A 2-Bedroom with Panoramic City Views at 950 N. Michigan Avenue in the Gold Coast
This 2-bedroom on the 42nd floor in the One Magnificent Mile Condos at 950 N. Michigan in the Gold Coast came on the market in March 2021.
Built in 1983, One Mag Mile Condos has 181 units and rental garage parking.
It’s a full amenity building with a doorman, an indoor pool and an exercise room.
This 2 bedroom has city views, including up the Mag Mile.
The listing says it has 9 foot ceilings.
There are hardwood floors throughout the main living space.
The kitchen has white cabinets, what looks like granite counter tops and backsplash, stainless steel appliances and a breakfast bar.
There are 3 full baths, including what looks to be 2 en suite in the primary bedroom (per the floor plan).
The unit also has a powder room.
It has features buyers look for including central air and full-size side-by-side washer/dryer. Parking is rental in the building.
This property is on north Michigan Avenue, with easy access to shops, restaurants and Oak Street Beach.
Originally listed in March 2021 for $725,000, it has been reduced $100,000 to $625,000.
That’s just $25,000 over the 2012 sales price of $600,000– which was also the “low” of the housing bust.
Is this a deal?
Oliver Levy and Helen Jaeger Roth at Baird & Warner have the listing. See the pictures and floor plan here.
Unit #4204: 2 bedrooms, 3.5 baths, 1830 square feet
- Sold in September 1990 for $400,000
- Sold in October 1994 for $205,000
- Sold in March 2012 for $600,000
- Originally listed in March 2021 for $725,000
- Reduced
- Currently listed at $625,000
- Assessments of $1451 a month (includes a/c, doorman, cable, exercise room, indoor pool, exterior maintenance, Internet)
- Taxes of $16,673
- Central Air
- Side-by-side washer/dryer in the unit
- Rental parking in the building
- Bedroom #1: 16×15
- Bedroom #2: 10×12
- Kitchen: 14×10
- Living room: 26×15
- Dining room: 14×12
- Walk-in-closet: 8×6
Building is hideous, space is terrible, and location is challenging (to put it mildly)
GLWS
Shooting pics in March: “Nah, just leave this rolled up rug under the desk in the primary.”
Today: “Well, we did everything we could. Drop the price $100k.”
I had to go back and look at the floorpan. Two bedrooms with 3.5 bathrooms? Seems excessive. It would kill my spirit to live in a place like this with no balcony or the smallest bit of outdoor space.
Come home from your office and enter… another office building
This layout is terrible too, yikes!
Certainly a bagholder special ??
I read the comments before looking at the listing… It’s not as bad as I was expecting, but still not great.
I wonder if it would be more livable if you flipped the living and dining rooms? I get that the current living room is larger, but it’s awkwardly shaped, which makes the actual usable space about the same. A weird layout is less of an issue in a dining room.
No private outdoor space would be a deal killer for me, though.
Also, this seems odd:
Sold in September 1990 for $400,000
Sold in October 1994 for $205,000
There are *5* ’04 units for sale right now, including the ones directly above and below this one.
3404 took out one of the bathrooms, and opened up the public space:
https://www.redfin.com/IL/Chicago/950-N-Michigan-Ave-60611/unit-3404/home/172084782
The best thing about this place is having two bathrooms in the master suite! You and a partner wouldn’t have to share a bathroom. The guest bathroom also has its own ensuite, so guests can have privacy.
I don’t love the finishes, but the bathroom situation in this unit is perfect.
I think I’d want to take down the wall between the dining room and living room to have one big space and I’d want to update some of the finishes, but the layout is exactly what I would want.
I’d get so bored (and even more broke) going to Spiaggia too often.
“I don’t love the finishes, but the bathroom situation in this unit is perfect.”
Right? Two bathrooms in the primary bedroom. It doesn’t get any better.
I have a feeling at one time that this unit was a 3 bedroom. and they turned the 3rd into the dining room.
That is the only way 3.5 bathrooms would remotely make any sense.
Outdated fixtures and a west view.
“I have a feeling at one time that this unit was a 3 bedroom. and they turned the 3rd into the dining room.”
Yep.
I will say that the views from the through-floor units further up are pretty great (yes, the Palmolive spotlight would be an annoyance), tho this one is pretty dull inside:
https://www.redfin.com/IL/Chicago/950-N-Michigan-Ave-60611/unit-4904/home/102793569
Asking $95k more than the *1998* purchase. Ouch!
“I have a feeling at one time that this unit was a 3 bedroom. and they turned the 3rd into the dining room.”
“Yep.”
But how would they have been arranged? The master (are we allowed to say that) bath would have gone with the mbr, right? Is the dining room where the third bdr would have been and how would the bath locations have fit with that? [I’m not actually interested but just trying to play a role in this revival run of early 2010 chatter.]
Also, does anyone have specific experience with any sehs they can share?
“I’m not actually interested”
Too bad!
Think the ’04 units were technically 2+Den, as this wallpaper dream of a place was listed:
https://www.redfin.com/IL/Chicago/950-N-Michigan-Ave-60611/unit-2404/home/119028094
It is still a little odd to have 3.5 baths, but this is an odd building in many ways.
The wall paper is the least offensive thing
What in the fucking fuck is up with that LR?
“Think the ’04 units were technically 2+Den, as this wallpaper dream of a place was listed:”
Oh, come on, circa 2010 @fo would have def gotten a floorplan for the orig layout.
Looks like the “F Tier” in the link, right?
https://www.dreamtown.com/buildings/one-magnificent-mile
Labeled as “Dining room” with door directly to the kitchen. Very closed off space.
“Certainly a bagholder special ??”
Finally closed in Dec-21 for $530k.
So: in a word, yes.
“Finally closed in Dec-21 for $530k.”
Why are you going back to 2021 to try and prove your point that some properties don’t sell at their listing price anon(tfo)? Because you couldn’t find any other recent examples?
2021 was a whole other world in real estate, especially a property in the Gold Coast.
I bet many that sold downtown in 2020 and 2021, out of panic or haste, really regret it now. And don’t get me wrong, the Gold Coast, River North, Streeterville are still struggling compared to the rest of the city. But it’s not nearly as bad as it was in 2020 and 2021 when things were selling at firesale prices.