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Loop Neighborhood Summary

Updated: Feb 16, 2022

Neighborhood Report

Cost of Living: High

Public Transit: Excellent

Nightlife: Below Average

Restaurants: Average

 

The Loop neighborhood is essentially the Chicago Central Business District (CBD) and is a mix of high-rise office buildings and a few high-rise residential buildings including some apartments and some condos. The Loop is largely known for its many office buildings and headquarters of large corporations and financial firms. The most famous of which is the Willis Tower, formerly known as the Sears Tower. During the work week it is a highly dense area full of professionals, workers, and tourists. However, during the weekend, the Loop feels very empty and will often times have groups of tourists scattered in between the historic high-rises posing for photos.

 

Location

The Loop is the center of Chicago and where all of the commuter trains and subways end. North of downtown Chicago (the Loop) is River North and Streeterville, and west and south of the Loop are West Loop and South Loop, respectively. The Loop has very easy access to all of Chicago's subway lines, majority of the bus routes and all of the commuter railways. The Loop is also where Millennium Park and Grant Park is located, which provides for a very nice green atmosphere right in the center of the city. On the other side of the parks, we have the Lakeshore Trail and beautiful Lake Michigan.

 

Cost of Living

The Loop is a high demand area for professionals who need to be close to their place of work. That said, there are luxury apartments in which rents typically range from $2,000 through $10,000 per month depending on the size, location, newness and the level of luxury of the apartment building. There are also older buildings with studios starting at $1,400 per month. Condos and private homes have a relatively wide range, with some starting at $250,000 and others can exceed $2,000,000+ depending on the historic value, upkeep and size. As all other downtown Chicago neighborhoods, parking ranges from $200 to upwards of $400+ per month. In summary, this a great neighborhood to live in if you want to be a highly productive person or if your work demands many hours from you. The location is highly efficient in terms of public transportation and location of offices for the majority of the professionals in Chicago. The downside is, this area is very empty on the weekends. Take these factors into consideration when making your final decision about moving.

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