Engravers Lofts

The South Loop continues to offer some of the best new condominium developments. As more residents flock to the neighborhood, the once-forgotten corner of downtown Chicago is fast becoming one of the hottest neighborhoods in the city.

Engravers Lofts was a project by Chrysalis LLC. Construction on the development started in 2001. Buyers can choose from a number of different floor plans at Engravers Lofts. One, two, and three-bedroom units are available, with floor plans starting at 760 square feet and ranging up to as much as 3,098 square feet. Prices for these luxury units start in the high $100s and range up to the low $700s.

Residents enjoy a number of luxury amenities at Engravers Lofts. Each unit comes with a stainless steel appliance package, custom 42-inch cabinets, granite countertops, and a breakfast bar. Each unit also offers a gas fireplace, hardwood floors, floor-to-ceiling windows, and carpeted bedrooms.

Many units enjoy a commanding view of the Chicago skyline and Lake Michigan from the oversized balconies. Baths come with a separate shower and soaking tub, and include Kohler fixtures.

The development offers a number of excellent amenities. Engravers Lofts features a 9,000 square foot private park in the courtyard, packed with a fountain, barbecue area, and landscaped garden. The building also offers bicycle storage, underground garage parking, and a secure video entry system.

The neighborhood is one of the biggest draws for new residents of Engravers Lofts. The South Loop offers excellent restaurants, nightlife, and cultural events throughout the year. The area continues to attract new businesses as more developments come to the market.

The area is perfect for professionals who work in downtown Chicago. Both the Metra and El offer quick connections with downtown. CTA buses also run along State Street and Michigan Avenue. Area expressways connect the neighborhood with the rest of Chicago in minutes.

Residents of the South Loop also enjoy easy access to lakefront parks, museums, and sporting events. Soldier Field is just a few blocks away, making it easy to enjoy a Bears game throughout the fall. The Field Museum of Natural History, Adler Planetarium, and John G. Shedd Aquarium are also within a few minutes' walk from home.

The real estate market in the Loop is seeing a lot of development of ultra luxury condominiums. Prices in the area are rising rapidly. However, higher prices have resulted in a marked decline in sales in the neighborhood.

According to the Chicago Association of Realtors, a total of 276 units were sold during the fourth quarter, down from 537 units sold during the same period in 2006. However, sales were still well above the average sales seen during the quarter in the last 10 years.

Perhaps the biggest news for the market in the Loop was the huge increase in the prices paid for units in the neighborhood. The average sales price during the fourth quarter jumped by 125 percent from the same period in 2006.

The Loop continues to be the most popular neighborhood for professionals and retirees looking to move back downtown from the suburbs and enjoy an urban lifestyle in the heart of one of the most vibrant cities in the world.

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