Hyde Park’s newest apartment building rehab, the revamped University of Chicago dormitory Shoreland Hall, now known as the Shoreland Apartments, 5454 S. Shore Dr., has been open for a month.
As of last Friday, leases were signed for 60 units, of which 25 had tenants currently living in them. The 13-floor building built in 1926, now including more than 300 apartments and amenities such an exercise room, party room, club room and library, welcomed its first tenants Aug. 25.
Around 100 of the apartments have two bedrooms, 200 have one bedroom and the rest are studios and three-bedroom units, according to Peter Cassel, director of community development for MAC Property Management. All apartments are fitted with washer-dryers and most range from 500 to more than 1000 square feet.
All tenants have access to Internet service that Cassel calls the fastest “residential multi-family” connection in the city, as well as a garage with 130 parking spaces that can accommodate “well over 200” vehicles with the help of stackers and valet service.
“We don’t know what the demand [for parking] looks like or what it’s going to be,” Cassel said.
One of the new building’s highlights is its new spacious and sunlit lobby designed by architect Jeanne Gang, which represents a return to the onetime hotel’s art deco style, according to Cassel. The space, which will offer beverage services and play host to parties, includes reupholstered and refinished furniture from the original hotel.
“Our conception of the lobby is that this should be a social and dynamic place,” Cassel said. “We want people to be out here enjoying the lobby, meeting their neighbors, hosting their friends, seeing this as an extension of their home.”
Cassel said the building’s Louis XVI Ballroom and Crystal Ballroom — where Hyde Park High School alum Amelia Earthart marked her 1928 transatlantic flight — “will be complete when they have tenants.”
According to Cassel, unit rental prices vary: “We work with a price and demand model, so we have daily price changes,” Cassel said.
As of Aug. 20, the day of the Herald’s interview and tour of the building with Cassel, studios ranged in price from $1,194 to $1,450; 1 bedroom apartments from $1,300 to $1,800; 2 bedroom apartments from $1,800 to $2,500 and 3 bedroom apartments from $3,500 to $3,700.