Chicago lofts have moved from “raw and rough” to “sleek and chic” luxury homes over the last 30 years. Availability in the Gold Coast, River North, and River West neighborhoods has increased significantly, providing home buyers with tremendous loft options in locations, amenities, and price points.
| Year | Average Sales Price | Average Cost/Square Foot |
| 1999 | $262,920 | $199.88 |
| 2000 | $290,532 | $220.08 |
| 2001 | $312,167 | $243.72 |
| 2002 | $337,236 | $258.17 |
| 2003 | $329,617 | $262.13 |
| 2004 | $366,544 | $282.67 |
| 2005 | $393,446 | $293.52 |
| 2006 | $386,667 | $311.15 |
| 2007 | $407,564 | $325.11 |
| 2008* | $386,604 | $296.09 |
Trends:
- Prices have steadily increased over the last 10 years, with loft sale prices holding fairly steady, even in recent months.
- 2003 marked the greatest number of units sold – 376 – but year to date sales of 18.9/month compares favorably to 2006 (17.0/mo) and 2007 (19.2/mo).
- The average size loft in 1999 was 1356.3 square feet, and this has remained pretty constant over the 10 year period, with 2008 lofts averaging 1320 sqft/unit.
Style
Are you a timber and brick fan or do you prefer concrete lofts? Do you want a “soft loft” with private bedroom(s) or an open, expansive feel?
Accessibility/Location
Is public transportation or access to the expressways a concern? Do you want sweeping skyline or “in the mix” building views?
Livability
Do you need total quiet to sleep? Maybe how the owner added soundproofing materials is a concern. Are you looking for a rougher, casual look or the sophisticated feel of top of the line finishes?
One unique luxury loft opportunity, represented by Sue Weeks and myself, is unit 404 at 1147 W. Ohio. The balance of location, finishes, and price make it an absolute “must see” for anyone considering Chicago loft living.
Location
This building is located in the trendy River West neighborhood just west of the Chicago River, close to the Kennedy Expressway and the Blue Line subway. The popular East Bank Club fitness facility and some of Chicago's finest restaurants are also nearby. Residents enjoy the neighborhood's low density while being close to the Loop and Michigan Avenue.
Style
This loft is the finest in brick and timber with soaring 12’ ceilings and sophisticated finishes, e.g. Miele and Fisher & Paykel, stainless and Birdseye maple, corian, and more. With details like arched ceilings, specialty lighting and new double paned windows, you won’t need to do a thing but move in. It’s the perfect combination of open space with a private master suite designed by the owner/architect. The sweeping skyline views will stun you.
Price
At $275/square foot, you will not find a loft lovelier than this 2100 square foot beauty that includes parking.
To view this unit, or learn more about luxury loft living in Chicago, please call today.
Posted By: 
Anne Rossley
