Home Buying in 60605>Question Details

Maria, Home Buyer in Chicago, IL

I am interested in the South Loop area. What area do you want to stay away from? My price range is around 200k

Asked by Maria, Chicago, IL Tue Sep 2, 2008

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13
Mike Opyd’s answer
I would focus on staying away from buildings that are in bad shape. Buildings such as 1717 S Prairie, 1620 S Michigan and 1111 S Wabash. They all have below 50% owner occupancy and 1717 S Prairie and 1111 S Wabash also have litigation and special assessments. Lenders will not lender in these buildings so getting a loan is not possible. You'll see a lot of cheap units in these buildings on sites like Trulia and Zillow but stay away. They are depreciating assets and your going to be buying into a bad situation. Plus you only really can buy with cash in them.
0 votes Thank Flag Link Fri Feb 22, 2013
The South Loop is a very diverse area with a wide range of properties. You may have a difficult time finding 2 bd/2ba for $200,000 but if you are seeking a one bedroom you should be able to find one in that price range. It is likely that for that price you will be looking at condo's so be sure that you are looking at buildings that have a healthy reserve and high owner occupancy rate and watch out for high assessments. The South Loop is more developed and dense in the north and east part of the neighborhood with more businesses and places to eat but keep in mind it is more expensive there too. If you go south and west you start to see a bit less of that but there are plans for many developments in that area. Printer's Row is most dense and has the most "city" feel in the SL but the units can be smaller and parking is harder to come by. The Prairie District is full of history and beautiful architecture with a nice neighborhood vibe. Museum Campus can be pricey but is a fantastic area. If your question is about safety, like any neighborhood in the city you will need to be aware of your surroundings but the SL is not dangerous or a bad neighborhood by any stretch of the imagination. Please give me a call for more info. I live in the SL and it is my primary market.

Brian Bleers
Century 21 SGR, Inc.
(630) 414-5373
brian.bleers@century21.com
0 votes Thank Flag Link Sat Jun 21, 2014
There's a lot to like about the South Loop! Please contact me for more info about the neighborhood, its amenities, and the various types of properties available.
0 votes Thank Flag Link Wed May 21, 2014
email me at jmichaels@remax.net and I will send you my list of south loop properties
0 votes Thank Flag Link Mon Jan 13, 2014
I live and work in the South Loop. It is a great (but very big!) area. The South Loop is comprised of Printer's Row, Museum Park, the Prairie District and Motor Row. Which area within the South Loop that you personally prefer will depend on your needs in terms of type of transportation, walking distance to restaurants, Soldier Field, the lake, if you have pets etc. If you have any specific questions on the various areas within the South Loop I'd be more than happy to help. Good luck !
0 votes Thank Flag Link Mon Jan 13, 2014
South loop is a great area. Prices tend to average at about 325 for a 2 bedroom 2 bath.
0 votes Thank Flag Link Sun Dec 1, 2013
Hello Maria, You can find a number of S Loop condos around $200k especially if you are interested in a 1 bedroom or a condo that needs a little work. Just let me know if you would like some help. Thx.
0 votes Thank Flag Link Wed Jul 3, 2013
Maria, let me know if you need to get pre-qualified for a purchase mortgage. To see today's rates, or get a free credit report from all 3 credit agencies, go to my website:

Mary Kay Laurent
Associate Vice President of Mortgage Lending
marykay.laurent@guaranteedrate.com

http://www.guaranteedrate.com/MaryKayLaurent

o: 773.516.6859 - m: 312.403.4150 - f: 773.516.6014
3940 North Ravenswood , Chicago, IL 60613
NMLS ID: 870598
State License Numbers: CA - CA-DOC870598 - 4130699, IL - 031.0032236 - MB.0005932
0 votes Thank Flag Link Thu Jun 27, 2013
You have some properties under 200k
0 votes Thank Flag Link Thu May 30, 2013
Today you can find great deals on 1 and 2 bedroom condos around $200k in the South Loop!
Prices are rising again and there are certainly far fewer steals, but they are still out there.
To name a few: 1720 S. Michigan Ave, 1620 S, Michigan Ave, 1910 S. Michigan, 212 E. Cullerton, 221 E. Cullerton, etc.


Ilona Koziel
Real Estate Broker, J.D.
Charles Rutenberg Realty
312.731.4773 Mobile
0 votes Thank Flag Link Thu Feb 21, 2013
I have seen some properties on the MLS that i just mailed to my client if you would like to email me your email address i will be more than happy to forward you the listing my email is george.barhoumeh@cbexchange.com
my website is chicagosouthloopcondos.com
0 votes Thank Flag Link Tue Jan 27, 2009
I'm not sure what you should stay away from, but, I would see as many sales centers as you can. Museum Park offers nothing around 200k... Definitely check out 1720 S Michigan and 1935 S Wabash. These two buildings offer some fantastic units around 200k. I recently saw the Terrazio sales center, it has some amazing finishes for the price... Go on real estate website and do your homework. Anyway, good luck.
Web Reference: http://www.jameson.com
0 votes Thank Flag Link Sat Jan 24, 2009
Hello

South loop is great- we have an office at 548 W. Roosevelt. You will be a little limited being under $200K in this area but there are some good properties out there. Contact me and I'll be happy to let you know a couple address, etc....

thanks!
Web Reference: http://www.kalerealty.com
0 votes Thank Flag Link Tue Sep 2, 2008
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