Crib Chatter

 

I went to Six North Michigan expecting to see the same ole product that is in many of these office building conversions (such as Metropolitan Tower, 888 S. Michigan etc.).  I especially expected it with this conversion, given its iffy history.  The building was originally marketed back in 2004 and anyone who went to that sales center knows what I’m talking about.  It was an awful conversion with cheap kitchens and baths. 

Even during the boom, it ran into trouble and the developer actually went under and had to sell the building.

Finally, after years of sitting vacant, Six North Michigan is back with a new developer and a new lease on life.

But, like I said, I was a bit dubious when I decided to check out the sales center.

I was, however, pleasantly surprised.  This is the nicest conversion I have seen in several years.  The developer decided to go high end on the finishes and put that as “standard”- meaning every unit will have Italian cabinets and European appliances (all stainless steel, of course.)  They used real hardwood floors and marble in the baths.

Classy.

(If you go to the sales center, be sure to check out the model unit with the Asian marble in the bathroom. It is like nothing you have ever seen. Really unique.)

This product is very different to the finishes we’ve been seeing on South Michigan Avenue and the Millennium Park area.  It is clear the developer is NOT appealing to the suburbanite masses here as they, for the most part, will not like the sleek white kitchen cabinets with frosted glass. (No offense to suburbanite buyers.)

What about the units themselves?  They have already sold out the smaller 2 bedroom units that face Millennium Park.  Because it is a historic building (it used to be part of the Montgomery Wards empire), they can not change the outside structure that faces the lake or the street.  These units, therefore, have no balconies.

The sales agent I talked with said they had 150 people on their opening day and they wrote 9 contracts, nearly all of them for the cheaper 2 bedroom, 2 bath that faced the lake.  While the views were nice with those, the units themselves were only so-so. Some of the units in the back of the building were actually much more stunning.  The units on the west part of the building have balconies- with the corner unit on the northwest side having TWO outdoor spaces.  Rather unusual for a historic building.

These corner units were also rather spacious and had peak-a-boo views of Millennium Park.  The developer was apparently leaving the loft style windows that graced the entire north face of the unit- giving those units a “loft” feel. 

This is an impressive rehab.  Parking is available for the larger two bedroom units.

Prices ranged from the mid $500,000s for smaller units with one bedroom plus den on the southwest corner to the mid-$700,000s and up for the northwest corner units (which were 1821 square feet.)  Check out the great floorplan for this tier of units (the 08 tier).

There are a bunch of one bedrooms that face the street (not the lake) that have bedrooms in the back of the unit with no windows. The finishes were equally as striking. But these units, without any balconies or parking, will be a harder sell for the building. And they weren’t cheap (in the $300,000- $400,000 range.)

I’d love to see one of the penthouses with the big terraces. If anyone is so lucky to do so- please fill me in.

[P.S. To the @Properties team that is marketing the building, please do something about the awful website. It has no pictures of the interior of the units, even though there are three furnished models right now at the sales center in the building. Also, put prices on the website. Or, at least, put a range. Otherwise, you’ll waste a lot of people’s time.

And why aren’t you touting the great “standard” finishes? These are some of the best finishes I’ve seen in a new building in some time. They rival the classy finishes in 600 N. Fairbanks and blow away the nearby Heritage, now several years old, and the soon to be built The Legacy. Advertise your selling points! Because the building has a lot of them. It’s a great product. But you need a better website.]