How much is avg cost per square foot in the South Loop area? Not necessarily new construction?

Asked by Karyn, River Drive, Fargo, ND Mon Sep 22, 2008

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Ken Dooley, Agent, Chicago, IL
Wed Sep 24, 2008
Hi Karyn,

Wayne summed it up well in his answer. My advice is to find out what you qualify for from a lender if you haven't done so already, check what's available within your price point and then physically walk through units that are of interest.
I've seen units with less sq ft feel bigger than those with more sq ft due to layout, positioning of windows, doors, hallways etc. Sq ft can often be mis-quoted and many listing agents won't provide it when marketing the property, highlighting instead the number of Bedrooms and Bathrooms along with room dimensions.

Best of luck, Ken.
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Wayne Beals, Agent, Chicago, IL
Tue Sep 23, 2008
Hi Karyn,

This can very greatly on type, views, location, condition and overall size of the unit.

If you look at a recent 2400 square foot townhome resale for $538,000, dollars per square foot come out to roughly $225. Some of this square footage is on the lower level.

On a recent new construction sale, a two bed two bath condo with great views closed at over $500 per square foot.

Before making an offer, search out the most comparable closings you can find to help you determine value.

Best of luck.
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