Phil Berger explores how the massive amount of development underway in the South Loop is shaping the comparatively new neighborhood in his story in the Winter edition of New Homes Magazine, out Friday.
When Jim and Laura Munro moved into their Central Station townhome in 2002, they knew the South Loop would grow, but they weren’t prepared for what happened during the next five years.
“We didn’t expect this amount of inundation,” Laura says. “We were attracted to the area because it was quiet and, at least when we moved here, a little off the beaten path, but at the same time, so accessible.”
Indeed, the pace of development in the neighborhood directly south of the Loop has been phenomenal. Since 1990, the number of housing units in the area bounded by Congress Parkway, Lake Shore Drive, Cermak and the south branch of the Chicago River has roughly doubled, according to U.S. Census figures compiled by Metro Chicago Information Center. And in 2006, the South Loop accounted for 53 percent of the 6,582 new condos that entered the downtown market, according to housing analyst Appraisal Research Counselors.
The overall real estate market has softened, but the South Loop continues to outperform all other downtown neighborhoods in residential development.
Read more in New Homes Magazine’s story on the evolution of the South Loop.
Here come the NIMBYs!
I don’t know how anyone can complain when they’ve got all of the new parkland, museum campus & the lakefront right there.
The South Loop should be dense. Quit complainin’, NIMBYs! The gang-plank sydrome really drives me nuts.
What the South Loop needs is more highrise construction of the potential quality of X/O and lots more people. People mean schools, taxes, retail, better restaurants, and better public transit.
It also needs more cowbell.
To paraphrase the “Blues Brothers”
Jake: Hey, what’s going on?
Officer: Ah, those bums won their courtcase so they’re stopping all construction and marching.
Jake: What bums?
Officer: The freaking Nimbys
Elwood: Illinois Nimbys….
Jake: I hate Illinios Nimbys.
I also believe in denser construction where appropriate in my neighborhood. What this city needs, besides a political revolution followed by show trials and walking the plank, is more PEOPLE. Particularly people of the middle or upper income variety who pay taxes and support local businesses. More taxpayers means the tax burden can be spread out and more money for needed government services like education and TRANSIT.
I wouldn’t be counting on too many additional taxpayers coming into view anytime soon – unless the Aldercreatures get a backbone and take on Daley for once in their lives. Maybe our state reps can get real with Blago as well – in my dreams.
“potential quality of X/O” – He will be here all week folks, don’t forget to tip your server.
Gee Jeff,
humor is supposed to be creative. I guess you don’t understand that. Just like you don’t understand X/O.
However, I am confident that you could spell X/O given coaching and a proper amount of time.