(Courtesy Google Streetview)
The University of Chicago acquired a mansion at 5725 S. Woodlawn Avenue for $3.4 million on October 31. The property is located adjacent to the Hillel Center and near the Institute of Politics.
In recent years, the University has built up a significant commercial real estate portfolio throughout Hyde Park and Woodlawn, backing and acquiring hotel and development projects ranging from the Woodlawn Jewel-Osco to the Harper Theater. This acquisition comes on the heels of the University’s recent purchase of the Lutheran School of Theology at Chicago and McCormick Theological Seminary campuses.
According to TRD Real Estate News, the first occupants of the property, which was built in 1900, were Cora Howland, daughter of former Chicago Mayor John Roche, and her husband, George Howland, one of the University’s first teaching professors. Later, in the 1970s, the home was owned by Antonin Scalia, who taught at the law school before his appointment to the Supreme Court.
The University’s $3.4 million payment for the mansion is significantly above the property’s $1.07 million tax valuation by the Cook County Assessor. The mansion is located on a stretch of Woodlawn Avenue where many historic properties have been converted into University facilities.
In a written statement to The Maroon, the University did not specify how exactly it plans to use the building.
“The University owns and maintains multiple properties in that vicinity for University offices and programs, including the nearby Institute of Politics, the Department of Comparative Human Development, and the Neubauer Collegium for Culture and Society. The future use of the building at 5725 S. Woodlawn will likewise be… in support of the University’s educational mission.”