Why Two Condos in the Same West Loop Building Sell for Very Different Prices
If you own a condo in the West Loop, you might assume your unit is worth whatever the last one sold for in your building.
That is rarely true.
I regularly see two nearly identical condos in the same building sell for dramatically different prices. Sometimes the difference is tens of thousands of dollars.
Here is why.
Floor Height and Exposure Differences
In buildings throughout the West Loop, floor height matters. A lot.
Higher floors typically offer:
• Better natural light
• More privacy
• Better city views
• Less street noise
Exposure also plays a major role. A south or west facing unit with strong light can feel completely different from a north facing unit overlooking an alley or brick wall.
Even if the layouts are identical, the experience is not. Buyers pay for light and views. Always.
Renovation Quality Versus Renovation Cost
Not all upgrades are created equal.
I often see sellers spend significant money renovating, only to discover buyers do not value those updates the same way.
Buyers respond to:
• Cohesive design
• Neutral finishes
• Updated kitchens and bathrooms
• Move in ready condition
They do not necessarily care what you spent.
A smart renovation aligns with current buyer expectations in the West Loop market. An overly customized or dated renovation can actually hurt value compared to a clean, well maintained unit.
Timing and Competition
Market timing can shift pricing even within the same building.
Inventory levels in the West Loop fluctuate throughout the year. If you list when:
• Multiple similar units are active
• Interest rates jump
• Buyer activity slows
You may face stronger negotiation pressure.
On the other hand, listing during a low inventory window can create urgency and multiple offers.
The difference between selling into competition versus scarcity can easily account for a noticeable price gap.
Buyer Psychology
Real estate is emotional.
If a buyer falls in love with:
• The light
• The staging
• The feeling when they walk in
They stretch.
If they feel neutral or uncertain, they negotiate.
Presentation drives perception. Professional photography, strategic staging, and strong pricing strategy influence how buyers anchor value in their minds.
Two identical floor plans can produce completely different emotional reactions.
How to Avoid Being the Lower Sale
If you are thinking about selling your West Loop condo, your goal is simple.
Do not become the lower comp in your building.
Here is how we protect your price:
-
Strategic pre market preparation
-
Honest renovation guidance
-
Data driven pricing
-
Strong launch timing
-
High impact marketing
The difference between average and strategic execution can be substantial.
In a competitive building, small decisions have large financial consequences.
If you want to understand exactly where your condo fits in today’s West Loop market, I am happy to walk you through it.
If you are considering selling your condo, do not rely on the last sale in your building to set expectations.
I will show you exactly how your unit compares, where buyers see value, and how to position your condo to protect your price in today’s market.
Pro Tips:
Downtown Chicago Neighborhood Market Reports
See Exactly How I market Properties
