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24-unit mixed-use property in Hyde Park has been sold to an East Coast investment group for $9 million, or $375,000 per apartment. The buyer was not disclosed, but the sale highlights growing interest in the area near the highly anticipated Obama Presidential Center. Estia Properties, represented by Interra Realty's Joe Smazal and Mark Dykstra, brokered the deal.

    The five-story building, built in 1907, features renovated apartments with updated kitchens, bathrooms, laundry facilities, and individual HVAC systems. The property also includes two commercial spaces occupied by Philz Coffee and Ivy Leasing & Management, as well as a 16-car parking lot.

    Investor interest in Hyde Park is driven by the Obama Center's expected impact on the area, which will transform the neighborhood and boost demand for nearby properties. While larger apartment buildings are scarce in the area, Hyde Park continues to attract investors seeking growth potential. "Hyde Park is a hard market to break into because it's such a good place to invest," said Doug Imber of Essex Realty Group.

    However, the surge in interest from real estate prospectors and multifamily investors has prompted South Shore residents to call for housing restrictions around the center. The Obama Center will feature a museum, library, and educational center on its 20-acre lot.