Motor Row

The Near South Side has undergone one of the most dramatic transformations ever seen in Chicago in recent years. The neighborhood that was once representative of urban decay is now home to luxury lofts and condominiums.

New residents are bringing life back to the streets and businesses are opening every day.

While many new developments are modern high rise buildings, some developers have focused on the old historic architecture in the area. Several warehouses have been converted into luxury loft space that maintains the original character of the neighborhood.

Motor Row Lofts is one development that has preserved landmark buildings in the area. Located at 2301-2315 South Michigan Avenue, Motor Row Lofts offer a combination of historic architecture and ultra modern conveniences that make living in this development a unique experience.

The developer of Motor Row Lofts is the Motor Row Development Corporation. The company is responsible for several projects in the greater Chicago area, including the Parkview, Lakewood Court, Filmstrip Lofts and the Metalworks Lofts.

Buyers can choose from several different floor plans. Of the 52 lofts, there are 36 different layouts to choose from. There are one-, one plus den, two-, two plus den, and three-bedroom floor plans available at Motor Row Lofts.

Prices for the lofts start at $234,900 for the smallest one-bedroom unit and range as high as $659,000 for a three-bedroom loft.

The lofts come with high ceilings, ranging from 13 to 21 feet. Amenities in the units include hardwood floors, granite countertops, and a stainless steel appliance package. These Chicago lofts also come with a fireplace.

All residents can enjoy incredible views of downtown Chicago from the rooftop deck. Garage parking is available but must be purchased separately.

The neighborhood is one of the most popular new neighborhoods in the city. There are several great restaurants on the Near South Side, including Opart Thai House, Triad Sushi Lounge, and La Cantina Grill.

Residents can enjoy a night out at the Bongo Room or Grace O’Malleys. There is also plenty to enjoy during the day. The Field Museum and Adler Planetarium are just a few blocks north of Motor Row Lofts.

Residents can enjoy a walk along the Lake Michigan Shoreline or head out to the beach on Northerly Island on a warm summer day.

Commuters have easy access to downtown Chicago via CTA buses and El train connections.

Buyers looking for a new condominium or loft on the Near South Side should be aware of current market conditions in order to make the best decision.

According to the most recent report from the Chicago Association of Realtors, condominiums are staying on the market longer and the number of sales in the neighborhood has dropped significantly.

During the second quarter of this year, a total of 237 condominiums were sold on the Near South Side, down 40 percent from the same period last year.

This drop in demand can be explained by a combination of difficulty in the mortgage market and high prices for the condominiums. Many buyers are unable to qualify for a mortgage due to stricter requirements from banks and lenders.

If you are selling your condo on the Near South Side, it will now take you 198 days to find a buyer. This is double the average for all of Chicago and one of the longest turnover times for any major market in the city.

Developers and sellers who are facing financial pressure may have to offer a deep price cut to attract more buyers.

Buyers should negotiate for a price that reflects the current market conditions on the Near South Side.

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