South Loop real estate market summary

Although the South Loop suffered in 2020 from unrest and covid-19, sales continued at a brisk pace
thru-out the year. In the area from Ida B Wells to Cermak & Wells to the lakefront, 850 residential condo’s closed in the prior 12 months, 475 in the last 6 months. 473 units are on the market now and 97 are under contract.

One trend that is dominating sales is the strong preference amongst new buyers for contemporary finishes and upgrades.

The South Loop is very vibrant overall. Although there are a slew of vacancies for residential condos, this will reverse itself as the vaccine hits the area in force. Plenty of big pocket real estate investment firms are betting on this and a recovery in general in the South Loop:

  • Interforum Holdings & Crescent heights are proposing 2 projects, one at 525 S Wabash Ave which would include 2 towers, one 36 stories with 516 apartments, the other 23 stories with 261 apartments and 314 hotel rooms.

  • San Francisco based Iconiq Capital paid $190M for a 56-story, 479 unit luxury apartment tower at 808 S Michigan(Essex on the Park).

  • New York-based 601W is beginning work on a $180M renovation of 801 S. Canal St., a vacant 680,000 sq/ft office building south of the Old Post Office. 601W will convert the building into a multi-tenant office building(Canal Station). Uber, Walgreens, Boots Alliance, PepsiCo and others have all signed leases at the redeveloped Old Post Office.

  • Although there has been legal wrangling, plans for the $7 billion “78” project that will include 4 million sq/ft of office space & 5,000 residential units on a 62-acre site just east of the river continue.

  • The One Central mixed-use project from Landmark Development is proposed for approximately 32 acres between McCormick Place and the Museum Campus. If it goes forward it will include a transit hub, 9,000+ residential units, 1.5M sq/ft of retail, 9M sq/ft of office space, 1.5M sq/ft of hotel space & 350K sq/ft of event space. A virtual community meeting hosted by DPD and Ald. Pat Dowell is scheduled for Jan 25th at 6pm.



1211 S Prairie Avenue unit 5302
Panoramic views of Lake and Skyline
Renovated luxury condo at Museum Park
$1,199,000
Open Sunday Jan 10th 3pm-5pm
Stunning luxury hi-rise with panoramic lake & city views spanning north and south to the horizon. Views include the north & south shorelines, Soldier Field, Museum Campus and Grant Park.

This luxuriously just renovated east facing 53rd floor 3 bedroom/3 bath home is truly magnificent. All kitchen cabinetry has been replaced with contemporary top-of-line white shaker 42' cabinetry. All new quartz countertops and backsplash in kitchen with new undermount sink and Grohe faucet. Breakfast bar kickboard just installed nicely matches new flooring. SS GE Monogram appliances, double convection ovens w/oversize SS hood & 5 burner gas cooktop.

Home has been remodeled using highest quality material and workmanship. All flooring in unit has been replaced with engineered wood flooring, expertly installed.

Expansive open floor plan living/dining area with floor-to-ceiling windows thru-out, very sunny home.

Master bath has been upgraded with new lighting, fixtures and full-size dual mirrors. Master suite features limestone & marble tiles, jacuzzi tub, marble surround shower, double vanity and more. 2nd master suite also includes limestone & marble tiles and luxury marble surround shower. 3rd full bathroom with marble shower is adjacent to living/dining area.

Unit 5302 is one of three units total on floor 53, large storage locker also on 53rd floor. Tandem parking in climate controlled garage is included in price. In building car wash, dog run, bike room, onsite maintenance.

Grand building amenities include indoor/outdoor pools, huge sundeck with outdoor grills and dining, state-of-the-art exercise facility, saunas, locker rooms, impressive lobby, 24 hour door staff and more! Elegant Club room facility spanning the entire south portion of 5th floor features home theatre, pool table, restaurant caliber kitchen, living room & party room.

With unparalleled views of Grant Park, Burnham Harbor, Museum campus & Lakefront this location is unique in Chicago. 18.5-mile lake shore drive bike path access just across Columbus Drive.
855 N May unit F
3 bedroom, 2.5 bath
Extraordinary town home in River West
$649,900 - not on MLS yet
Sunny & pristine 2520 square foot 4 level, 3 bedroom, 2.5 bath townhome in highly sought after St. John's Park community in the vibrant River West neighborhood.

This townhome, with bonus 4th floor room, is located in the preferred interior courtyard, very tranquil yet an urban location.

First level features foyer, generously sized office/family room, guest closet, utility closet and attached two-car garage with significant additional shelving and storage space.

Spacious, sun drenched open floorplan living/dining room enjoys 10’ ceilings, large windows overlooking the courtyard, gleaming hardwood flooring, gas fireplace, laundry and powder room.
Kitchen with breakfast bar and island has granite countertops, 42 inch cherry cabinetry, all new high end SS appliances, pantry space and laundry. Balcony, with gas grill hook-up, conveniently located off kitchen.

Third Floor features spacious master suite with two closets that extend the entire length of the wall.
Master bathroom has dual vanities, soaker tub and separate tiled shower.
Guest Bedroom includes walk-in closet and adjacent second bathroom with soaking tub/shower.

Top floor 17x15 3rd bedroom steps out to private TREX rooftop deck with panoramic city and skyline views. 2nd doorway on top floor leads to rear deck area.

Meticulously landscaped low maintenance private courtyard in front of home consists of Japanese maple, perennials, roses & ground-cover. 

All new window treatments and blinds thru-out. New custom California closet organizers installed in pantry, master bedroom and guest bedroom. Newly installed shelving in guest bedroom. New doors, framing and thresholds on both sides of 4th floor. 

Prime River West location is a short walk to the blue line, fine dining, shopping and expressways. Minutes to the loop. Located within top rated Ogden school district.
1464 S Michigan unit 2008
Exceptional finishes & city views!
Excellent location along Michigan Ave.
$1800/month includes garage parking
20th floor Luxury 1 bedroom condo has been renovated thru-out & is in pristine condition.

Excellent city views with plenty of sunlight flooding in. Hardwood flooring thru-out, stone flooring in bath. Granite Kitchen with SS appliances, undermount sink and breakfast bar. Views west from kitchen and open floorplan living/dining room. Granite surround fireplace in living room.

Balcony is accessible from living/dining room & bedroom and has spectacular views. Large bedroom has walk-in closet & balcony access. Fitness center room adjacent on 2nd floor complete with state-of-art equipment. 24 hour doorman, bicycle storage.

Short walk to CTA, loop, lakefront, Grant/Millennium parks, Museum campus, Northerly Island, Trader Joe's & Jewel. Unique urban setting in dynamic & growing South Loop.

Area features a myriad of dining/shopping and entertainment galore. Tenant pays electricity/internet/cable. Garage parking is included, spot #119.
10 East Ontario unit 3809
Exceptional city views north
38th floor River North Luxury Condo
$1850/month
Large floorplan 995 sq/ft one bedroom, one bath condo located in vibrant River North. Views north
from this 38th floor unit are truly phenomenal.

Entire unit has just been painted with new carpeting installed in bedroom. Hardwood like new in main living/dining area.

Floor to Ceiling windows and spacious living/dining room with city views north. Oversized 150 sq/ft balcony enjoys north, south and east views. SS appliances and granite countertops included in fully appointed kitchen.

This is a full amenity building with large outdoor pool & sundeck, party room, sauna & whirlpool. Fitness area is loaded with state-of-art equipment.

Grand building has elegant lobby area, business center, dry cleaners and 24/7 doorperson. Heated indoor deeded parking available.

Walk to CTA, Michigan Avenue shopping, fine dining, night life, entertainment, city loop and lakefront. Amazing River North area is among the most vibrant Chicago offers. Steps to Whole foods and Trader Joe's.
Bill Wenthen
Broker/Owner

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WDW Properties LLC
1404 S Plymouth Court, Chicago, IL 60605
Office: (312) 663-6035