compiled the most up-to-date data to suffice a comparison.

The price per square foot for property at 1400-1450 E. 55th is $145, with an average size of 494 square feet. The smallest units offer 400 square feet of living space, while the largest ones encompass 650 square foot floorplans. The standard length of time a unit in this building stays on the market (between listing and closing) is 96 days. Just to give you an idea of the going rate today for this particular site, a studio sold for $80,000 in August of 2007. There are currently few studio residences available in University Park, with an average listing price around $83,750.