The Loop (Downtown) (Chicago: real estate, renting, condos)

[rw2006]

I heard that the Loop (downtown) is a very nice place. It's diverse, safe, and full of things going on. Is this true?

[jdiddy]

Yeah, it's nice.

[NYrules]

I don't know if I would say that there is a lot going on in the loop right now other than for people going to and from work, BUT big changes are taking place in the loop as we speak. Daley is feverousiously working to make the loop into an area that not only people come to work, but to play as well basically so they (residents and tourists) can spend more of their money. Condos are popping up like dandelions in May.

For buyers, the loop is a gold mine plain and simple. It is the Streeterville of 1980. Right now the loop is bustling between 8AM and 6PM M-F, but is a ghost town any other time, however with the sheer number of developments currently under way, the loop is bound to grow by nearly 40,000-50,000 people just in the next few years alone.

This year's Looptopia was a giant success showing off all the neighborhood has to offer, and soon Block 37's horrid and delapidated hole in the ground will be a bustling shopping center, not to mention the new train station that is also underway on the Block 37 site to join O'Hare with the Loop.

All this being said, if you are looking for an area to buy, the loop is an area you can't go wrong in. Property values can only go up from here.

[via chicago]

Originally Posted by NYrules

Daley is feverousiously working to make the loop into an area that not only people come to work, but to play as well basically so they (residents and tourists) can spend more of their money. Condos are popping up like dandelions in May.

well, the loop itself is pretty much built out...there isnt a whole lot of open real estate that anything new can go. Now the south and west loop (former industrial areas), yes, they are booming. but the loop proper, aside from a few developments here and there, i wouldnt say theres a ton going up.

This year's Looptopia was a giant success showing off all the neighborhood has to offer, and soon Block 37's horrid and delapidated hole in the ground will be a bustling shopping center, not to mention the new train station that is also underway on the Block 37 site to join O'Hare with the Loop.

Meh, I've given up hope for Block 37. Whoop de doo, we get another suburban style shopping center downtown, as if we don't have enough of those . It had the potential to be something truly great; a focal point and gathering place which Chicago currently lacks (except for perhaps millenium park). but the football has been fumbled on that development more times than are humanly countable. The project ultimately going up now is extremely uninspired and honestly a huge disappointment. Granted, it will be better than the vacant lot that has been there for 2 decades, but for the real estate its going on top of (arguably the most coveted undeveloped plot in the country), the end result is nothing short of tragic.

[aragx6]

No there's not a lot going on after the work crowd has a few drinks and heads home, but being in the loop you are so close to other areas of the city that are "hopping" at night. If renting, I'd probably get a place with more going on, but as far as investments go, the loop is appreciating at rates better than anywhere in the city.

[Drover]

Originally Posted by NYrules

This year's Looptopia was a giant success showing off all the neighborhood has to offer, and soon Block 37's horrid and delapidated hole in the ground will be a bustling shopping center, not to mention the new train station that is also underway on the Block 37 site to join O'Hare with the Loop.

The Blue Line already goes to the Loop. It already has a stop right in front of Block 37.

[via chicago]

Originally Posted by Drover

The Blue Line already goes to the Loop. It already has a stop right in front of Block 37.

Its supposed to connect Red and Blue line tunnels, and potentially anchor express service out to O Hare.

[NYrules]

Originally Posted by via chicago

Its supposed to connect Red and Blue line tunnels, and potentially anchor express service out to O Hare.

This is what I meant to say.

[Drover]

Originally Posted by via chicago

Its supposed to connect Red and Blue line tunnels, and potentially anchor express service out to O Hare.

I don't see how you're going to have express service to O'Hare without building a whole new set of tracks out to there. Otherwise the train gets held up by all the rest of the traffic making all the local stops. I mean, I guess it'll be nice to not have to share a train with us working schlubs on your way out to the airport and all, but other than that, what's the benefit here?

[NYrules]

Originally Posted by Drover

I don't see how you're going to have express service to O'Hare without building a whole new set of tracks out to there. Otherwise the train gets held up by all the rest of the traffic making all the local stops. I mean, I guess it'll be nice to not have to share a train with us working schlubs on your way out to the airport and all, but other than that, what's the benefit here?

I heard something about the fact that they are planning to build a whole new set of tracks. Dunno. I have been doing some research on this though for investment opprotunities around there.