I was also raised in Hyde Park,and grew up just down the street from U of C. i have very, very fond memories of attending concerts in Mandel Hall, pizzas at the Medici, and riding my bike through the quadrangle, which was beautiful all year around.
The building at 5:06 is a very old apartment building form the time of the 1893 Columbian Exposition. Originally built to house construction workers of the exposition, they have been continually occupied since then. Mansions come and go, but humble workmen's apartments remain!