Millennium Park Takes South Michigan Avenue From Drab to Fab
Recently, I talked about closings beginning at The Columbian, at 1160 S. Michigan, which anchors South Michigan Avenue at Roosevelt Road. The renovation of Metropolitan Tower further up the road and the recent re-opening of the sales center at 6 North Michigan (it had been closed for years due to financial problems with the original developer) all show that demand is still there for new construction condos in this part of the city.
Everyone wants to be near Millennium Park, Grant Park and have the lake views.
But it wasn’t that long ago that people would have said you were crazy for wanting to live on South Michigan Avenue.
One of the original conversions on the block was at 330 S. Michigan a 78 unit historic building. It is a non-descript building. You could walk by it a dozen times and not even notice it’s there. Currently, there are four units for sale in the building ranging from $399,000 to $949,000. The largest and most expensive unit has the dead on lake views.
Unit #1706: 3 bedroom, 3.5 baths, 1835 square feet, washer/dryer, two parking spaces available
The listing states it has been upgraded and the pictures show some nice vintage features and an upgraded kitchen.
- Currently listed for 949,000 (has had at least one price reduction down from $999,000)
- Sold in February 2000 for $411,000
Yep, trying to get more than DOUBLE what they paid for it 7 years ago. But the price isn’t that outrageous anymore for the location. In fact, some might consider it to be a “deal.”
Millennium Park changed everything for South Michigan Avenue. It used to be no man’s land. Now it is hip and cool.
Unit #1706 is a lot of unit for the money. There is no outdoor space, due to the historic nature of the building. But otherwise, buyers looking in The Heritage, 910 S. Michigan, and some of the newer buildings like Metropolitan Towers and The Legacy might want to check out the slightly older product. Same great views. Sometimes better prices.
Melinda Jakovich of Coldwell Banker has the listing.
Looks lovely but for a similar price you can get a 3 bed 2.5 bath at the Heritage with the Lake views and a balcony/outstanding ammenities.
Really? What listings? The only ones in the Heritage I see of similar size (nearly 1800 square feet) and price (under $1 million) are all with the “city view” which is west. You can get a 1400 square foot 2 bedroom, 2 bath with the east view of the lake for $835,000 but it’s not similar in size or upgrades. Otherwise, in the Heritage, you’re paying at least $200,000 more.
OK Sabrina, you may be right. Unit 5202 is a 3 bed 2 bath 1700 sq ft unit listed at 950K including a deeded parking space but is facing west.
Unit 2603 is a 3 bed 2.5 bath about 2100 sq ft facing east for 1095000. Make a low offer!