Tuesday, April 1, 2014

Bloomberg: South Loop Showing Its Appreciation

Some more good (we think) national real estate news for the Sloop - this time via Bloomberg.  They provide the background:
Showing Their Appreciation
Harbor views, happening culture, a short commute, a huge park, 10 months of sunshine a year. Those are a few of the attractions in Bloomberg Rankings' list of top U.S. neighborhoods in home price appreciation. We plucked these places, one per state, from the 12 states on the list of 50 U.S. neighborhoods with the highest year-over-year rise in median home price. The gains range from pretty juicy to kind of insane. You’ll see.  
Price data come from real estate information website Zillow Inc. Methodology is on the final slide.
Ok, so take this with a grain of salt -  Zillow can be way off, so yeah.

Anyway, here is what they say about the Sloop:
South Loop, Chicago, Illinois Year-over-year gain: 47.5% 
Median sale price, Jan. 2013: $223,175
Median sale price, Jan. 2014: $329,100 
South Loop joins a number of other once-blighted neighborhoods on this list that have been redeveloped and are now hot. The site of former rail yards, it was known for many years more for its vices (as in brothels, burlesques) than its residential virtues.

(Hat tip:  SH!)

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