South Loop Statistics From Trulia-Good Real Estate News!

Near South Side Summary

The median sales price for homes in Near South Side for Sep 09 to Nov 09 was $334,000. This represents a decline of 0.3%, or $1,000, compared to the prior quarter and a decrease of 14.5% compared to the prior year. Sales prices have appreciated 17.2% over the last 5 years in Near South Side, Chicago.

The median sales price of $334,000 for Near South Side is 36.33% higher than the median sales price for Chicago IL. Average listing price for homes on Trulia in Near South Side was $585,371 for the week ending Dec 23, which represents a decline of 0.3%, or $1,625 compared to the prior week and a decline of 0.2%, or $1,264, compared to the week ending Dec 02. Average price per square foot for homes in Near South Side was $177 in the most recent quarter, which is 21.23% higher than the average price per square foot for homes in Chicago.

By Fred Scovell of Chicago Viewpoint-

If you think about it, the South Loop has not been a bad real estate investment if you bought 5 years or more ago. Most real estate analysts would tell you that under normal market conditions, you can expect to break even after closing costs if you have owned your property for a minimum of 3 years and actually realize a profit if you have owned it for at least 5 years. A 17.2% appreciation for  the South Loop over the last 5 years amounts to a yearly appreciation increase of 3.44% on the purchase price. If you put 5% down on a $300,000 condo ($15,000) 5 years ago and the property appreciated 17.2% it would have a value of $352,600 today. This is in fact a gross return of $52,600 on an actual cash investment of $15,000. After closing costs and commission you would net approximately $26,100. This is a $174% return on dollars actually invested. You could consider the monthly mortgage and real estate tax paid over that time period as general housing costs-costs you would have expended as rental costs without any tax benefit had you not owned.

South Loop's New Dynamic Duo

Real Estate gurus, Fred Scovell and Pat McAloon, have joined forces to create the Chicago Viewpoint team. The longtime friends, and now business partners have come together to ensure both buyers and sellers get their fair share of PERKS:

P-Professional
E-Ethical
R-Reliable
K-Knowledgeable
S-Service

When asked what his expectations of the new partnership Pat McAloon responded, "It's been a long time coming and we hope to provide our customers with service that will encourage them to refer us to their friends, family, and co-workers."

To search for properties click here

South Loop Printers Row Park

    Fred Scovell of The Scovell Team was baffled by the stone blocks in the new Printers Row Park-did someone make a humongous mistake? The lettering is backwards! What gives! It turns out that it is intentional-the blocks mimic printers typeset pieces; when inked and pressed down on paper the letters would then be facing in the correct direction. This is after all the Printers Row Park!

South Loop Loft Walk

South Loop Loft Walk is a tour that your moderator, Fred Scovell recommends highly!!

Chicago Marathon Route And Street Closures

By: Fred Scovell of www.thescovellteam.com


Bank of America Chicago Marathon
Date: Sunday, 11 Oct 09

Start Time: 7:30 am


Start Location: Monroe and Columbus
Finish Location: Columbus north of Roosevelt




Street Closures for site set up, event and teardown:


Columbus from Roosevelt to Congress Pkwy-
Close: Friday, 09 Oct 09 at 10am Open: Monday, 12 Oct 09 at 6am


Columbus from Congress Pkwy to Jackson-
Close: Sunday, 11 Oct 09 at 3am Open: Sunday, 11 Oct 09 at 4pm


Columbus from Jackson to Monroe- Close:Sunday, 11 Oct 09 at 3am Open: Sunday, 11 Oct 09 at 11am


Columbus from Monroe to Randolph-
Close: Sunday, 11 Oct 09 at 3 am Open: Sunday, 11 Oct 09 at 9:30am


Balbo from Columbus to LSD- Close: Thursday, 09 Oct 09 at 7pm Open: Monday, 12 Oct 09 at 6am


Balbo from Michigan to Columbus- Close: Friday, 10 Oct 09 at 10am Open: Monday, 12 Oct 09 at 6am


Congress Pkwy from Michigan to Columbus-
Close: Sunday, 11 Oct 09 at 3am Open: Sunday, 11 Oct 09 at 4pm


North & South Congress Circle Michigan to Congress Pkwy- Close: Sunday, 11 Oct 09 at 3am Open: Sunday, 11 Oct 09 at 3pm


Jackson from Michigan to Columbus-
Close: Sunday, 11 Oct 09 at 3am Open: Sunday, 11 Oct 09 at 11am


Jackson from Columbus to LSD- Close: Saturday, 10 Oct 09 at 6am Open: Monday, 12 Oct 09 at 6am


Monroe from Michigan to LSD- Close:Sunday, 11 Oct 09 at 3am Open: Sunday, 11 Oct 09 at 9:30am


For further marathon route and information go to www.chicagomarathon.com

There will be rolling street closures and streets will be opened as soon as it is safe to do so.

South Loop Photo Contest Winners

Second Prize winner "Light Night Pool" by Mel Theobald

"8th Street Garage" by Christie Chew-Wallace was the Grand Prize winner at the recently held 10th annual South Loop Neighbor's Photo Contest and Show. The winning photos and finalists will be part of a photo tour-currently at the fantastic gourmet burger establishment of "Epic Burger" on State Street, moving to the eclectic dining establishment of "Café Medittera" on Dearborn through October and finally showcasing at the Harold Washington Library for November and December.

South Loop New Child Care Center

There is a fantastic new child care center in the South Loop! The Mary Sears Children's Academy opened its doors approximately 4 weeks ago between Roosevelt Rd and 13th street on State St. It provides a number of tailored child care programs: infant care,pre-ones, pre-twos, two, three year olds, pre kindergarten, kindergarten ,before and after school, enrichment and summer camp. It has all day and half day sessions for 2,3 and 5 day scenarios. You can reach the Academy at 312-913-1234.

NO MORE BOOZE!

Sam's Liquors is no more! The South Loop, which had a storied history involving bootlegged liquor, Al Capone, red light districts, vagrants and drunks, obviously has changed in more ways than one could have ever imagined. This is not to say that it can't support a beverage retailer of spirits, wine and beer, but it is a disappointment that Sam's has left as of August 9th,2009. No more gourmet cheeses, $300 bottles of wine or exotic beers. Sam's fall in the South Loop probably had more to do with practices not condoned by the Federal Regulators. Wine Spectator wrote:
"Last week 10 of the largest alcoholic-beverage distributors in the state agreed to pay a total of $803,000 in fines to the federal Alcohol and Tobacco Tax and Trade Bureau (TTB). The penalties were levied by federal regulators following a six-year probe into abuses at Sam's Wine & Spirits Inc. in Chicago, which was caught accepting kickbacks from wholesalers and running an unlicensed warehouse for the storage of surplus inventory."

South Loop Rentals At Roosevelt Road

A new 342-unit condo project on Roosevelt Road is now being converted into apartments. Centrum Properties, the developer had 60% of the condo units under contract but due to the shift in the real estate market, a sufficient number of sales had not been reached which would allow lenders to provide financing for the contract buyers to close.
The Lofts at Roosevelt Collection, at 150 W. Roosevelt Road, is the second South Loop condo project to go rental in the past two years, after Burnham Pointe, a 298-unit high-rise at 730 S. Clark St. Rents in the Centrum project will start at $1,375 a month for a one-bedroom unit and $2,300 for two bedrooms.

South Loop Dearborn Park Opportunity

How about a 2 bedroom condo with 1 and 1/2 baths with 1250 approximate square feet for the price of a 1 bedroom condo? Yes, a unit at 899 S. Plymouth Court is currently listed with Rubloff Residential Properties by the Scovell+Sabatini Team for only $255,000-in a building that has a doorman, exercise room, restuarant and an outdoor pool/sundeck.