Get a 2/2 With Parking Across from Grant Park for Under $340K: 330 S. Michigan
This 2-bedroom in 330 S. Michigan across from Grant Park in the Loop came on the market in June 2015.
At 1100 square feet, it has a split floor plan with hardwood floors in the living area and carpet in the bedrooms.
The kitchen has maple cabinets, white appliances and green stone counter tops.
This unit doesn’t have Grant Park views but it has windows in each of the rooms.
It has the features buyers look for including central air, washer/dryer in the unit and garage parking is included in the price.
This unit has already been under contract once but has since reduced $35,900 to $339,000.
Is this a deal?
Jason Webb at City Point Realty LLC has the listing. See the pictures here.
Unit #1510: 2 bedrooms, 2 baths, 1100 square feet
- Sold in February 2000 for $196,500
- Sold in April 2003 for $210,000
- Originally listed in June 2015 for $374,900
- Reduced
- Under contract once
- Currently listed for $339,000 (includes the parking)
- Assessments of $582 a month (includes water, parking, doorman, cable, exterior maintenance, exercise room, snow removal)
- Taxes of $3740
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×12
- Bedroom #2: 11×10
- Living room: 19×17
- Kitchen: 10×7
The unit needs a lot of updating but this is a good deal for the size and location
This gets under contract in two weeks with the price decrease. Excellent deal, reasonable assessment and very low taxes. Almost too good to be true. Wonder if there are other issues with the building…
The fact that it went under contract and is now 36k lower tells me there may be an issue that isn’t obvious.
Great building with great location, but I’d want to gut the unit and start all over again. The high ceilings are wasted with the dropped ceilings, and the appointments are all ugly and outdated.
Love the low taxes and hope they don’t rise too much in the near future. The assessment is reasonable when you consider it includes parking, a very major item downtown. But it does not include heat, which might run high here, depending on how well the place was insulated when it was rehabbed.
I believe the appearance of the unit was the cause of the dropped price.
That Bud Light Louisville Cardinals National Champion neon sign really ties the room together
but seriously the realtor needs to tell this dumbarse that ‘frat boy’ motif needs to go and take new pictures if he wants to sell the place at a decent price
I wonder if the contract failed because of a contingency on the buyers part rather than a fail with the building or unit (or they found something nicer)? That said, there is something depressing about this unit with the cheap commercial register above the island and the florescent cloud too – I agree with Laura about the ceilings and appearance, it’s very blah. The views aren’t that great either.
” the cheap commercial register above the island”
haha–that’s the kitchen exhaust. horrible!
“I wonder if the contract failed because of a contingency on the buyers part rather than a fail with the building or unit (or they found something nicer)?”
If that was the case, I wouldn’t expect a drastic price cut after it.
Or the seller needs to get out (and do we know if this is owner occupied or rented out?) more desperately now.
This was a product of an unsuccessful “neither fish nor fowl” partial residential “Home Depot-quality” condo conversion of a high-vacancy Class C office building. Probably okay as an investment unit geared to college student rentals, but not a good choice for an owner-resident.
“Or the seller needs to get out (and do we know if this is owner occupied or rented out?) more desperately now.”
The listing says it was leased through July 31.
Don’t forget- this is the fall selling season. It’s not as strong as the spring/summer. And if you don’t sell by Thanksgiving, it pretty much grinds to a halt until February. So some sellers will be eager to just get a contract right about now.
“That said, there is something depressing about this unit with the cheap commercial register above the island and the florescent cloud too”
Paint can do amazing things. Some relatively inexpensive light fixtures too. It’s stunning to me how few people can actually see beyond what is there. But they can’t.
That’s why they want move-in ready. That’s why anything that is a fixer isn’t selling. Even if it’s priced right. That’s why if you paint your walls gray and stain the floors espresso, it will sell quickly.
Gee thanks I get to pay the owner 150 grand over what they paid for this ugly rental unit. Lol.
I thought about making an offer on this, but found the building has a cap on rentals, so an investor can’t buy this unit and rent it out. That’s a shame, because this would be an ideal rental unit for students at the nearby schools.
Sold this month for $310k.