loop will soon be home to a brand new 200,000 square foot office building.
Since construction began on the building last year, new construction and tear
downs have been a daily occurrence. What
once was a predominant industrial area, is slowly turning into one of the
hottest areas in Chicago. Here are some
of the top reasons to buy some real estate here before it is too late.
Jobs – Google’s new home which is the old Fulton
Market Cold Storage warehouse will generate 500+ jobs. Employees moving to this new office will need to purchase or rent new residences near the building. Also, this will generate a ton of revenue for local businesses.
Restaurants – Chicago is home to some of the
best restaurants in the country, but majority of the top rated ones are located
right near the new Google building. Next, located at 953 W. Fulton Market
was rated top in the city by UsaToday. There are many new and “celebrity filled”
restaurants that have just opened up this year alone, such as the Soho House, which is also in New York
Rental Market – Maybe this area has too much
excitement for you. If that is the case,
then purchase it as an investment and rent it out. Median rental price for a 2 bed 2 bath condo
is $2,650 up from $2,350 in 2013. Make
sure you contact me before you do.
Sales Prices – Over the past year and a half,
values have appreciated almost 20%. As
soon as this Google building is completed, it will go up even more with the
demand becoming higher.
|Property Values Have Appreciated 20% since 2013|
Transit – The Google building is located in an
area of Chicago that has great transportation options. Whether you are taking
the L, driving your car, or taking the bus.
Google’s location has it all. It
is home to the Morgan Street Station
which was completed in May of 2012. It
provides easy access to both the city and the suburbs. In addition to the “L”, it
has great access to all the major highways I90, I290, and I94.
the Fulton Market District in the West Loop would be a great choice for you. I definitely recommend it considering I
currently reside here. Please feel free to contact me if you have any questions
or need an agent in your next Chicago real estate transaction, especially if it
is for homes near the new Google building in Chicago.