Loftworks on Michigan

The South Loop has emerged as one of the most sought after neighborhoods in downtown. The area that was once home to abandoned buildings and decaying streets now offers an incredible amount of opportunities for buyers looking for affordable condos and lofts in the heart of Chicago.

One of the newest developments in the area is Loftworks on Michigan, an environmentally friendly development located at 1919 S. Michigan Avenue. This building offers a total of 38 luxury units, with floor plans starting at 625 square feet and ranging up to 1,100 square feet. Prices range from $179,000 to $330,000.

One unit currently for sale on the market at Loftworks on Michigan is a one-bedroom and 1.5 bath loft. This loft is priced at $244,900, making it a very affordable choice for buyers looking for real estate in the Loop.

Residents of Loftworks on Michigan enjoy a number of incredible amenities including stainless steel appliances, granite countertops, and 42-inch oak cabinets in the kitchen. The gourmet kitchen includes an island for cooking large meals and entertaining guests. A washer and dryer is included in many units.

Each unit also includes a huge patio, large windows, high ceilings, and thermal pane windows for energy savings.

The development includes heated garage parking, with spaces available for an extra $20,000.

The neighborhood offers an incredible mix of amenities. Residents will love the easy access to downtown and the rest of the city via local public transportation. The El and Metra both have stops within three blocks of Loftworks on Michigan. CTA buses also run up and down Michigan Avenue and State Street. The downtown Chicago business district is within a few minutes' walk from home.

There are several museums and other cultural events also located in the area. The Museum Campus is a few blocks north of Loftworks on Michigan. Enjoy the Field Museum of Natural History and the John G. Shedd Aquarium or catch a Bears game at nearby Soldier Field.

The area also offers plenty of restaurants, nightlife, and shopping that cater to the young professionals that call the South Loop home.

If you're in the market for a new condo or loft in the Loop, keep up to date with the latest news and stats coming out of the market.

According to the Chicago Association of Realtors, a total of 276 units were sold around the Loop during the fourth quarter. While this is a decline of 49 percent in sales from the same period in 2006, it is still the second highest total sales seen in the neighborhood in 16 years.

However, prices have started to surge around the neighborhood as a result of a number of new ultra luxurious developments coming on the market. The average sales price of condos sold during the fourth quarter in the loop jumped by 125 percent to sit at over $600,000. This is sure to affect prices of other older units in the neighborhood.

Loftworks on Michigan is an excellent choice for young professionals looking for an affordable loft located in the heart of downtown Chicago.

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