Welcome to The Loop
History
The Loop comprises the core of the Chicagoland area, bounded to the north and west by the Chicago River, Lake Michigan to the east, and Roosevelt Road to the south. It developed organically out of the first US Government sponsored settlement in the area at the turn of the nineteenth century, Fort Dearborn.
The early settlement was devastated by the Great Chicago Fire of 1871, leaving few buildings of that era standing. Despite the epic proportions of the tragic loss, the fire provided the city with a rare opportunity to start fresh with intensive planning work undertaken to design a world-class downtown for this rapidly growing metropolis on the prairies.
Rubble from the fire was used to reinforce and extend the swampy shoreline, creating vast swathes of new land. Much of this new land was preserved in perpetuity as parkland for the enjoyment of all, giving rise to Chicago’s unparalleled lakeside greenspace now known as Grant and Millenium Parks.
The remainder of the land was redeveloped into a bustling commercial and financial center which attracted thousands of workers from the surrounding neighborhoods and settlements. To accommodate this growth, the city embarked on the construction of one of the most extensive early public transit systems in the world. What began with horse-drawn streetcars rapidly expanded to a network of electrified elevated rail corridors extending from the downtown out into the newly established suburbs. It was in fact the sweeping turnaround loop where all these lines converged that gave the emerging central business district its name.
Later in the twentieth and early 21st centuries, a wave of residential construction began in The Loop, aiming to fill booming demand by workers to live closer to where they work, and closer to the amenities that the central city has to offer. This has made The Loop into the fastest growing residential neighborhood in the city.
Worth Seeing / Things to Do
The Loop has an inexhaustible repertoire of activities and attractions for residents, workers, and tourists alike. Urban waterfront parkland abounds, from Grand Park and its gigantic Buckingham Fountain, to Millenium Park and its iconic Cloud Gate (aka The Bean) sculpture, to the newly inaugurated Maggie Daley Park and Chicago Riverwalk.
The Loop is home to the Theater District, where guests can choose from a variety of plays, musicals, symphonies, and operas on any given day of the year. The world-renowned Art Institute is home to awe inspiring collections from artists around the world and across history.
The Willis Tower, the tallest building in the world for many decades, punctuates the Chicago Skyline, and offers guests breathtaking views of the city, lake, and on a clear day even neighboring states!
Schools
The Loop is a major regional center for higher education and learning. The main campuses of Columbia College Chicago, Roosevelt University, and The School of the Art Institute of Chicago are all located in The Loop, and many other universities have satellite facilities here, including DePaul University, The University of Illinois at Urbana–Champaign, University of Notre Dame, and National-Louis University. The flagship campus of the City Colleges of Chicago is also prominently positioned in The Loop.
The Chicago Public Schools serves The Loop, with residents having access to The South Loop School, Ogden International School, Phillips Academy High School and Wells Community Academy High School. The Loop is also home to Noble charter school Muchin College Prep High School.
Transportation
The Loop is the epicenter of Chicagoland’s extensive urban and regional transportation networks. The CTA Purple, Brown, Green, Pink, and Orange lines all serve the eponymous Elevated (“L”) Loop, and the Red and Brown lines pass through The Loop as high-frequency subways. A plethora of bus routes pass through or serve The Loop, many of which follow newly inaugurated bus rapid transit corridors along Washington, Madison, Clinton and Canal streets, collectively known as the Loop Link.
All Metra commuter rail lines terminate in The Loop, providing easy access to and from the suburbs, and Chicago Union Station is a keystone of Amtrak’s midwestern and broader national networks.
From Redfin:
- Walk Score® 95 / 100 : Walker's Paradise
- Transit Score® 99 / 100: Rider’s Paradise
- Bike Score® 82 / 100: Very Bikeable
Real Estate Market
Studio condominium units in The Loop cost an average of $200,000, while a typical 2 bedroom unit is valued at around $400,000. With prices constantly changing, it is best to call an SGR agent for pricing guidance.
