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Anchor Lofts

River North is one of the most popular neighborhoods for young professionals looking to live in the heart of the action. The area offers a number of new condo and loft developments, priced for both the first-time buyer and those looking for the best luxury units.

One excellent loft development available in the heart of River North is Anchor Lofts. These luxurious lofts are located at 215 West Illinois Street, just blocks from many of the most important Chicago landmarks. Anchor Lofts is one of the original loft developments in River North. The building was built in 1973 and converted to lofts in 1979.

Buyers have several units to choose from at Anchor Lofts. There are a total of 18 units in the six-story building. Prices start at $400,000 for a large one-bedroom unit and range up to $680,000 for the largest two-bedroom unit.

One unit currently listed on the market is a two-bedroom and two-bath loft offering 2,200 square feet of living space. This unit is priced at $680,000. Monthly assessments run $536 for this unit.

Residents of Anchor Lofts enjoy a number of excellent amenities. Each loft comes with maple hardwood floors, custom cabinets, an appliance package, and washer and dryer hookups. Kitchens also come with a large island for gourmet cooking.

Each loft also has expansive windows that give plenty of natural light. Residents can enjoy a gas fireplace during the winter. Indoor, heated parking can also be purchased.

Residents can also entertain friends or enjoy a quiet afternoon on the rooftop deck. The deck has excellent views of the Chicago skyline.

Residents of Anchor Lofts enjoy one of the premier locations in all of Chicago. The best shopping, restaurants, and nightlife are all within just minutes of home.

Residents will also enjoy the convenience of living within walking distance of work. The downtown Chicago business district is just a few minutes from home, making the daily commute a thing of the past.

Shoppers can head over to the Magnificent Mile for some of the best shopping in the country. Find the best designers and brand names along this world-famous stretch of Michigan Avenue.

If you’re in the market for a new loft or condominium on the Near North Side, keep up to date with the latest statistics coming out of the real estate market for the neighborhood.

According to the Chicago Association of Realtors, River North and the Near North Side continue to be the most active market for condos and lofts in the city. However, sales have started to drop off due to problems in the mortgage market and a general downturn around the city.

A total of 847 condominiums were sold during the third quarter, a 5 percent decline from the same period last year. It is also the fourth consecutive year that sales have dropped in the neighborhood.

The inventory of unsold condos and lofts on the market grew during the third quarter. If you’re selling your property on the Near North Side, it will take you an average of 119 days, or nearly 4 months to find a buyer. This is a 22 percent increase from last year, and a sign of a slowing market.

However, perhaps due to the number of new luxury projects for sale in the area, prices were up yet again during the third quarter. The average sales price was at $526,148 for the quarter, 5 percent higher than the same period last year.

The popularity of the Near North Side and the number of luxury condominium projects underway should keep prices from falling. However, buyers may find excellent deals if demand doesn’t absorb the supply of unsold condos and lofts sitting on the market.