Is the South Loop Chicago's Las Vegas?

In this video interview, David Hall refers to the South Loop as “our Las Vegas.”

It’s a wonderful meme, one that resonates far beyond what Hall intended, i.e. the South Loop as local poster child for a supply – demand imbalance. Las Vegas, after all, is a gambler’s paradise, a place where dreams are made and shattered, where wealth is evanescent and can materialize and vanish quickly, and more.

Does Chicago already have its downtown casino in the form of a neighborhood? Or does the South Loop present opportunities for the careful, rational home buyer and investor to beat the odds?

David Hall has seen the ups and downs of Chicago’s real estate market during his more than 30 years in the business. The market crash of the early 80s wrecked his construction business, leaving him down to his last $5.

The last 20 years, however, have seen Hall presiding over Coldwell Banker’s Lincoln Park Plaza office and building it into a powerhouse, with more than 200 agents and $1.7 billion (yes, billion) in sales in 2006. To put that sales number in perspective, if Hall’s office were a company it would be one of the largest real estate companies in the United States. From 2004 through 2006 his office ranked first in sales in the entire Coldwell Banker system.

Don’t miss our list of South Loop high-rises at NewHomeNotebook. Chime in with your ratings and reviews of each.

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