Revisiting the South Side resurgence

In the heady days of 2006 buyers were closing on units at the Courtyard on the Park, in the 5900 block of S King Dr, at prices ranging from the $170s to the $240s. And we were featuring the development in an article titled South Side resurgence.

John Kos and his fiancée Brenda Walker were renting in Lake View before they bought a three-bedroom unit at developer Foreit Properties’ Courtyard on the Park, a converted apartment building at 5936 S. King Drive. The 28-unit development is one of a growing number of condo projects along august King Drive and has views of the tennis courts in Washington Park.

The couple paid $219,000 for the condo, which included parking, and they bought a second parking space for $7,000.

“We couldn’t touch this place for under $450,000 in Lake View,” Kos says. “We qualified for a big mortgage but didn’t want one.” The couple says they’d rather have money remaining after mortgage payments to spend on things like season tickets to the Goodman Theater.

Units in the development have sold more recently in the low $20s and $30s, and a 2-bedroom, 2-bath unit that previously sold for $200K is currently under contract at a $9K asking price. The listing says the unit is waiting for a buyer’s “personal touches.” Those personal touches would apparently include drywall.

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