Chicago's "Newest Old Neighborhood"

-By Alysha Cryer

As the old walls of Maxwell Street come tumbling down, out of the rubble arises Chicago's next great neighborhood. Located just east of UIC, University Village is part of the school's vast South Campus expansion, which will not only expand the school's campus, but will also create a new neighborhood on top of the old one.

Replacing street-corner blues and the smell of Polish sausages is construction racket heralding future condos, town homes, student housing and strings of retail shops. "We've created a whole new neighborhood integrated into an old neighborhood, seven minutes from the Loop and connected to a great university," says Richard Stein, president of Mesirow Stein Real Estate Inc.

"What the private-public partnership does is anchor the south side of campus, and become a bridge between Pilsen and Little Italy," Stein says. "It creates more of a residential life for the students and creates an opportunity for the faculty to come live here."

2-bedroom condos in University Village

Mark Rosati, the UIC director of public affairs, says the new South Campus is also part of the continuing efforts to meet students' needs. "We had a waiting list of almost 800 students who wanted on-campus housing," Rosati says. [At one point], we had about 10 percent of the 25,000 students living on campus. Our goal is to have 25 percent by 2012." The residential phase of the new construction will add nearly 930 town homes, condominiums, and lofts ranging from about $165, 000 to $700,000.

The new expansion area is bounded by Roosevelt Road on the North, 15th Place on the South, Morgan Street on the West and Union Street and the Dan Ryan Expressway on the East.

The idea is to create an urban environment reminiscent of its past and one that accommodates the influx of affluence. Complete with a fountain at its main entrance, the neighborhood also contains tree-lined streets, expansive landscaping and three new parks, all in an effort to create more open green space rarely found in older Chicago neighborhoods.

This idea of a new community behind a university is what drew Rafi and Jennifer Arbel to University Village, where they purchased a town home. "I like the idea that the developers are building an entire community from the ground up," says 36-year-old Rafi Arbel, an attorney with a legal research firm.

3-Bedroom Townhomes in University Village.

The Arbels, who have been married for more than five years, purchased a 2,800-sqare-foot town home, which "offers a lot of space at a great price in a great location," Rafi says.

The new condos and town homes come in a variety of sizes and floor plans to choose from. Large indoor space, high ceilings and panoramic window views are characteristic of the historical lofts in the area. Larry D. Justice, project executive for the South Campus Development Team, believes University Village has all the potential to become a certified-residential hot spot. "Within 10 years, South Campus will become a whole new Chicago neighborhood as recognizable as Lincoln Park or Bucktown," says Justice.

Since 1985, UIC has invested $40 million in the development area. Between now and 2009, more than $525 million will be invested in the University Village project.

Condos have 1,2, or 3 bedrooms, 1 to 2-1/2 baths. Sizes range from 671 to 2,200 square feet. Prices start at $165,900. The town houses have 3 bedrooms, 2-1/2 or 3-1/2 baths and 2,154 to 3,000 square feet of space. Prices range from $415,000 to $700,900.

To make the buying process easier, University Village has created a website that allows buyers to view their floor plan and choose their selections. Visit www.universityvil.com or call 312-421-4300 for more information.

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