Best neighborhood in which to exploit the possible decline in real estate values precipitated, among other things, by the mortgage crisis
Audience Choice, City Life, South Loop Add commentsSouth Loop
Chicago magazine blew it the kiss of death just months ago, decreeing it the “hottest neighborhood in America.” Before long, the collapse in credit markets and declining home prices started dominating America’s front pages, making the thousands of new condo units in the works for the South Loop over the next few years a dark cloud over the neighborhood’s recent prosperity. And sure enough, just this month, major real estate developer Lennar Corp. bailed out of a high-rise condo project, even with construction already underway. Of course, the work goes on, now as a rental project, for, while condo prices are no longer rising, downtown rents have hit all-time highs.
Audience Choice
South Loop
Best of Chicago 2007
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