One of the up-and-coming Chicago neighborhoods, West Loop Gate features warehouse and light manufacturing plants that have been converted into residential lofts. Residential real estate prices have skyrocketed in recent years, and the community is being discovered by people who desire to be close to downtown shops, restaurants and cultural institutions. It also affords some residents the convenience of being able to work and live in the same neighborhood.
West Loop Gate, which is located south of the Eisenhower Expressway and west of Michigan Avenue encompassing the Randolph Street Market, boasts a fascinating history that dates back to the 1800s. At that time, many single-family dwellings were torn down to make way for warehouses and manufacturing plants that were situated around the Randolph Street Market. On May 1, 1886, a nationwide strike for the eight-hour work day took place in this historic area; the strike, in which many people were killed, was later referred to as the Haymarket Riots. Today, those events of more than 100 years ago are commemorated on what's known as May Day.
In the 1920s, West Loop Gate became a melting pot with different cultures moving into the neighborhood. By the 1950s, however, the community was divided along ethnic, racial and religious lines. In 1961, the University of Illinois built a campus in the neighborhood, and a residential and institutional building boom took place. By the 1970s, the neighborhood had become run down, but still retained some of its earlier charm with wide boulevards, open space, large manufacturing buildings, and beautiful views of the city.
Today, the industrial buildings have been converted into loft apartments, and new construction is proceeding at a rapid pace. Upscale restaurants and more than a dozen trendy art galleries have invaded the neighborhood, and there is no sign that the rapid rebirth of the neighborhood will slow down anytime soon.
In January, 2006, the price of a one-bedroom condominium loft or condo ranged from $220,000 to $419,000; the price of a two-bedroom condo or loft ranged from $253,000 to $1,350,000, and the price of a three-bedroom loft or condominium was priced from $399,750 to $1,750,000.
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One of the up-and-coming Chicago neighborhoods, West Loop Gate features warehouse and light manufacturing plants that have been converted into residential lofts. Residential real estate prices have skyrocketed in recent years, and the community is being discovered by people who desire to be close to downtown shops, restaurants and cultural institutions. It also affords some residents the convenience of being able to work and live in the same neighborhood. 
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