LOOKOUT FOR THE CHICAGO LOOP
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Press Release from:
Katrina Alba
Contact: Angelina Leko Tel. 312.431.8311 LOOKOUT FOR THE CHICAGO LOOP For international property investors, the city of broad shoulders becomes the new city of opportunity. Chicago is smiling. The city’s recent win as Olympic Candidate for 2016 is a crowning stroke for the hidden gem. In the last year Chicago-based condominium developer American Invsco hosted nearly 100 key international brokers and investors to experience their hometown. “The city sells itself,” says Stefano Farsura, President American Invsco International. “We have great projects to sell, and interest from abroad is
overwhelming.” Much of the attention is linked to American Invsco’s new project, 200 N. Dearborn (scheduled to launch in July 2007) in Chicago’s Loop. The Loop is the fastest-growing neighborhood in Chicago, with visitors making the largest segment of retail spenders in the area (Source: Chicago Loop Alliance). Nearly 54,000 students come to the Loop to take classes, making the neighborhood the largest campus in the state of Illinois. The neighborhood transformed in 2006, expanding in several areas: housing, business, tourism/hospitality and the arts. Chicago Tribune calls the Loop activity “a bona fide retail renaissance,” a movement of new businesses looking to savor the record number of tourists, residents and students nestling in the area. The Loop traditionally hosts the Jazz & Blues Festival, Grant Park (Buckingham Fountain and the Grant Park Symphony), and also houses Millennium Park—the prominent new civic center/park that attracts two million visitors each year.
In September 2006, American Invsco launched Century Tower, a condominium conversion located in the Loop, just a few blocks west of 200 N. Dearborn. The same night they nearly sold out all available units. Almost one-fourth of the sales were secured by foreign buyers—a testament to Chicago’s growing international appeal. “Not until I visited Chicago did I realize what I was missing. Here is a flourishing city of beauty, culture, growth and opportunity. New York is business, LA is showbiz—Chicago offers something special,” says Roberto Cavanzo (Global Brokers, Colombia). Mr. Cavanzo is one of the many international real estate professionals to discover Chicago in the last year. It is a place to live and to live fully—and for those betting on Chicago, the possibilities in the Loop show great promise. Founded in Chicago in 1969, American Invsco successfully developed marketed and managed over 40,000 condominiums in more than 40 cities across the United States. With property values in excess of $4.5 billion, American Invsco offers unique opportunities, investment programs and full service to U.S. and foreign investors. For more information on Chicago or 200 N. Dearborn, please contact Angelina Leko at: (312) 431-8311,
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