Harper Court opened after years of planning and was sold within a week to the University of Chicago.
Top brass from the University of Chicago, Vermilion Development, the City of Chicago, Hyatt Hotels and others that helped fund it cut the ribbon on the $139 million development on Nov. 8.
The university first bought the old Harper Court development in May 2008 for $6.5 million. It announced shortly thereafter that three of the four buildings would be razed to make way for a large-scale, mixed-use development.
“The university’s contract with Harper Court Partners allowed for the university to purchase the property, including Phase II, for approximately $98 million,” said Calmetta Coleman, director of communications for Civic Engagement at the U. of C.
The university purchased the property from Vermilion Development, JFJ Development and Canyon Johnson Urban Funds.