Flipper Alert: First Pictures from The Marquee: 1454 S. Michigan
The Marquee, at 1454 S. Michigan, began closings in January 2008. It was originally marketed as an affordable highrise. It was NOT luxury.
Not surprisingly, there are flips in the building.
Current statistics in the building:
- 21 for sale on the MLS (many are from the developer)
- At least 3 for rent
Some of the low floor closings are coming back on the market including this 2 bedroom.
Unit #505: 2 bedrooms, 1 bath
- Closed in January 2008 for $299,800
- Currently listed for $319,900 plus $30k for parking
- 300 square foot terrace
- Assessments of $242 a month
- Dwell Inc. has the listing
The bedrooms are very small.
- Bedroom #1: 11 x 11
- Bedroom #2: 8 x 11
This unit also appears to have the concrete ceilings that have become popular in new construction even though this building was not marketed as any kind of “loft” or a “modern” building. If anything, it was marketed as more of a vintage-type building.
I don’t see 505 listed. MLS number?
Bleah! The CMK buildings down the street (1620 & 1720 S. Michigan) are so much nicer for about the same prices.
My favorite thing is the way they cheaped out on the fridge. The way-too-small one makes the kitchen look a lot worse.
Horrible. It boggles my mind how anyone would want to live there. I can get arrested and live in a prison cell for free.
Eh, It’d be an okay as a one bedroom rental–if you moved the interior walls around a bit. What would a 1 BR that rent for in that location? Maybe 1400 or 1500, including the parking? Any higher?
So it’s maybe “worth” $230k-$240k or so, including the parking? Or overpriced by about $100k.
This concrete ceiling fad has gotten way out of control. What is the point of raw “soft loft” ceilings in this type of unit? The prison reference is perfect for what happens when you throw institutional details into a “luxury” condo. (I hate the “soft loft” craze, as I think soft lofts are just an excuse for not finishing out a unit’s interior)
Early odds on this thing being the next Sterling? 2-to-1 for.
anon – Maybe a buyer wouldn’t notice the tiny dorm fridge….afterall it is stainless steel!!! LOL What are these people thinking?
I agree with Kenworthey. I really like the design of both 1620 & 1720 but don’t prefer mega high-rises nor doormanned buildings (which you never recoup your HOA costs from), so I am moreso drawn to 1620.
But I’m in no hurry to buy and move from where I’m at now. There will be ample more affordable units in that building over the next 2-3 years I hope.
I have been watching this bldg for a while. The prices for what is left are $40K-$50K higher than pre-construction prices. It’s a beautiful bldg, but the kitchen and bath are ridiculous! Cheap! The MLS does not list many units still for sale.
Ann: They only started closings in January. More units will come on the market as they continue closings with the building.
It can take months to close even a 30 story high rise.
looks like any other building from the last 10 years….I guess the concrete ceilings became popular in the last 3 years. whatever blah! Unless I was getting a discount to live down there, NO THANKS
Ann: you mentioned that this building is beautiful. What specifically do you find beautiful about it. The interior photos seen above are at best average and the exterior architecture is ugly. All my opionion of course so I’m just curious what others may think.
i’m not sure who actually likes the 1620 and 1720 buildings…from the outside they do look nice but the inside looks like an ikea exploded…the units are much smaller than the marquee and the floor plan layouts are horrible…most of the buildings in the south loop have horrible layouts (2 bathrooms right next to each other, yet nothing on the other side of the condo, the laundry room inside one of the bathrooms, etc.) but the marquee is very nice inside…i agree with the ceilings…i’m not a fan…but almsot every building in the south loop (and i’ve seen most of them) has these so if you don’t like them and want to live in the south loop, you’re pretty much SOL