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The Loop

The Loop

Urban Core Neighborhood in Chicago, Illinois

Cook County 60601, 60602, 60603, 60604

$462,365 Average Value
$388 Average Price per Sq Ft
99 Homes For Sale

Iconic Chicago cityscape

This community is more than the skyscrapers of the country's second largest business district. “A lot of people don’t see or consider the Loop a neighborhood, particularly for a 24-hour city, but it’s changed in its perspective and its reality in the past three to five years,” says a lifetime Chicagoan Ariella Gibson, Director of Marketing and Communications at Chicago Loop Alliance. “The services that you can utilize are different than what people might’ve assumed.” State Street’s shops and Grant Park’s recreational options barely skim the surface of all that the Loop encompasses. On the weekends, locals join the foot traffic along Lake Michigan’s waterfront and on the way to the neighborhood’s many famous attractions, including the Art Institute of Chicago and the James M. Nederlander Theatre.

The Loop is located at the epicenter of downtown Chicago.
The Loop is located at the epicenter of downtown Chicago.
The Lakefront is a popular place to unwind for residents of The Loop.
The Lakefront is a popular place to unwind for residents of The Loop.
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State Street shops and Wacker Drive dining

The Loop holds numerous grocery and shopping options, from everyday staples such as Target and Mariano’s to specialty stores like South Loop Market and Bockwinkel’s. Locals grab bites of salmon lox and wash it down with homemade root beer under the red glow of neon signs at retro Eleven City Diner. Along Wacker Drive, chefs serve seafood dishes and prime cuts of steak on white tablecloth-covered tables. Shoppers spend afternoons browsing at major retailers down State Street, from Macy’s department store to Sephora and Banana Republic in Block 37 Mall. Property crime rates in the Loop score higher on the CAP Index than the national average.

Target is located in the famous Sullivan Center designed by Louis Sullivan in The Loop.
Target is located in the famous Sullivan Center designed by Louis Sullivan in The Loop.
Macy's is one of the largest retailers located in The Loop.
Macy's is one of the largest retailers located in The Loop.
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Mixed-use and million-dollar homes by Lake Michigan

Given the premium on space, condos are the primary form of housing here. “The amenities and the accommodations of properties in the Loop are very commiserating with other iconic major metros like New York City and LA, but they’re more affordable, so you’re getting the bang for your buck because you’re getting all these options and opportunities and things to do and see without the pressure of these other coasts,” Gibson says. Many buildings are mixed-use, with commercial tenants on the ground floor. Styles range from luxury high-rises overlooking Lake Michigan to renovated units. Half of the residences were built after 2000 and feature mostly glass exteriors. Condos closer to the park and lake list between $350,000 for a one-bedroom and $3.2 million for a four-bedroom. Meanwhile, western units may list between $163,000 and $350,000 for a one-bedroom.

Condo buildings in The Loop feature wonderful views of Grant Park and the lakefront.
Condo buildings in The Loop feature wonderful views of Grant Park and the lakefront.
Midrise Lofts are a popular option for condo buyers in The Loop.
Midrise Lofts are a popular option for condo buyers in The Loop.
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Cloud Gate and whimsical fun

Grant Park, covering 312 acres, forms the neighborhood’s eastern border. Locals enjoy lakefront views within the park, attend music events, or stroll between visits to the Shedd Aquarium and Adler Planetarium. Millennium Park, in Grant’s northwest corner, is famous for public art pieces like Cloud Gate, often called “The Bean,” a metallic archway reflecting downtown Chicago. Next door, children climb the whimsical playground while other parkgoers practice ice skating and rock climbing within Maggie Daley Park’s 22 acres. Buckingham Fountain sits at the center of Grant Park, spraying water with mood lighting, creating a majestic display.

Faces at Millennium Park make a great selfie spot for tourist and locals alike.
Faces at Millennium Park make a great selfie spot for tourist and locals alike.
The Loop's Grant Park is full of statues dedicated to historic American figures.
The Loop's Grant Park is full of statues dedicated to historic American figures.
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Seasonal offerings like Taste of Chicago

The Loop is loaded with summertime events, whether free concerts in Grant Park or five days of foodie festivities at the Taste of Chicago, drawing millions of visitors every July. As part of the Millennium Park Film Series, Gibson says, “On eight different Tuesdays during the summer, they play iconic or new movies in the park. They have popcorn, you can bring your blanket and drinks; it’s really cool and unique.”

Commuting with Chicago Transit Authority

Commuters take one of the many Chicago Transit Authority (CTA) busses or “L” rail options into the city each work week. “The transit is phenomenal,” Gibson says. “The Loop is literally the most accessible downtown and one of the most accessible neighborhoods in Chicago, so you can go anywhere in the city from the Loop and come from anywhere in the city to the Loop; that’s why Chicago Alliance considers it ‘everyone’s neighborhood.’”

The Loop is a major public transportation hub with several CTA L lines running through it.
The Loop is a major public transportation hub with several CTA L lines running through it.
The Loop residents are able to take advantage of the CTA bus lines.
The Loop residents are able to take advantage of the CTA bus lines.
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South Loop schooling

While public schools are scarce within the Loop, students may walk or take a bus to charter and private schools in the neighborhood. If residents prefer to enroll their students in Chicago Public Schools, then their students may attend South Loop Elementary School, a kindergarten through eighth-grade option. South Loop earns a Grade B-plus from Niche, while Wendell Phillips Academy High School, where students may start in ninth grade, earns a Grade C-minus. This high school lets students get a head start on their post-secondary education with Career and Technical Education (CTE) options and five Advanced Placement (AP) courses. After graduation, these students show the most interest in attending Northern Illinois University and Illinois State University, according to Niche.

South Loop Elementary School is a Magnet Cluster school and serves students in the neighborhood.
South Loop Elementary School is a Magnet Cluster school and serves students in the neighborhood.
Phillips Academy High School is located in the Bronzeville neighborhood of Chicago, Illinois.
Phillips Academy High School is located in the Bronzeville neighborhood of Chicago, Illinois.
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Entertainment along Randolph Street

Not only is the Loop known for its extensive business and recreational opportunities, but it also includes spaces for residents to take cultural adventures. The Art Institute of Chicago – with over 250,000 holdings – is one of the oldest and largest museums in America and worldwide. Randolph Street, near the neighborhood’s northern border, is a center for the performing arts. “There are about six theaters in that geographic area that host Broadway and Chicago performances, other major arts and entertainment performances, concerts and the Chicago Theater where pretty much anybody takes a photo when they’re visiting or if they’re from Chicago,” Gibson says. While tourists plan trips to the Loop to enjoy Grant Park activities, shop down State Street and catch a show, residents only need to leave their complex to take advantage of these amenities.

The Art Institute is a long time landmark of The Loop dating back to 1879.
The Art Institute is a long time landmark of The Loop dating back to 1879.
The Loop is home toe many famous landmarks like The Nederlander Theatre.
The Loop is home toe many famous landmarks like The Nederlander Theatre.
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Lauren Melton
Written By
Lauren Melton
Evan Brightfield
Photography Contributed By
Evan Brightfield

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Schools

Source:
GreatSchools: The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process. View GreatSchools Rating Methodology

Interested in learning more about homes in this area? Reach out to Leticia Jimenez, an experienced agent in this neighborhood.

Parks in this Area

Transit

Airport

Chicago Midway International

18 min drive

Train

Museum Campus/11Th St Station

Train

Van Buren Station

Train

Chicago Millennium Station

Subway

Clark/Lake Station (Downtown Loop)

Subway

Adams/Wabash Station (Downtown Loop)

Subway

Randolph/Wabash Station (Downtown Loop)

Subway

Madison/Wabash Station (Downtown Loop)

Subway

Monroe Station (Red Line)

Subway

Jackson Station (Red Line)

Subway

State/Lake Station (Downtown Loop)

Subway

Washington/Wells Station (Downtown Loop)

Subway

Quincy Station (Downtown Loop)

Subway

Lasalle/Van Buren Station (Downtown Loop)

Subway

Lake Station

Subway

Monroe Station (Blue Line)

Subway

Jackson Station (Blue Line)

Bus

Lasalle & Randolph

Bus

Lasalle & Wacker (Chicago) Pick Up

Bus

State & Jackson

Bus

Wells & Madison

Bus

Michigan & Wacker & South Water

Bus

Jackson & Franklin

Bus

Michigan & Jackson

Crime and Safety

1 - Low Crime, 10 - High Crime The Loop US
Homicide 4 4
Sexual Assault 10 4
Assault with Weapon 7 4
Robbery 10 4
Burglary 10 4
Motor Vehicle Theft 9 4
Larceny 10 4
Crime Score 10 4

Source: WhatIsMyCrimeRisk.com

Demographics and Home Trends

Home Trends

Median Price (12 Mo)
$379,000
Median Single Family Price
$1,450,000
Median 2 Bedroom Price
$449,000
Median 1 Bedroom Price
$260,000
Average Price Per Sq Ft
$388
Number of Homes for Sale
99
Last 12 months Home Sales
170
Months of Supply
7.00
Median List Price
$399,999
Median Discount From 1st List Price
3%
Median Home Sale Price YoY Change
10%

Home Facts

Number of Homes in Neighborhood
2,521
Median Year Built
1987
Avg. Single Family Home Size Sq Ft
1,266
Significantly below the national average
1,936
Average 2 Bedroom Size Sq Ft
1,611
Average 1 Bedroom Size Sq Ft
953
Median Lot Size Sq Ft
14,810

Open Houses

  • Sunday, May 4
    11am - 1pm

    8 E Randolph St Unit 1604, Chicago, IL 60601

    $549,900

    • 2 Beds
    • 2 Baths
    • 1,446 Sq Ft
    • 8 E Randolph St
    • Unit 1604
    • New 21 days ago

    Live at the Center of It All! Welcome to this stunning 16th-floor corner unit in the heart of downtown Chicago-where every direction is a dream for city lovers. This 2-bedroom, 2-bath residence is a walker's paradise, rider's paradise, and extremely bikeable, with a location that places you steps from Chicago's most iconic landmarks, restaurants, and cultural destinations. Step into a home

    Ioana Todericiu HomeSmart Connect LLC

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Distribution of Home Values

Source: Public Records

Homes for Sale

Homes for Rent

Condo Buildings

Interested in learning more about homes in this area? Reach out to Leticia Jimenez, an experienced agent in this neighborhood.

Average Home Value




Source: Public Records

Property Mix - Square Feet

This Neighborhood Has More Renters

Demographics

Total Population
15,421
Median Age
33
Population Density
19 ppl/acre
Population under 18
15.9%
Below the national average
23.8%
Population over 65
8.5%
Below the national average
19.1%

Finances

Median Household Income
$148,143
Significantly above the national average
$71,702
Average Household Income
$170,391

Education and Workforce

High School Graduates
99.4%
College Graduates
91.8%
Significantly above the national average
34.1%
Advanced Degrees
47.7%
Significantly above the national average
13.3%
% Population in Labor Force
69.9%

Weather

Annual Precipitation
34''
Average Winter Low Temperature
20°F
Average Summer High Temperature
84°F
Annual Snowfall
20''

Area Factors

Very Bikeable

Bike Score®

79 / 100

Walker's Paradise

Walk Score®

100 / 100

Rider's Paradise

Transit Score®

100 / 100
Source: Walk Score
Source: Walk Score

Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.

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Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
NEIGHBORHOOD
The Loop