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Huron Street Lofts

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The Near North Side offers many excellent condominium and loft projects. However, if you’re looking for a loft in a vintage building, these are becoming harder to find around the neighborhood.

One of the last remaining vintage, timber-beam loft conversions on the Near North Side is located at 225 W. Huron Street. Built in 1896, this historic warehouse was converted to apartments in 1986, and recently gutted and converted into luxury lofts by Huron Street Associates, LLC.

Buyers can choose from one bedroom and one bath lofts ranging in size from 685 square feet to 975 square feet. The sales price for these luxury lofts start at $250,000 and range up to $320,000. Huron Street Lofts are also available for rent. Prices range from $675 to over $1,000.

Residents of Huron Street Lofts enjoy granite countertops, an appliance package, and 42-inch cabinets in the kitchen. Each unit also offers 12 to 15-foot ceilings, oversized windows, and hardwood floors throughout.

The building also offers a laundry room with internet connection, dry cleaners, extra storage, and a newly renewed lobby. Residents can entertain guests or get to know the neighbors on the rooftop deck, which offers a barbecue and incredible views of the downtown Chicago skyline.

The location of Huron Street Lofts is one of the main attractions for buyers and renters. The development is located in the middle of several art galleries, world-class restaurants, and excellent nightlife.

Commuters will love the easy connections to the downtown Chicago business district. Residents of Huron Street Lofts can walk to downtown or take the El train to other neighborhoods around the city.

Shoppers will love living just minutes from the Magnificent Mile, home to the best brand names, boutiques, and designers in the city.

Buyers looking for a condo or loft on the Near North Side should keep up to date with the latest statistics coming out of the market. The neighborhood is the most active of all Chicago neighborhoods. However, the Near North Side is seeing the effects of a weak market in the city.

According to the Chicago Association of Realtors, a total of 846 condos were sold during the third quarter. This is a 5 percent drop from last year and the fourth consecutive year that sales have declined in the neighborhood.

With the drop in sales, the inventory of unsold condos and lofts in the neighborhood is increasing. According to the C.A.R. report, if you’re selling a condo in the area, it will now take you an average of 119 days to find a buyer, 22 days more than last year.

Prices in the neighborhood continued to rise, as many new luxury developments come on the market. The average sales price during the third quarter was up to $526,148, a 5 percent increase from the same period last year.

The popularity and excellent location of the Near North Side should keep prices from falling as a result of a decline in demand and increasing supply. However, prices probably won’t rise as fast as in the last few years during the recent boom in the market.

 

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