Renters in the Lake View area who want to buy a home at a competitive price in what is a popular real estate market, have been drawn to The Lofts at the Vic, according to developer Joseph Freed.

The building is a majestic, gray masonry former savings and loan bank that was built in 1929 just before the Great Depression hit. In such a climate of economic chaos there was, sadly, no use for the grand building and it closed several years later. During World War II the Rationing Board used the old bank building to disburse food and other goods to those in need, serving up to 2,000 Chicagoans a day, according to stories at the time in the Chicago Tribune. The top three floors of the building were utilized by the Montfield Hotel. 

But in 2005, the building became a permanent home, with its conversion into The Lofts at The Vic. 

Features

Loft fans will discover a structure with raw concrete ceilings soaring from nine to 14 feet and exposed ductwork.

The units are finished with hardwood oak floors in a variety of stains, including a dark “espresso” hue. In the kitchen, quartz countertops in white, blue, black, brown or yellow, are a departure from the granite found in many loft projects.

Amenities

Unlike loft developments in less-established neighborhoods, which often offer fitness centers and meeting rooms, The Lofts at the Vic offers few amenities - a laundry and bike storage facility.

That’s partly because much of the first floor is taken up by a large Walgreens pharmacy, but the neighborhood is also in demand among buyers.

Location

The location in question is the bustling corner of West Belmont and North Sheffield avenues. The development sits across the road from its namesake, the iconic The Vic, a grand performance venue and cinema.

Restaurants, bars and boutiques pack the surrounding streets, and the Belmont and Wellington el stops are a short walk away.

“You are seeing a lot of people giving up their car,” said Erin Diedling of Joseph Free Homes.

Buyers were mostly single twenty and thirtysomething people, along with a handful of investors, she said.

The development company is mindful that it is vying for buyers’ attention with the new-construction projects that are popping up all over the trendy West Loop, but the gravitational pull of Lake View remains strong, she added.

“People were finding that they were spending a lot of their time in the evenings and weekends in Lake View, or they were spending their summer by the lake and wanted to be able to live here.”