What to Know About Buying Real Estate in South Loop

May 15th, 2015 by: relatedchicago

Are you thinking about buying a home in the South Loop? Here’s what you need to know about this fast-growing neighborhood and the real estate in South Loop Chicago!

Real Estate in South Loop Chicago

Lofts and Location

South Loop is generally dominated by high-rise buildings that are dedicated to a variety of loft living arrangements. These lofts tend to be both fun and full of character, as many of been converted from old printing and publishing houses, giving many places an industrial style. Brick and concrete are dominant materials on the outside, but timber supports are often used indoors.

Space in this area is very valuable, but if a loft is a little too small for your tastes there are also a number of newer and renovated brick townhouses for you to consider. When it comes to location, you have close proximity to Grant Park, Lake Michigan activities, Shedd Aquarium, Soldier Field, Buckingham Fountain, and more.

Hip and Historical

South Loop has a reputation as a youthful, energetic neighborhood. This is probably because it is so close to a number of different college campuses, including DePaul University, Roosevelt University, and Columbia College.

However, the Loop is also known for its historical value. Not only is it in the center of a variety of museums including the Field Museum, the Adler Planetarium, and the Museum of Science and Industry, it also shows its own history with all of those converted buildings.

Lots of Activity

The Loop continues to transition into a more residential area as more and more buildings are converted to apartments and homes. This is good news for those looking for South Loop condos, but it also means that prices are on the rise – recently homes here have jumped in price by around 50% in just one year! This trend is likely to continue, so the sooner you act the more you may be able to save when it comes to picking out your ideal loft.

To find out more about South Loop condos and what the hottest neighborhoods are, contact a Chicago real estate agent today!

 

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