Thursday, June 17, 2010
Spotlight on the West Loop
Once a meat packing and industrial district, it may be the place in Chicago where lofts were invented or at least perfected. Wonderful industrial space turned into lofted living space and then the wave of building throughout the 90’s and early 2000’s brought soft lofts and new construction
The housing market in this neighborhood tends toward attached single family (townhome, duplex, condo) with average prices holding pretty steady. Over the last 2 years the price has dropped only slightly (4.1%) in what has been a generally tough housing market. However, they have seen a longer market time (193 days this June versus 123 days on market 2 years ago). Patience is required.