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Union Park Lofts

The Near West Side continues to offer some of the most innovative and modern loft developments in the city. The area has gone from a forgotten corner of abandoned warehouses to one of the hottest neighborhoods in Chicago.

One incredible loft development on the Near West Side is Union Park Lofts, located at 1327 W Washington. This five-story building offers a total of 32 live and work units. Buyers can choose from several units ranging in size from 1,200 square feet to 2,100 square feet of living space.

There are currently several loft spaces available at Union Park Lofts. The largest unit available is a 2,100 square foot loft offering two bedrooms and two baths. The unit comes with one outdoor parking space, and is priced at $474,900.

Another penthouse unit is also listed on the market at $499,999. This loft also offers two bedrooms and two bathrooms, with one parking space included. A work space is also available at Union Park Lofts. The 1,200 square foot lofts has two offices, a conference area, and is located on the first floor. This unit is priced at $330,000.

Residents of Union Park Lofts enjoy an excellent list of amenities. Each loft comes with an open floor plan, floor-to-ceiling windows that let in plenty of natural light, and hardwood floors. Each unit also offers an appliance package and granite countertops. Penthouse lofts come with a wood-burning fireplace.

The building offers a rooftop deck, perfect for getting to know the neighbors or entertaining friends while enjoying incredible views of the downtown Chicago skyline.

Residents also enjoy living in the heart of one of the most active neighborhoods in the city. The Near West Side is home to some of the best restaurants, bars, clubs, shopping, and art galleries.

The neighborhood also offers easy connections to downtown Chicago via CTS buses and trains. The nearest El train is just three blocks away on Ashland and Lake. Downtown is also within walking distance, making the daily commute a thing of the past.

Several parks in the neighborhood allow residents to enjoy fresh air and escape from the noise of the city. Union Park and Skinner Park are popular parks located within two blocks of home.

If you’re in the market for a new condominium on the Near West Side, keep up with the latest news and stats coming out of the real estate market to make the right decision for you and your family.

After several years of increasing sales, the neighborhood has seen a sharp drop. A total of 383 condos and lofts were sold in the neighborhood during the third quarter, a 31 percent drop from last year and the lowest total for the quarter since 2002.

Despite the sharp drop in sales, the inventory of unsold condos on the market remained steady during the third quarter. The average turnover time for units for sale in the area was up just four days from last year, and now stands at 149 days.

The steady inventory numbers helped prices in the area continue to climb. The average sales price during the third quarter was up 11 percent from last year, and could continue to climb if the supply of units on the market remains steady.

However, if demand continues to drop in the area, then buyers may start to see lower prices on the Near West Side.