The Opera Lofts

About the Building

The history of this building is almost as interesting as its lofts are spacious. For much of the 20th century, this site served as the fabrication and design center for the Chicago Lyric Opera, and thousands of opera sets were constructed and stored here. Recently though, the building has been renovated and converted for residential use, and the building, which is located at 2545 S. Dearborn in Chicago's up-and-coming South Loop neighborhood, is now home to 93 separate condos.

In this day and age, there are some essential elements that we just expect have in our urban dwellings, while other features are an added bonus that make the city lifestyle that much sweeter. The units at 2545 S. Dearborn incorporate the basic necessities with a touch of luxury, from the handy building services and facilities to the amenities of your private abode. The building's floorplans, which include anywhere from 1 to 2 bedrooms, come in all different square footages to suit the needs of homeowners with varying family sizes. The average master bedroom is 226 square feet, although some can be as large as 320 square feet. The second bedroom is typically 132 square feet, still a good amount of space for the growing members of the household, or a great spot for the home office. And, in case your family includes a lovable cat or dog (or fish or bird, etc.), the building is pet-friendly.

The price per square foot for property at 2545 S. Dearborn is $235. From listing to closing, the standard length of time a unit in this building stays on the market is around 60 days. In regards to properties that are currently for sale, the average number of days a 1-bedroom unit has been listed for is 124. There are currently few 1-bedroom residences available in this great development, that maintain an average listing price around $292,400. In addition to the upfront price for real estate in this striking residential structure, it's helpful to know how much assessments and taxes are, since you'll be paying those on top of the mortgage. For this particular building, the average assessments are $217 per month and taxes cost between $1,500 and $4,000 per year.