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1215 S Prairie Ave

The Chicago Loop is one of just a few neighborhoods in the city that continues to see strong sales of condominiums. The area attracts professionals, retirees, and families looking to enjoy living in the heart of downtown.

Many major developments are currently underway at the south end of Grant Park. One of the newest is located at 1215 South Prairie Avenue. This 62-story all glass tower is close to completion, and offers a number of floor plans for buyers to choose from.

There are currently several units still on the market. A three-bedroom and three-bath condominium is selling for $2,740,500, with parking available for an extra $35,000. Another unit on the market is a three-bedroom condo priced at $2,795,500.

Residents enjoy some of the best amenities on the market at 1215 South Prairie Ave. Each unit comes with a unique floor plan with floor-to-ceiling windows that offer some of the best downtown and lake views in the city.

Kitchens come with a designer appliance package, island, and granite countertops. Residents also enjoy hardwood floors throughout the main living areas.

The location of these luxury condos is one off the main draws for buyers. The South Loop is growing as new luxury developments bring people back to the neighborhood. The area is constantly offering something new for residents, with new shops, restaurants, and nightlife opening every day.

Commuters can get to anywhere in Chicago in just minutes with the convenient Metra and El stops located just two blocks away. The area is also well served by CTA buses along State Street and Michigan Ave.

The neighborhood is also home to the Field Museum of Natural History and John G. Shedd Aquarium, perfect places to entertain the kids. Soldier Field, home to the Chicago Bears is also within a few blocks of home.

If you’re in the market for a new condo in the Chicago Loop, keep up to date with the latest news coming out of the real estate market in the neighborhood. The Chicago Loop has seen a marked increase in sales during the year, bucking the trend for the rest of the city.

A total of 401 condominiums were sold in the loop during the third quarter of 2007, an 80 percent increase from the same period last year and the highest total for the third quarter in more than 16 years.

Condo developers and owners are selling their units faster than in any other major neighborhood in the city. The average turnover time now stands at 62 days, a 25 percent drop from the same period last year, and could continue to drop as demand for downtown units increases.

The average sales price jumped 39 percent as investors and well-heeled residents focus on the neighborhood as sales drop around the city. The average sales price for a condo in the Loop now stands at $470,000.

Prices could continue to rise if demand for condos remains strong in the neighborhood. With rents moving up and vacancy below five percent, condos in the Loop continue to be attractive to investors and permanent residents.