Sutherland’s new homes help rejuvenate historic Drexel Boulevard
For the better part of a decade, Sutherland Pearsall Development Corporation has played a major role in revitalizing the Hyde Park, Woodlawn and North Kenwood neighborhoods, on the South Side. The developer’s projects can be found throughout the area, but partners Mark Sutherland and Alexander Pearsall have paid particular attention to historic Drexel Boulevard, where they have played a key role in rejuvenating one of Chicago’s great historic streets.
The largest of Sutherland’s Drexel Boulevard developments is Drexel Parc Lofts, a seven-story 58-unit “soft loft” conversion at 4537 S. Drexel Blvd., in North Kenwood, close to the Kenwood Historic District and a ten-minute drive from the Loop.
The seven-story brick, stone and terra cotta building sits a generous distance from Drexel, and the setback is occupied by a large formal courtyard, surrounded by a wrought iron fence. The midsection of the structure is indented, creating an eight-sided configuration that makes most of the loft condominiums’ corner units.
“The large courtyard merges with the expanse of Drexel Boulevard and creates a spacious feeling, anchored by this solid building and nicely broken up by a couple dozen shade trees,” says Brent Norsman, whose firm, Norsman Architects, designed the building.
And what an expanse it is. In the mid-19th century, the sons of Philadelphia banker Francis M. Drexel donated the land for Drexel Boulevard to the city. Frederick Law Olmstead conceived the network of beautifully landscaped boulevards that surround the heart of the city – and are at their finest on the South Side – in 1870. In the following decades, stately mansions were built along lushly landscaped boulevards, and Drexel, where Sutherland’s Drexel Parc Lofts is located, is among the best.
Although many of the area’s historic homes have been lost, many prime examples remain along Drexel, a grassy thoroughfare with a landscaped median that, at 100 feet, is wider than many parks. Newcomers to the area are often shocked at the beauty of this hidden gem a short drive south of the Loop, the august greystones that have been lovingly restored, the lush landscaping that keeps the city at bay and refurbished Mandrake Park with its gurgling fountain, the northern gateway to the neighborhood.
Gaps on the boulevard remain, though a number have been filled in with new luxury single-family homes as well as larger developments. Drexel Parc Lofts continues to raise the bar as Sutherland Pearsall converts the vintage building into modern loft condos. Most of the units have one or two bedrooms with one or two baths, while the penthouses have three bedrooms and two baths.
The residences have open floor plans, fireplaces, balconies, large windows, designer kitchens and baths, and hardwood floors in the living areas. The building has a formal lobby, two elevators, a security system and an exercise room.
All of the units are priced under $225,000 with the exception of three-bedroom units, starting at more than $300,000. Off-street parking is provided at no extra cost.
“Affordability has been the key to the success of Drexel Parc,” says Mark Sutherland, who notes that the project is 80 percent sold. “It’s very hard to find one- and two-bedroom units for these prices anywhere in the city, and people have been quick to recognize that.”
Construction of Drexel Parc Lofts is virtually complete, and buyers are moving into the building.
Just south of Drexel Parc Lofts, two more Sutherland Pearsall projects are under construction – all marketed by First Chicago Realty. Drexel Place Condominiums, at 4127 S. Drexel Blvd., is a four-story boutique project with 12 units, all of them two-bedroom two-bath condos. The homes are priced from $269,900, and at press time, six were sold. Delivery is scheduled for late 2005.
“This is a nice intimate building, and one of the big draws has been the fact that it has an elevator,” says Sutherland.
Drexel Square Townhomes, which comprises nine townhomes, is located at 4450-4458 S. Drexel Blvd., in North Kenwood. The three- and four-bedroom units have 3.5 baths and two-car attached garages. Prices range from $380,000 to $470,000, and at press time, about half of the units had been sold. Delivery is scheduled for early next summer.
“One of the nice things about the South Side is the broad range of the market,” Sutherland notes. “You have everything from the very affordable, such as Drexel Parc, to multi-million dollar mansions, and all of it is selling.”
In keeping with this trend, Sutherland Pearsall also is building a 4,000-square-foot single-family home about a mile south of Drexel Parc, at 5459 S. Drexel Blvd., in Hyde Park. The three-story luxury home has five bedrooms, 3.5 baths, a two-car garage, and luxury finishes, priced at $1.1 million.
That sort of price point in the heart of Hyde Park, close to the University of Chicago, isn’t unusual, but Sutherland’s plans for four more luxury homes on the west side of Drexel Boulevard, near Oakwood Boulevard, are perhaps the surest sign of the street’s return to its earlier grandeur. The new houses will have 4,000 to 5,000 square feet and price tags in the $1 million range.