The South Loop is located just minutes away from Chicago's lakefront attractions and the downtown business district. It's home to great dining, recreation, music venues and shopping.
The South Loop extends from Congress Parkway on the north to Cermak Road on the south. It's eastern border is the lakefront. Much of it's western boundary runs along Interstate 90/94 and adjacent rail lines. The South Loop is served by postal codes 60605 and 60616.
Within The South Loop, the micro-neighborhoods of Printers Row, Central Station and The Prairie District offer a variety of condo living options. From lofts to mid-rise boutique condos. From the high-rises that line Michigan Avenue to towers in semi-private developments overlooking Lake Shore Drive.
Market Activity
This report reflects activity through April 2015, the last full month of available data as of date of publishing. You can search for and compare real time market activity for condos in The South Loop here.
South Loop inventory levels have dropped dramatically in the last 3 years. Back in January 2012, there was a staggering 2 year supply, (almost 27 months), of inventory. Since December 2013, inventory levels have consistently hovered around 3-4 months, favoring a sellers market.*
April 2015 inventory levels in the South Loop are remaining steady at the 4 month mark.
The chart below shows that from April 2014 to April 2015, South Loop condos for sale could expect to be on the market for an average of 72 days. Closed sales averaged 98% of original list price.
The information in this report is an aggregate of condo sales in the South Loop. If you are planning to sell your South Loop condo, please contact me at 312-725-4498 or kwinters@koenigrubloff.com for a personalized market analysis of your home.
If a move into a new South Loop condo is on your 2015 wish list, please contact me at 312-725-4498 or kwinters@koenigrubloff.com so we can discuss your specific needs.
*Five (5) months of inventory generally reflects a balanced market. Inventory levels less than 5 months indicates a seller's market. Inventory levels of more than 5 months tend to favor a buyer's market.
All information deemed reliable but not guaranteed.
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