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Real Estate Prices & Overview

South Loop median real estate price is $837,138, which is more expensive than 96.0% of the neighborhoods in Illinois and 86.2% of the neighborhoods in the U.S.

The average rental price in South Loop is currently $4,241, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.0% of the neighborhoods in Illinois.

South Loop is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

South Loop real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the South Loop neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

South Loop has a 9.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Occupations

The South Loop neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.7% of the neighborhoods in America. In fact, 74.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the South Loop neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.4% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the South Loop neighborhood.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 39.5% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.9% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.8% of residents in the South Loop neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

If you love row houses and attached homes, you will probably really like the South Loop neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 26.7% of the residential real estate here is classified as row houses and attached homes.

Diversity

Did you know that the South Loop neighborhood has more Russian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.6% of this neighborhood's residents have Russian ancestry and 3.2% have Portuguese ancestry.

South Loop is also pretty special linguistically. Significantly, 5.2% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 95.2% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the South Loop neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.8% of the neighborhoods in America. With 11.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.7% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the South Loop neighborhood, 74.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.7%), and 4.5% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the South Loop neighborhood is English, spoken by 76.0% of households. Other important languages spoken here include Chinese, Spanish and Langs. of India.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the South Loop neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as German (14.7%). There are also a number of people of Asian ancestry (14.3%), and residents who report Irish roots (10.2%), and some of the residents are also of Italian ancestry (9.8%), along with some English ancestry residents (7.4%), among others. In addition, 18.5% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in South Loop neighborhood spend between 15 and 30 minutes commuting one-way to work (57.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (38.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (14.3%) and 8.0% of residents also take the train for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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