Lofts in Chicago have become some of the most popular city residences available, because they are affordable, provide plenty of space and are usually located very near to work, school and nightlife. Those features make Chicago lofts ideal for students, young professionals, artists, newlyweds and just about anyone who wants to be close to the action.
In Chicago, lofts are usually built in buildings previously used as warehouses, manufacturing plants or large office buildings. So lofts have very high ceilings, ten feet at the very least, and usually a good deal higher (some as high as 25 feet). Lofts usually feature exposed architecture, usually brick, ventilation ducts, pipes, and large windows. The loft should reflect the nature of the building that contains it while offering kitchen and bath areas that effectively use the space available.
Chicago office lofts have many advantages – they're usually available where there is little or no other residential space available. Most are close to public transportation and offer various amenities, like parking, storage, security, exercise facilities, cleaning and much more. There are office lofts all over the city. There are even lofts for sale on Michigan Avenue in the heart of downtown. And despite their excellent location, prices are quite reasonable.
Lofts emerged as a big player on the Chicago real estate scene more than thirty years ago. Demand for Chicago lofts is still a part of the current market as developers seek to satisfy the needs of young professionals who are looking for more affordable urban Chicago properties. That translates to units at $200,000 or less, the price level where demand is the strongest.
Lofts are still popular in areas like Bucktown, Lakeview, Lincoln Park and Ravenswood because of the wave of downtown rehabs that took place in the late 1990s—what might be described as the Chicago lofts’ Golden Age. Office-to-residential projects defined the market in the late 90s when nearly a dozen high-profile Chicago loft properties were completed downtown.
Chicago office lofts are a significant part of the market, but they are no longer being developed at a feverish pace. At one point there was an abundance of developments and inventory began to outpace demand, which caused the prices to drop. Now there are plenty of existing Chicago office lofts, so one can safely say office to residential conversions won't take place on the scale that they did ten years ago, which makes existing lofts more unique and valuable.
The complex at 117 N. Jefferson Street is a good example of an office loft in Chicago. The spot is perfect for an office with access to downtown Chicago and yet readily accessible to all major highways. Plenty of metered and paid parking is also available for visitors to an office here. These office lofts are literally steps from the Metra, the CTA Green Line, and several major bus routes. With office sizes ranging from 1500 square feet to 10,000 square feet and tons of modern amenities-you'll be impressed with this loft-style Chicago office space.
Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of ArticlePros.com and/or its partners.
