The South Loop Trolley Tour is Back
I know a few of you went on the South Loop Trolley Tour offered by Re/Max agent Rebecca Thomson last fall.
If you missed that one- nows your chance.
She’s running it again on Sunday, April 27.
It’s free. The trolley will take you to several sales centers in the South Loop.
You must register (because, after all, only so many people can fit on the trolley.)
If you go, please report back in with your observations.
Last time some of you reported seeing flippers/investors on the trolley. Will they still be looking to “invest” now- six months later?
South Loop Trolley Tour [Website]
Gosh! Can I please see more 1/2 Mil 2 bed apartments with no parking………Plllllllllease?????
Use it as a source of inspiration. Organize your own trolley tour of nervous parents, vinyl siding and chain restaurants in the newest development popping up west of Batavia.
So what’s everyone’s perspective in South Loop? I know it’s somewhat ‘dead’ now compared to River North or Streeterville, but prices are pretty good down there. Any particular buildings/developments down there I should check out, and why?
As a prospective buyer in the intermediate term I like the developments there but I think it’s ridiculously overpriced now. With all the new capacity coming up there within the next 18 months I think real estate in that area has quite a bit to fall. I’m hoping for $200/sf in 18 months time but this could be too optimistic/wishful thinking. Lets let some of these investers flush out first which is already happening.
Also I think theres a difference between north south loop/printers row and central south loop/dearborn park. Its a bit more difficult to walk to work in the 1500s-2000s than it is for the 600s-800s so I’m keeping my eyes peeled for printers row area deals.
little boi, I’d recommend going on the tour. It is very well organized (I did it a few months ago), and you get a very good sense of what is out there. If she’s going to new locations, I might even go again.
All good points, Bob. I happen to agree that $200/sf or under will be the going rate all over the South Loop.
I couldn’t agree more about the difference in location of the South South Loop (1500+ south.) These buildings will fall hardest. I can’t understand how they have been priced similarly to the areas near Roosevelt. That’s why its called a mania, I suppose.
The South Loop will be unstable for quite some time. The foreclosures will be flooding the market in the near future. After that we will be much closer to knowing where the market will bottom. A large over-correction here is not out of the question.
Yeah I can easily see $200/sf in the mid & south south loop area in the coming quarters.
$200/sf in the northern south loop is a little bit tougher to see, partly because demand will be higher but also the developments are generally nicer and theres fewer of them. Maybe $230-250 range there but of course this is all speculation.
Here’s an update from Becky on the developments on the tour:
1400 S Michigan (Michigan Ave. Tower 2)
X/O
1720 S Michigan
Roosevelt Collection
She’s still in negotiations with a fifth development- so stay tuned on that.