Unique Homes May Take Longer to Sell: Loop Neighborhood Update

Begin your Chicago Loop home search here.

 

Loop

Housing Type: Condo

As the balanced market we've been watching continues in the Loop a few homes have taken a very long time to sell, but most are selling within three months. One home that took 920 days to sell was one of the last units to sell in The Legacy at Millenium Park, a new high-rise that was developed in the last 6-10 years. The median sales price for condos was $398,000.

 

Price Range: $400,000-$800,000 

Price Range: $800,000+

Loop

Housing Type: Townhome

The two townhomes that are available could hardly be more different. One is a 2b/3.1ba built in 1980. The home is very clean, but most of the fixtures are quite old. A buyer will most likely want to update the home, gut the kitchen and maybe a bathroom or two, before moving in. The other townhome is the huge 4b/4.3ba that was built by combining 5 townhomes. Both of these properties are going to attract a very specific buyer and, therefore, may take extra time to sell. The median sales price for townhomes in the Loop was $435,000.

 

Price Range: $400,000-$800,000 

Price Range: $800,000+

 

Begin your Chicago Loop home search here. 

 

*In this blog series we focus on one of twenty neighborhoods in Chicago, each day, and provide charts to give you a brief update on the activity that neighborhood has seen over the past month in a variety of price ranges for Single Family Homes, Townhouses, and Condos, as available.

When looking at these charts please keep in mind that not every housing type is available in every neighborhood (the Loop doesn't have houses) and some homes compete within even smaller subsections than these, meaning we can dig even further in this data. Please let me know if you would like a personal assessment of your target market.

 


For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!

 

Terri Buseman

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • November 12 2017 07:06PM

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