The traditional loft made its home in areas like the South Loop and the West Loop, but as land values in central neighborhoods soar, both developer and homebuyer have gone in search of opportunities further west of Chicago’s downtown.

The result is projects like McKinley Park Lofts.

The Habitat Company’s 163-unit development is a conversion of an old office building in, as you’d suspect, the southwest neighborhood of McKinley Park. The park of the same name is across the road from the development, and offers basketball and tennis courts and a lagoon, said Rick Gardella of Habitat Brokerage, the company’s marketing arm.

The concrete and steel structure is close to banks, drycleaners, neighborhood retailers, several restaurants and public transport links.  

In January 2006, Gardella said that buyers so far include several police officers, firefighters and “a lot of teachers.”

“It’s on the outskirts of the city and it’s affordable,” he said. In January 2006, units were priced from the $190s.

Features

So what’s on offer inside?

Track lighting, hardwood floors, maple cabinets, white kitchen appliances and carpeted bedrooms are a few of the features. Some of the units include dens, while some feature private balconies. The development also has a landscaped courtyard.

Amenities

In keeping with the trend among many loft developers of providing a lot of amenities in buildings located in less established neighborhoods, The Habitat Company offers a fitness center and party room at McKinley Park Lofts. Parking started at $10,000 in January, 2006.

While the building is a three-story adaptive reuse project – a real estate term for an industrial or commercial building converted to residential use - it also features three stories of new construction on its east side, says Gardella.

In January 2006, Gardella said that the development was about 70 percent sold and first occupancy was scheduled for late May 2006.