chicago-condos Stephen on 30 Aug 2007 05:33 am

South Loop condos add modern flair to neighborhood

The South Loop continues to see heavy development in the area despite a recent downturn in the local real estate market. 

This neighborhood in downtown Chicago is currently seeing a drop in sales and prices in the area, with many new condos and lofts coming on the market. 

According to the Chicago Association of Realtors, there were a total of 211 condominiums sold during the second quarter of 2007 in the Loop section of Chicago.  This is down 20 percent from the second quarter of 2006. 

Turnover times in the neighborhood are up to 108 days, more than 30 percent more than during the same period in 2006. 

There are many new condo projects underway in the neighborhood that will add to the existing supply of properties. 

Azure Tower is a luxury development under construction in the South Loop.  Located at 1330 South Michigan Avenue, this modern tower will add another 130 units to the market, ranging in size from 700 square feet to over 1,600 square feet. 

Buyers can choose from one and two bedroom units, all with excellent views of the downtown Chicago skyline and Lake Michigan. 

The South Loop offers many Luxury Chicago Condominiums for young professionals and families looking to live close to downtown.  

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