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Hyde Park’s first boutique hotel ready to rise

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The unnamed project was recently granted its construction permit

Image courtesy of GREC

After landing a demo permit last month, a new boutique hotel has been given the all-clear to start construction in Chicago’s Hyde Park neighborhood. Replacing a parking lot and a two-story commercial building at the corner of 53rd Street and Dorchester Avenue, the new building is expected to rise seven stories and contain 98 guest rooms, a restaurant, lounge, meeting space, and a fitness center.

The yet-to-be-named development comes from partners Olympia Companies and Smart Hotels with design duties headed by Chicago-based architecture firm GREC. On-site parking will be handled by a nearby 15-spot lot with a complimentary valet service available to not only hotel guests but to nearby residents as well.

Though still some time away from opening its doors, the upcoming 53rd Street project is already facing a potential future competitor several blocks south at Dorchester and 60th. There, the University of Chicago plans to open a Windy City branch of the “Study Hotel,” a college-oriented chain that opened its first location at Yale followed by a second University City establishment serving both Drexel University and the University of Pennsylvania.