ChicagoSouth Side

Head south to North Kenwood / Oakland for more affordable rents

by Joe Zekas on 4/18/13

In the above video, shot in 2009, Coldwell Banker’s Clarence Thompson drove one of Yo’s reporters around the North Kenwood / Oakland neighborhood chatting about some of its history and about real estate values. Values have, not surprisingly, plummeted in the area since that time. To cite just one example, a 3-bedroom, 2-bath condo on Oakwood Blvd that sold for $310,000 in 2007 just came on the market for $71,100.

Toward the end of the video you’ll see scenes from Oakwood Shores, a large-scale redevelopment of sites cleared of CHA housing projects as part of its Plan for Transformation. YoChicago took an extended look at Oakwood Shores and other developments in the neighborhood back in April of 2007. More recently, we paid a video visit to some of the remaining units for sale at Oakwood Shores.

Tracking the market, recent development activity at Oakwood Shores has been rental apartments. New apartments have recently come to market, and more are slated to open soon in a new mid-rise building. The buildings offer a mix of CHA, income-restricted affordable and market-rate apartments.

Rents for the market-rate units start at $965 for a 1-bedroom, $1,157 for a 2-bedroom, and $1,433 for a 3-bedroom, 2-bath.

Search Bronzeville, North Kenwood or Oakland at YoChicago’s video page for more of our videos from the area.

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