If you have an active network connection, your computer will have two IP addresses. The routable IP address (the one DHCP is providing and will allow you to share network resources and access the internet) should be something similar to 192.168.1.x, or in some cases, 10.x.x.x. Your local, or "loopback" IP address is 127.0.0.1. Every computer I've ever dealt with (Linux, Mac, Windows) has honored this. This loopback address is commonly used to test network interface card drivers.
To see exactly what your provided IP address is (the 192. or 10. IP), just go to Start>Run>CMD (enter). In the command prompt, type "ipconfig /all" (without the "quotes"). This will show every IP address your machine has.