Glut check: South Loop, by the numbers

60605 ZIP code boundaries, Chicago

See that? That’s the 60605 ZIP code, a region stretching from the Museum Campus to the Chicago River and from Van Buren to 16th Street, with an occasional nook and cranny carved out here and there, and a dog-leg reaching down along the railroad tracks and Calumet Avenue to McCormick Place’s Metra station. That covers most of the area we call the South Loop, a place that was “the hottest neighborhood in the country” as recently as 2007 but now serves as the poster child for condo glut. Just how many homes are up for grabs right now? Let’s take a look.

Condos:

  • Studios: 18 listed from the $70s to $200s; median price in the $140s.
  • One-bedrooms: 243 listed from the $70s to $580s; median price in the $230s.
  • Two-bedrooms: 435 listed from the $140s to $1.24 million; median price in the $400s.
  • Three-bedrooms: 185 listed from the $290s to $2.7 million; median price in the $960s.
  • Four-bedrooms: Six listed from the $540s to $2.75 million; median price of $1.29 million.

Townhomes:

  • 70 listed from the $210s to $1.18 million; median price in the $580s.

Single-family homes:

  • Six listed from the $640s to $1.79 million; median price in the $820s.

Condos and townhomes listed for rent:

  • 152 listed from $950 to $10,000 a month; median price of $1,800.

According to Redfin, 295 units have closed in 60605 in the past six months.

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