McCaffery Awarded Property Management of Landmark Hyde Park Bank Building
McCaffery Interests’ Property Management division was awarded the third-party management assignment of Hyde Park Bank Building, a 10-story, 109,481-square-foot, landmarked building at 1525 E. 53rd Street in the Hyde Park neighborhood of Chicago. McCaffery now oversees all management duties at the property including operations, accounting, lease administration, and tenant services. In addition, McCaffery Brokerage LLC now leads the retail and office leasing of the building.
“We are excited for the opportunity to manage the iconic Hyde Park Bank building and apply our experience in operating and maintaining landmarked assets. McCaffery has strong ties to the Hyde Park neighborhood and its retail landscape,” said McCaffery President, Ed Woodbury. “We look forward to bringing our expertise and exceptional service to Hyde Park Bank’s ownership and the tenants of the building.”
The Hyde Park Bank Building is home to Hyde Park Bank, Katsaros Pharmacy, and the Hyde Park Chamber of Commerce, as well as nearly 50 office tenants. Since obtaining the assignment, McCaffery has focused on improving the building street experience by securing leases for the remaining vacant ground floor retail, currently amounting to more than 7,000 square feet. The building also offers more than 78,000 square feet of vintage loft office space, ideal for neighborhood service providers and small business professionals.
Designed by Vitzthum, Karl and Co. and completed in April 1929, the building’s two-story main banking hall was renovated in 2005 by Chicago’s Florian Architects. The building was landmarked by the Commission on Chicago Historical & Architectural Landmarks in 2008. Once the largest banking facility outside of the Chicago Loop, the building interior still features its two-story banking hall, an expansive walk-in vault, and grand staircases framed by intricate bronze screens. Outside, the building’s granite-clad ground floor and soaring Bedford limestone exterior continue to serve as a visual landmark of the neighborhood.
McCaffery is a full-service commercial real estate firm with mixed-use, retail, office, and multi-family assets under management in Chicago, Pittsburgh, Denver, and the Washington D.C. Metro area. The company previously served as property manager of The University of Chicago Commercial Real Estate Operations portfolio for more than a decade.
For additional information about leasing retail or office space at the landmarked Hyde Park Bank Building, please contact McCaffery Leasing Director Andrew Macafee at (312) 784-2844 or amacafee@mccafferyinc.com.