The condo market right now
West Loop condos have been selling quickly. Homes.com data for August 2026 showed a median condo price of about $475,000, an average of 27 days on market and roughly 160 condos listed, the fastest pace among six downtown-area neighborhoods compared, ahead of the South Loop, River North and Streeterville.
At the top of the market, a penthouse at One Fulton Bond, 224 N. Elizabeth St., went under contract in September 2026 for $8.5 million. If it closes, it would be the highest condo price recorded in Fulton Market, above the prior high of about $7.6 million. The tower is still under construction, with delivery targeted for 2029.
New towers and zoning
Residential construction continues to push west and north of Randolph Street:
- 215 N. Racine Ave.: a 29-story tower with 347 apartments, 70 of them affordable. City Council approved it on June 18, 2026, after the Plan Commission granted DX-16 zoning, the first Downtown-level density in the district, over the zoning administrator's objection.
- Julep West Loop: a 25-story building with 380 apartments, 76 affordable, and a grocery-anchored ground floor. It broke ground September 15, 2026, with completion expected in early 2028.
- 900 W. Fulton Market: a mixed-use redevelopment combining two rehabbed buildings and a new five-story building, with retail, offices and nine residences. City Council approved it in January 2026.
Higher-density approvals change what nearby owners can build and what buyers may see from their windows in a few years. Before buying, it's worth checking pending zoning applications on the surrounding blocks.
The office market
Fulton Market has had the lowest office vacancy in Chicago, about 10.9% in early 2026 compared with roughly 22.6% citywide, as reported by the Chicago Sun-Times. The Fulton, a $350 million, 535,000-square-foot office building at 919 W. Fulton St. that incorporates the former Schwinn factory, opened in January 2026 at about 60% leased. It was the only high-end office building to break ground in Chicago since 2023.
What it means for buyers, sellers and investors
- Buying new construction: developer purchase agreements aren't the standard Multi-Board contract. Review delivery dates, deposit escrow, upgrade terms and what happens if construction is delayed before you sign. See condominium representation.
- Buying resale condos: review the association's Section 22.1 disclosures, reserves and any special assessments. See the condo disclosure guide.
- Selling: with homes moving quickly, have your disclosures and condo documents ready before you list. Estimate your take-home with the seller net proceeds calculator.
- Investing and commercial: leases, zoning and entity structure matter as much as price. See commercial real estate.
Market figures here are drawn from published reports as of October 2026 and change monthly. This page is general information, not a forecast or advice for a specific property.
Sources: Option Premier, citing Homes.com August 2026 data · Hoodline, One Fulton Bond · Chicago YIMBY, 215 N. Racine · Chicago Sun-Times, DX-16 approval · Yield PRO, Julep West Loop · Chicago YIMBY, 900 W. Fulton Market · Chicago Sun-Times, The Fulton
Questions clients ask
Where is your office?
159 N. Sangamon St., Suite 200, in the Fulton Market District of the West Loop. Consultations are available in person, by phone or by video.
Do you review new-construction purchase contracts?
Yes. Developer contracts are drafted by the developer, so it's important to review deposit, delivery, delay and upgrade terms before signing.
How often is this page updated?
The market figures are reviewed periodically. For weekly updates, subscribe to Weekly Market Insights.