The Loop is the central business district of Chicago, Illinois. It is one of the city's 77 officially designated community areas. The Loop is home to Chicago's commercial core, City Hall and the seat of Cook County. The community area is bounded on the west and north by the Chicago River, on the east by Lake Michigan, and on the south by Roosevelt Road, although the commercial core has expanded into adjacent community areas. As a business center, the Loop hosts the Chicago Board of Trade and Chicago Mercantile Exchange. The Loop is home to Grant Park, the State Street shopping district, and the Art Institute of Chicago. Other major cultural institutions that call this area home include the Chicago Symphony Orchestra, the Lyric Opera of Chicago, the Goodman Theatre, the Joffrey Ballet, the central public Harold Washington Library, and the Chicago Cultural Center.
In what is now the Loop Community Area, on the south bank of the Chicago River, near today's Michigan Avenue Bridge, the U.S. Army erected Fort Dearborn in 1803. It was the first settlement in the area sponsored by the United States.
Currently, the average rents in this neighborhood are approximately:
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