Yesterday Crain's Chicago had two stories pertaining to South Loop real estate. The first had to deal with an auction for the parcel of land at 1000 S. Michigan. The land at one point had been a purposed high rise (however, what piece of land in the South Loop didn't?!?!?!). The land is still very desirable as it's on Grant Park and is on a pretty high profile stretch for the city.
The second real estate article we read yesterday was about the 35-story Lexington Park building (2138 S. Indiana). Many people on Sloopin have been trying to get to the bottom of what is going on with this building and this article definitely sheds some light on the situation. Amazingly only three units have closed in the building.
However, this past weekend we walked by the Lexington Park building and contemplated what might be eventually. Although the "Cermak corridor" has definitely felt the ramifications of the recession, many (including us) feel as if this area will at some point make a turn for the better. There is talk about a Green line stop on this stretch and now that the Ickes homes have begun to be cleared, our guess is that this stretch will move away from its negative connotation.
(Hat Tip: Solo & JG!)