Twenty years ago the 57xx block of McPherson was one of the most challenging in our neighborhood. Directly south of new construction at Kingsbury Square, it stood apart. Half the properties were vacant and blighted and there were empty lots as well. The Jaffee Group, which had completed Kingsbury Square, moved forward with a plan to remake McPherson and make it a desirable living destination. The goal was to provide infill housing that shared the same set-asides as the existing dwellings. The housing would be market-rate and enjoy contemporary amenities.
With the support of 26th Ward Alderman Irving Clay, work began. The new homes drew buyers and others rebuilt existing 2 family units and turned them into condos.
The Great Recession of 2008 put a stop to the building and buying. The Jaffees (Mark and Martin) were able to outwait the downturn. Today the last four new homes are under construction. Two are already pre-sold.
Mark Jaffee showed me 5798, a corner unit with special features. Because it is on a corner, it is 2 feet wider than its counterparts on the street. It will also have geothermal heat. Pylons have been extended 200 feet down. The house has an open floor plan on the 1st level and 3 bedrooms upstairs. The purchasers, two physicians, are building a basement bedroom suite for visitors. Other buyers have done this as well: these new homes have an entrance/egress window in the basement.
The base price of these new homes is $320,000. The block now has distinctive entry markers, thanks to Alderman Frank Williamson. Jaffee told me that his company would like to build several houses on Laurel, across from this redeveloped street.
