|I look forward to high-rise life when I'm an empty nester! South Loop is a popular destination for those that want to experience Chicago's cultural amenities and lakefront. (All photos Eric Rojas, Broker, Kale Realty and VHT.com)|
Our latest listing at 1101 South State is under contract after multiple offers. The building features amenities including 24/hr door staff, outdoor pool, garage parking, event room and sun deck. The location is on the doorstep of Chicago's Museum Campus.
|The views from our latest listing at 1101 S State Street, Unit 2102, Chicago IL 60605 |
South Loop condo sales January 1st and August 27th, 2020
South Loop is dominated by high-rise buildings. Considering the nature of the coronavirus pandemic it is interesting to see how attractive the high-rise condo market has been this year. 405 condo (attached units and attached town houses) have sold thus far in 2020. The median price of a sold condo is about $380,000. Unit sales are down year to year by 18% while median price was about even. In 2019 over the same period 495 condo units sold with a median price of about $372,500. I think many would have predicted a worse outcome when the shelter in place order went into effect.
Fun Fact: 1201 S Prairie Unit 5301 is the highest priced sold condo at $1,620,000. The lowest priced sold condo is 345 East Eastgate Place Unit 305 for $125,000.
|Pool life! 1101 S State along with several other South Loop buildings offer the amenity lifestyle in a central location. |
After a spring pause the Chicago market had a hot June and July despite the pandemic. Early this year I was predicting a relatively slow fall due the upcoming national election. I think the recent civil unrest, lingering pandemic and the election will ultimately hamper over-all unit transactions for the remainder of the year.