OAKLAND — More expensive real estate could be coming to the Drexel Boulevard corridor.
Developer John Jones is pitching a single-family home and a pair of rowhomes on city-owned vacant lots located at 3975, 3981 and 3983 S. Drexel Blvd. Jones unveiled plans at a recent North Kenwood-Oakland Community Advisory Council meeting.
Jones has been quietly building in the community for the past 20 years, his projects including a set of townhomes near 48th Street and Cottage Grove Avenue. His most recent work involved another set of single-family homes on the west end of the boulevard.
The City Council approved selling the lots to Jones for $250,000 earlier this year. Jones said he will pay for the project out of pocket.
Both rowhomes will have 3,500 square feet of space, with four bedrooms, three and a half baths, a two-car detached garage and a design that will complement the aesthetics of the neighborhood, Jones said at the meeting.
The 4,000-square-foot, single-family home will have five bedrooms and four and a half baths, Jones said. All of the homes will have three stories, a basement and ample backyard space, Jones said.
Ald. Sophia King (4th) previously told Block Club she supported the developments. Residents at the meeting also favored it but said they worried about the potential sale prices.
Jones said at the meeting he had tried to keep the prices low, but the cost of materials drove up expenses. He said prices for the rowhomes could start around $800,000. The price of the single-family home has yet to be determined.
Other rowhomes on the block are on the market for $799,000, and single-family homes are going for $675,000, according to Redfin.
The project requires approval the Chicago Plan Commission and the City Council.
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