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What Can I Get for … Under $600K in the South Loop?

Real-estate trends have meant that the neighborhood’s loftiest lofts are still affordable, but it might not stay that way for long.

1530 S. State Street Unit 17L in the South Loop   Photo: VHT Studios

The South Loop was once known for being an important industrial corridor, but many of the neighborhood’s older commercial buildings are now loft residences. The typical ingredients for a classic Chicago industrial loft generally include tall, raw ceilings, open floor plans, and large windows. But another major perk is that it doesn’t have to cost an arm and a leg to claim one of these unique spaces.

In the coming years, developers are expected to shift focus from saturated high-end markets in areas like River North and the West Loop to the still relatively affordable South Loop. Thousands of new rental apartments and hundreds of upscale condos are already in the pipeline, so there may be no better time to invest in the neighborhood.

Here’s a quick snapshot of some of the loftiest lofts for sale right now in the South Loop.

1530 S. State Street Unit 17L—$500,000

With a large floor plan spanning 1,700 square feet, this spacious two-bedroom, two-bathroom loft on State Street (pictured above) holds its own against comparably priced single family homes. The big difference is that you get some incredible views of the city here. Parking is included in the asking price, but grocery shopping and public transit are well within walking distance.

888 S. Michigan Avenue #403$550,000

Photo: VHT Studios

If you’re a fan of the open feel of lofts but want a more refined look, this 1,700-square-foot two-bedroom unit on South Michigan Avenue is worth considering. And with being a corner unit, you’re getting more natural light—an important commodity during the winter months. In terms of location, you’re literally just steps from Grant Park and other Michigan Avenue attractions.

2332 S. Michigan Avenue #405$593,000

Photo: Redfin Corporation

Don’t let the narrow floor plan fool you here—this two-bedroom duplex loft features 2,000 square feet of living space. Major perks include a gas fireplace for the living room, private second-level bedrooms, and a private rooftop deck that would make anyone jealous. Parking is not included in the deal, but the new Cermak-McCormick Place ‘L’ station is just around the corner.

1617 S. Michigan Avenue #2—$575,000

Photo: VHT Studios

If your dream has always been to have your very own artist loft, you’re in luck. This large 2,900-square-foot loft on Michigan Avenue is the perfect space for a live-work arrangement. Drenched in natural light thanks to its floor-to-ceiling windows, this one is made for photographers and studio artists. It’s also been on and off the market for nearly two years and has taken a number of price reductions during that time.

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