Tuesday, February 24, 2009

What Do Miami, Las Vegas and the South Loop have in Common?

If you said, “real estate internet blogs and message boards trying to compare them”, you win.

Someone on yochicago’s message board recently brought up the question, so we tried to defend the Sloop. Although the housing boom can be credited for the large amount of development in these three places, in our opinion that’s where the comparisons should stop:

I understand peoples desire to compare Miami and Las Vegas to the South Loop, but it's really not a fair comparison. Compare Miami to Phoenix or Houston.

If you want to compare the South Loop, compare it to Soho, Chelsea or Harlem in New York. These areas had similar booms to the South Loop. Although they may not be in as good as shape as the upper east/west sides of New York or comparably the Gold Coast in Chicago, they're desirable neighborhoods in large, dynamic cities. As long as Chicago and New York remain viable global cities, these neighborhoods will be well positioned for the long term (unlike Miami and Vegas).

1 comment:

Brady said...

If the sloop is serious about being mentioned in the same breath as Miami and Vegas there will need to be more prostitutes. Also I think the hobos will need to get more creative with their panhandling. Seriously, until this happens it's all just talk . . .