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1111 Wabash

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The South Loop has undergone quite a few changes in recent years. A number of new luxury condominium high-rises have changed the look and feel of this downtown neighborhood, and brought a new vibrancy to the area.

One of the first buildings to come to the South Loop is located at 1111 Wabash. Developed in 2001, this project by the Gammonley Group is considered by some to have started the building craze around the South Loop. The Gammonley Group is a Chicago-based developer that has built large projects in neighborhoods around the city, including Prairie Pointe at Central Station and 757 Orleans.

Buyers can choose from a number of floor plans at 1111 Wabash. The 33-story building offers a total of 232 units, with 28 different floor plans available. One unit currently on the market at 1111 Wabash is a two-bedroom and two-bath condominium on the 9th floor. This unit offers a total of 1,438 square feet of living space, and comes with an indoor deeded parking space. Its price is just $429,900.

Prices for all units in the building range from the mid $200s to over $1.5 million for the largest penthouse condominium. Floor plans range from one to three bedrooms, with den. Extra parking is available for $30,000.

Residents of 1111 Wabash enjoy a number of luxury amenities. Each condominium comes with a gourmet kitchen stocked with an appliance package, granite countertops, and 42-inch cabinets. The breakfast bar gives you extra space to cook and entertain friends and family.

The master bathroom offers a separate shower, soaking tub, and marble finishes. Each unit also offers hardwood floors, huge windows with excellent views of the downtown Chicago skyline, and a den space. Private outdoor space is offered with each unit, with some balconies giving up to 250 square feet of space.

The neighborhood that was once considered a backwater to downtown now offers plenty of luxury amenities to residents. Dining, shopping, and nightlife can be easily enjoyed in the neighborhood, with many options located along Michigan Ave, Wabash, and State Street.

The building is just one block from Grant Park, allowing residents to get away from the noise of downtown Chicago and enjoy some peace and quiet during a morning walk along the lake. Museum Campus is steps from 1111 Wabash. Residents can enjoy some of the best cultural events and museums here, or head down to nearby Soldier Field for a Bears game.

Public transportation is readily available in the area, but for commuters, the downtown Chicago business district is all easily accessible by foot. The Roosevelt El station is just one block away.

Sales of condos and lofts remain strong in the Loop despite a downturn in market conditions around the Chicago region. According to data from the Chicago Association of Realtors, a total of 1,046 condos were sold in the Loop in 2007, the second highest total in more than 16 years for the neighborhood.

Prices are up, thanks to the number of new luxury towers under construction in the Loop. The average sales price soared by an incredible 51 percent in 2007, and could continue to rise as the area enjoys an excellent location and strong demand.

 

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