In past decades, the Loop wasn’t exactly known as a residential destination. That reputation, though, has changed in recent years as the city’s central business district has developed as a hot spot for locals and tourists. No longer a desolate skyscraper canyon once office hours end, the area has maintained crowds well into the evening with new downtown attractions, apartment towers, and hotels.
How much does it cost to have a view overlooking the bustle of Michigan Avenue and Millennium Park? A budget of roughly $1 million seems to be the sweet spot, affording dramatic views of the city and a fair amount of living space. But with a median sale price of just $380,000 over the last 30 days, the Loop drives a hard bargain compared to neighboring downtown communities like Streeterville, River North, and the West Loop.
Buyers seeking a posh place in the heart of the Loop will find some great options currently on the market.
One of the standout features of Michigan Avenue is its long stretch of historic skyscrapers. The buildings on the blocks between Randolph St. and 11th St. are protected as a landmark district, forever enshrining the so-called “Michigan Avenue Streetwall.” Likewise, the public space in Grant Park — forever open, clear, and free to visit — is protected from new development, meaning that views overlooking Millennium Park and Lake Michigan will never change. This spacious three-bedroom in the historic tower is a prime example that blends the Loop’s architectural pedigree and contemporary luxury.
Here’s a real first-world problem: It might be difficult to watch television when you’re surrounded by windows overlooking Millennium Park and all its different attractions. Located on the eighth floor of this vintage property, this unit will make you feel like you’re still a part of the action down below. With finely appointed interiors and nice extras like a shared rooftop deck, this three-bedroom, two-and-a-half bathroom apartment will delight friends and family members for its location and luxury amenities.
Bumping a million-dollar budget up by $100,000 can get buyers a more contemporary space such as this 1,750-square-foot three-bedroom in the Legacy. There’s a lot to like here, but this unit’s most striking feature is its dramatic views of Millennium Park and downtown. Its location on the 23rd floor offers a sweeping and serene perspective of the park and Lake Michigan. The space itself is fully loaded with standard luxury finishes like upscale name-brand appliances, but another big plus is that the asking price includes a garage parking space.
Imagine having dinner parties in the sky. Now, imagine dinner parties in the sky with sweeping views of Grant Park and Lake Michigan. A budget of $1.4 million can make this dream a reality, plus some bonuses. With three bedrooms and two-and-a-half bedrooms spanning more than 2,000 square feet, this upscale Loop residence does not skimp on space. Plus, within the building are desirable amenities such as a proper fitness center and a rooftop deck boasting a pool and outdoor grills.
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