The Edge Lofts & Tower

The Near West Side continues to attract new residents from around the city. The neighborhood was once a symbol of urban blight, but recent development has transformed it into one of the best places to find a luxury condo or loft at an affordable price.

One of the most modern developments offered on the Near West Side is the Edge Lofts and Tower. This 21-story building was built in 2004 by Conversion Marketing and Management on top of the former home of the Western Newspaper Union, which was located in a five-story building completed in 1913. The Edge Lofts and Tower are located between Union Station and Greektown at 210 South Desplaines Street.

A total of 224 units are available at The Edge, with units ranging in size from 575 square feet for a studio unit to as much as 1,500 square feet for the largest two-bedroom loft. Prices for these condos start in the $180s and range up to nearly $400,000.

One unit currently available at The Edge Lofts and Tower is a stylish one-bedroom loft that offers tons of great amenities. The kitchen comes with black appliance package, granite countertops, and 42-inch cabinets. The gourmet kitchen also offers a breakfast island bar perfect for entertaining friends and cooking a large meal.

The unit also offers a master bathroom complete with marble floors and a soaking tub. This loft comes with an in-unit laundry, office space, hardwood floors throughout the main living areas, and plenty of extra storage. The floor-to-ceiling windows and private balcony space lets in plenty of natural light.

The location of The Edge Lofts and Tower is one of the most appealing aspects of the development. Residents will love the convenience of living on the edge of downtown. Commuters can walk to work in minutes, and several CTA buses and Union Station offer quick connections to other parts of the city.

The Near West Side also offers incredible restaurants, nightlife, and shopping. The former warehouses around the neighborhood house art galleries featuring the latest work by the hottest local artists.

If you’re in the market for a new condo or loft on the Near West Side, keep up to date with the latest news coming out of the real estate market in the area.

The neighborhood has seen a dramatic drop in sales during the last year, after several years of skyrocketing activity in the area. According to the Chicago Association of Realtors, a total of 383 condos were sold during the third quarter this year, a 31 percent drop from the same period last year.

However, this drastic drop in sales hasn’t led to any major increases in the inventory of unsold condos and lofts on the market on the Near West Side. The average turnover rate increased just 4 days to stand at 149 days in the neighborhood.

Prices also weren’t affected by the drop in sales in the neighborhood. The average sales price during the third quarter was 11 percent higher than during the same period last year. Buyers should beware of getting in the market at its peak. While the neighborhood’s popularity and location should spare most from seeing a drop in prices, there may be a few deals to be had over the next few months.

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