What is a Loft?

In Chicago, the most common form of loft is the most upper story in a building, located directly under the roof (there is no attic), either used for storage or for living. Lofts generally have very high ceilings, large windows, and concrete floors and ceilings. This type of construction allows easy modification of the unit (i.e. "lofting" or building storage or living areas above the concrete floor). Some of the biggest advantages of Chicago lofts are that they come in just about every size possible, are located in many areas of the city - giving you the opportunity to be closer to an area of interest, and they just look cool! For the past ten years, Chicago has created an additional 5,100 loft unit developments.

Chicago lofts are great for students because of their interesting design, customizability, and because for about $1000 you can get a loft with a large kitchen and bath. Due to the fact that Chicago lofts are everywhere a student has a very good chance of renting a loft that is really close to the university, cutting down transportation costs. With various areas of Chicago going through a real estate revitalization, you are very likely to find a loft that matches your needs and expectations. In Chicago, lofts are available in almost every neighborhood, whether you want to live downtown, Lincoln Park, River North, West Loop, South Loop, or Wicker Park, to name some popular examples.

Typically, lofts have higher ceilings than condos or apartments, usually 12 - 16 feet (or even higher) and they consist of a wide open space which may or may not be partitioned into rooms, large windows, and unique finishes. These characteristics make lofts much different from your ordinary traditional apartment or condo.

Some of the most outstanding advantages of lofts in Chicago are that they are located near downtown, have high ceilings, providing an open an airy atmosphere, modern design and usually less expensive than an apartment with the same size.

As you can guess, the prices for Chicago lofts vary a lot, depending on the location, size and the available amenities. Most of the lofts here rent for between $1000 and $2500 per month. If you want to buy instead of renting it, the average cost ranges from about $100,000 to $250,000 for a loft with a size around 1000 square feet. Renting to own a Chicago loft may be an available option for you.

There are several types of lofts. The traditional "hard loft" consists of entirely open space, except for the bathroom, and includes a kitchen and the typical necessities of living. A "raw loft" is just an open space without any facilities, making it suitable for remodeling or as an art studio, for example. The "soft loft" usually features partial walls separating the rooms. They're called this because they don't reach the ceiling.

The lofts available in Chicago, much like the city itself, comprise a character and a sense of originality and are unlike any you’ll see in other places. Considering the wide range of sizes and design, lofts can suit almost any need. Even in some of the most desirable neighborhoods, pricing is modest, making them a great choice.