Chicago’s West Loop real estate has been dubbed as one of the “city’s hottest housing markets” over the last few years. Once the historic home of the city’s meatpackers, flower-markets and manufacturing, these warehouses now sit among sleek West Loop new construction condos and converted loft style residences from the last development boom that struck in the 1990s and early 2000s, when Oprah was queen of the neighborhood. For buyers looking for luxury residences in Chicago’s hottest neighborhood, luckily there are numerous West Loop new construction condos for sale.
The current new development in the West Loop is a healthy mix of residential condos & apartments and the commercial office buildings looking to attract tech companies and other tenants who may be looking to relocate from the suburbs and the Loop business district. With this influx of companies and workers, a surging demand for housing has created an opportunity for condo developers in the city to fill this void with new homes. Approximately 180 new construction residential condos are slated for delivery in the West Loop by 2022.
3-4 Bedroom units move in ready! Only eleven units remain.. including the Penthouse!
Situated between Union Park and Skinner Park (with the recently added $4.3mm Michelle Obama Athletic Complex) on Monroe is EVEQ, 6 N Bishop a 32 unit 3-4 bedroom building designed by Sullivan, Goulette & Wilson with great light and outdoor space. Only eleven units remain.
This brand new construction building is a short walk from Skinner Elementary, one of the top rated Chicago Elementary Schools in the West Loop.
Despite 2020s lock-down: West Loop was a shining star of a neighborhood – with just over a third (9/24) of all restaurants with a Michelin star in Chicago located here. The Michelin Guide – which you can dive deeper into the history in this documentary; is in fact a guide by the French tire company which was created in the 1900s to encourage demand for cars (and thus tires) for international consumers. They eventually created a rigorous rating system which review restaurants based on 5 criteria : “One star signifies ‘High quality cooking worth a stop’, “two stars are ‘Excellent cooking worth a detour’, and three stars,” (far and away the best rating), “Exceptional cuisine worth a special journey’.” (That always makes me smile). There are also Bib Gourmands – which are the more affordable and not as fancy restaurants but the guide thinks deserve an honorable mention of sorts : “and gives diners a chance to eat well without breaking the bank.” according to Escoffier.
Mark my words: this will be the new IT place to live in the West Loop.
If you loved Hayden, you might be obsessed with Embry, a 15 story-still being built-new construction condominium with a total planned 58 units, located in the heart of West Loop – on an unassuming side street off Madison located at 21 N May with sweeping unobstructed city views AND amenities. This building will feature 24-hour door staff, indoor/outdoor fitness center, putting range and Luxe Owners Lounge.
Delivery is expected by 2022 by Sulo Development and interiors curated by Kara Mann.
These units could be confused for the finest boutique hotel featuring modern refined elegance and upgraded appliances by Miele, Subzero & Wolf appliances and will offer elegant details such as arched doorways, extra-wide wood plank floors, Atelier Jouvence fireplaces, high ceilings, wide hallways, thoughtfully designed 2,3 & 4 bedroom floor plans for indoor and outdoor living, ranging from 1,828 – 5,187SF . Oh, also, let me know if you want to know about the penthouses…
Great news! It’s spring & prices continue to climb!
The West Loop Real Estate prices continue to show a gain in median sales price according to Infosparks, data provided by the MLS – for all single family homes in the West Loop. In January and February prices stayed relatively flat but finished seven thousand dollars higher overall and West Loop Gate or 60661 (see below for reference) increased around $22k – West Loop Gates sales prices are on the up! Take note!
Enjoy summer 2021 sipping your morning beverage of choice in your personal city retreat with #TheWorldsBestCity as your backdrop. Custom created, including the finest appliances and fixtures in the kitchen and baths curated by Impact Design.
In an effort to help Chicago get out of the redand into the black, Mayor Lori Lightfoot’s administration recently passed a new ticketing program onto Chicago drivers. Get caught going 6 MPH over the speed limit: and you will receive a $35 fine. If you are going 11+ MPH in one of these speed traps you will be on the hook for $100!
Median Sales Prices are UP from 2019 in the West Loop
West Loop Real Estate (zip codes 60607 and 60661) median sales prices increased year over year proving prices are staying strong despite one of the most unusual of years, driving Chicagoans away for a few reasons.
While Chicago has experienced an exodus of people taking advantage of new “work from home” allowances, a new wave of future Chicagoans are interested in moving to our neighborhood, some from bigger cities looking for a change of pace or hoping to be closer to family and even those looking to move to the city from the suburbs to snag a city unit for a great price.
Click here to see the live data from InfoSparks for West Loop Real Estate; Median Sales Data based on zip codes 60607, 60661 West Loop, Chicago and Entire Chicago MLS area.
Even as we continue to endure a pandemic, Fulton Market will remain a hotspot for development. Armed with incredible interest rates: developers are betting this market will bounce back and are investing in new projects all over the West Loop, from Hotel projects: FMK (Fulton Market Kitchen) which will be redeveloped into a hotel with nearly 300 rooms – to the new construction residential condos by Belgravia: CA6 being built where Hubbard Street Dance Studio once was on Racine near Target West Loop – and Alderman Burnet has even removed a 2014 regulation which will now allow residential development north of Lake street: The Fulton Market Innovation District Update.
The spring market seems to have started early as we have been VERY busy this month with both rentals and sales. Rental prices have drastically dropped as owners are successfully attracting new tenants and buyers have incredible opportunity to stretch their mortgages further with the lowest interest rates ever.
For help buying, selling, renting or investing
in real estate in the West Loop,
Please contact Stephanie at 312-618-1251 or email@example.com
Stephanie is a long time Chicago area resident with extensive knowledge of the West Loop & Fulton Market neighborhoods. Having witnessed the rapid change of the neighborhood for many years, Stephanie can effectively help clients with all of their real estate needs in the West Loop, Fulton Market & nearby neighborhoods. Learn More »