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The West Loop has many new luxury loft and condo developments. The neighborhood is conveniently located close to the downtown Chicago business district and offers excellent amenities. One of the newest developments in the West Loop is 33Six South Morgan. The 11-story tower offers 70 condominiums starting in the low $200s. Irongate Land Co is the Chicago developer behind this new project. The architect, Hartshorne Plunkard Architecture, has worked on several projects around the city. Buyers can choose from one and two bedroom condominiums. Floor plans range from 690 square feet for a one bedroom unit to as much as 1,220 square feet for the largest two bedroom unit. Many units come with large outdoor terraces offering excellent views of the surrounding city. Amenities also include open style floor plans with 10 foot ceilings. All units come prewired for sound and WiFi is available throughout the building. 33Six South Morgan is located at the corner of Morgan St. and Van Buren. The neighborhood is one of the most popular choices for young professionals and families looking to buy their first home in the heart of Chicago. There are many restaurants within blocks of 33Six South Morgan. Dragonfly mandarin, Beer Bistro, Parthenon, Greek Islands, and Santorini are a few of the most popular choices for local residents. Nearby Greektown offers some of the best Greek cuisine outside of Athens. The neighborhood offers several festivals throughout the year. A Taste of Greektown is the perfect chance to get out and enjoy the neighborhood and try the local cuisine. A Taste of Randolph Street is another popular festival. The neighborhood hosts what has been billed as Old St. Pat’s World’s Largest Block Party. Residents looking to stay in shape can head down to the West Loop Athletic Club or Cardinal Fitness, both just a few blocks away. Commuters will love the easy access to downtown Chicago. The downtown business district is within walking distance. There are also several buses, taxis, and train connections. Union Station is close by, offering connections to all of Chicago. Buyers should keep in mind current market conditions when looking for the right condominium around the West Loop. According to the Chicago Association of Realtors, sales in the Loop are down, inventory is staying on the market longer, and prices are starting to show signs of dropping. The West Loop has been heavily developed over the last few years and could see even further market upheaval. According to the second quarter report from the Chicago Association of Realtors, sales in the Loop dropped by over 20 percent. A total of 211 condominiums sold in the neighborhood during the second quarter, down from 264 during the same period last year. Condo owners and developers are also facing longer waits when it comes time to find a buyer. The average turnover time for condos in the neighborhood is now at 108 days, 35 percent higher than last year. The average sales price has dropped in the Loop for the first time since 1996. A condo in the Loop now sells for an average $363,256. While this is only $1,000 less than during the second quarter of 2006, if current market conditions persist, the average sales price should drop even further. I'M INTERESTEDTo:
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