Michael and Angelique Parker of west suburban St. Charles are proud parents of seven children, six of whom are grown and out of the house. Their seventh is still 13 years old, but they are wasting no time in preparing for their empty-nest years.

"We've been thinking about this for three years," Michael Parker said.

About a month ago, they scouted out Chicago's Printers Row neighborhood in the South Loop and immediately decided to purchase a condominium unit in Printers Corner, a 17-floor building to be constructed at Polk and Wells streets. They will use it as a secondary residence for weekends until their youngest goes off to college.

"The neighborhood has a lot of appeal for us, with the old Dearborn Station, and we also wanted a building with a limited number of units" for a feeling of intimacy, Parker said.

Printers Corner will have only 88 units, and all will have corner views because of its creative design. Affordability and proximity to downtown were also draws for the Parkers. One-bedroom units start at $275,000, two-bedrooms at $350,000.

The South Loop may be known as a magnet for hip young things and single professionals, but the area has been increasingly attracting a more diverse group of buyers, including suburban empty nesters and young families. The changing demographics of the area, along with the tapping out of loft buildings available for residential conversions, is contributing to the South Loop's new construction boom that's producing both loftlike and traditional condominium styles.

"Fifty percent of our [South Loop] buyers are suburban buyers," said Jim Colella, general manager of Garrison Partners Inc., a Chicago residential real estate marketing company. "They are probably the largest growth market right now; it's not just the young kids anymore."

Garrison Partners represents several new-construction condominium developments, including Aristocrat Tower and Chess Lofts, at Cullerton and Prairie streets, and Printers Corner.

In this year's first quarter the South Loop was the most active downtown neighborhood in new project developments, according to a report by Appraisal Research Counselors, of Chicago.

The report states that about 44 percent of first-quarter downtown sales occurred in the South Loop. Approximately 1,300 condominium units are planned for completion in the South Loop during 2006, according to Gail Lissner, vice president of Appraisal Research.

Total downtown sales of 1,850 new units were 20 percent higher than during the record-breaking first quarter of 2005.

Meanwhile new-home sales for the entrie country were shrinking 5.7 percent in April, to 1.2 million from 1.27 million a year ago.

Lissner also reported that South Loop properties currently on the market range between $270 and $600 per square foot, with 80 percent falling between $300 and $400 per square foot.

Colella said the new South Loop developments are playing off the success of Central Station, a large-scale redevelopment project at the southern end of Grant Park that began in 1990. Central Station has served as the anchor for the revitalization of historic Prairie Street and the greater South Loop.

Unlike Central Station, whose most famous resident is Mayor Richard Daley, Chess Lofts and Aristocrat Tower are considered affordable, with one-bedroom units starting in the high $100,000s.

"With changes being made to the schools in the area and new charter schools coming in, we see more young families with young children," said Bonnie Sanchez-Carlson, president and executive director of the Near South Planning Board.

"And older couples who left the city to raise their kids and now want to be back in the city are also coming back to enjoy what downtown has to offer," Sanchez-Carlson said.

"Our patrons range from their early 30s to their late 50s," said Christi Cooke, general manager of Kroll's South Loop, a popular restaurant at 1736 S. Michigan Ave.

At the same time, developers and real estate agents have no intention of turning their backs on young professionals who continue to flock to the neighborhood for loft living.

"I'm still selling more loft-style units than traditional-style condo units," said Joanie Edelberg, a real estate agent with @@properties.

She said many families have been moving to the Museum Park area, which is full of loft-style properties, though it also includes the Central Station development. She also cited a new development named Lexington Park at Michigan Avenue and Cermak Road, which will include a seven-story midrise of loft-style units and a 35-story traditional condo highrise.

Last month, the Chicago Plan Commission approved plans for the Roosevelt Collection, a vast mixed use development to be generally located at Roosevelt and Clark Streets. The retail component of the project will sprawl over 450,000 square feet.

Two of the residential buildings will be designed as five-story loft-style residences, while the third will be a traditional luxury condominium.

"We see the loft buildings attracting younger buyers, while the tower would be more of a luxury building with more amenities," said Howard Hirsch, president of Hirsch Associates, the architecture firm that is designing the residential portion of Roosevelt Collection.