Could the Next Wave of South Loop Development Be on the Way? | South Loop Real Estate For Sale

Posted by Helaine Cohen on Sunday, October 26th, 2014 at 6:52pm.

If you're looking for a location in downtown Chicago that might make for a good long-term investment, you might want to consider the South Loop neighborhood for your next home or condo, as it looks as if the next wave of development is right around the corner for this ever-evolving part of the city.  

While it may feel like yesterday to some, the city of Chicago first announced plans to build a brand new, state-of-the art basketball arena for DePaul University all the way back in May of 2013, with hopes of construction starting sometime in 2014. And although the deadline for groundbreaking in 2014 might have been missed, it seems the project will finally move forward in January of 2015, according to several reports that surfaced on Friday.  

With an expected completion date of sometime before February 2017, it'll be exciting to see how the striking new Pelli Clarke Pelli-designed arena will impact future development around the South Loop area. Prior to the housing crash of 2008, the South Loop was one of the fastest developing neighborhoods in Chicago, and given its close proximity to the lakefront, Museum Campus, the easy access to the Loop, DePaul's exciting new athletic complex could just be the push Chicago's South Loop needs to regain its fast-moving development pace.

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Helaine Cohen, Chicago Real Estate Broker

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