West Loop condominium sales report for 2013 YTD
The West Loop Chicago real shifts from recovery to expansion mode for the condo market in 2013. Inventory remains low, with only 58 condos active as of 12/16/2013 in the entire West Loop market. With 490 condos sold in 2013 we have barely 1 months worth of inventory. If a condo is correctly priced, you can almost expect to sell within weeks, maybe even days. Multiple offers is not unusual. The average market time was 54 days (as compared to 119 days in 2012), the median market time dropped from 46 days in 2012 to 19 days in 2013. There was not much new construction in the West Loop in 2013 but the big project CA 23 is doing very well, now in their 3rd phase. They offer 3 bedrooms and 1900 sq. ft. CA23 is located at located at 1124, 1128, & 1132 W. Adams.
The West Loop is also offering many more luxury condos than they have traditionally offered in the past. Google is also moving into the West Loop with their new Chicago headquarters at 1000 W. Fulton Market, creating a lot of interest in the Fulton Market area of the West Loop.
Number of current Active Listings: 58
Highest Priced Listing: $999,999
Number of Sales this year: 490
Highest Priced Sale this year: $1,350,000
Contingent Sales as of 12/17/13: 32
Pending Sales as of 12/14/13: 89
Lowest Priced Sale this year: $108,000
West Loop Real Estate Market Report Condos 2013 YTD
Let’s check on the 2013 activity in a couple of West Loop buildings
1000 W. Washington Built in 1894 & 1902 this building is the former home of the American Biscuit Co. and in 1995 the building was transformed into 180 units with 160 different floor plans, from 850 to 5000 sq. ft. 1000 W. Washington has some of the most unique and interesting spaces in the West Loop.
1000 W. Washington Market Report YTD December 2013
Skybride at 737 W. Washington at 39 stories tall is the tallest building in the West Loop with 237 units. A unique feature of the building is each floor has 8 corner exposures and because it is located along the Kennedy expressway guarantees unobstructed east views of the city.
737 W. Washington Market Report YTD December 2013
Find Condos for Sale in Chicago’s West Loop
If you are thinking about buying a condo in the West Loop, you need to know what’s going on (or what 2014 has coming) in the neighborhood. You also need to learn about the views, the floor plans and what you get for your money in each building.
If you are interested in the current inventory that is on the market in Chicago’s West Loop, currently 58 homes, you can find that information by viewing our “live in the West Loop page” and look around, if you sign up, you can be notified as soon as new properties that fit your criteria hit the market. If you have questions about any of the listings please contact us, we know the area, views, and floor plans in most buildings.
Do you have questions about condo sales prices in the West Loop?
We can help you. We specialize in the Chicago neighborhoods like the West Loop, Lincoln Park, River North, and the luxury condos in downtown Chicago. If you would like a personalized Comparative Market Analysis for any West Loop condo building or any building/neighborhood just ask. We would be happy to help you purchase a West Loop condo.
The compilation of listing and market data information is provided by our local MLS system here in the Chicago area (MRED). All information provided is deemed reliable but is not guaranteed and should be independently verified.
|The Hancock Group with @properties specializing in downtown Chicago Real Estate including The Gold Coast, South Loop, West Loop, Streeterville & Lincoln Park for over 10 years. Call/Text/Email Us today at 312-296-9300, or Find us on Google+|