Wednesday, May 23, 2018

Shopping South Loop town houses, recent sales prices

We viewed a comparable town home for sale near our clients home to gauge pricing.  Many South Loop town homes feature a main floor open layout, two bedrooms on the second floor and either a loft of master suite on the third level.
Our clients own a town house in South Loop and would like to upgrade their space. It is no easy task to find a budget friendly large home in growing South Loop and popular South Loop Elementary School district! Here's a look at recent South Loop town house sales.

Whoa! City living at its best.  This South Loop town home backed up to the CTA tracks. We kind of liked the old school grit!
South Loop Town House Sales 2017-2018
44 South Loop town houses have been recorded as closed thus far in 2018 (Jan 1st - May 22nd). The median price of a sold town home is an eyebrow raising $850,000.  Those numbers were helped by a a couple new construction town house developments that sold units well over $1 million.  The highest  priced sold town house this year is 1935 S Prairie Avenue, Chicago IL 60616 for $1,556,520.  The lowest priced sold town house is 1813 S Clark Unit 4, Chicago IL 60616 for $310,000.

Backyard views South Loop style!
In 2017 over the same months (Jan 1st to May 22nd) 35 town house units sold with a median price of $610,000.  108 town homes sold over the entire 2017 year with a median price of $604,000. Expansion of South Loop elementary and a new South Loop high school will surely increase demand for larger properties.

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