A 1-Bedroom Haven of Sophistication in Tribune Tower for $1.05 Million: 435 N. Michigan
This 1-bedroom in Tribune Tower Residences at 435 N. Michigan in Streeterville came on the market in May 2024.
Tribune Tower was built in 1925 and was converted into condos in 2021. It has 162 units and attached garage parking.
It’s a full amenity building with 24/7 door staff and 55,000 square feet of amenity space including an all-season pool, a private park, and the infamous Crown Terrace in the crown of the building.
This unit is a large 1-bedroom.
The listing calls it a “haven of sophistication.”
The unit has a formal foyer, Phillip Jeffries wallpaper and automated Hunter Douglas window treatments.
It has a “chef’s inspired” kitchen with Bovelli custom cabinetry, oversized island with quartzite countertops and luxury appliances by Subzero, Miele and Wolf.
There are RH light fixtures.
The listing says the owner spared “no expense” with custom closets.
The bedroom is en suite and the bathroom has a soaking tub, separate shower, double vanity and marble inlay.
The unit has the features buyers look for including central air, washer/dryer in the unit and one parking space is available for $55,000.
Tribune Tower is at the south end of Michigan Avenue, near the shops and restaurants of Michigan Avenue, Streeterville, River North and the Riverwalk. There are multiple bus lines in front of the building.
Listed at $1.060 million, including the parking space, that is $185,000 above the 2023 sales price of $875,000. I’m not sure if that 2023 price included the parking.
Will this seller get the premium just one year later?
Carrie McCormick at @properties Christies has the listing. See the pictures and floor plan here.
Unit #1009: 1 bedroom, 1.5 baths, no square footage listed
- Sold in May 2023 for $875,000
- Currently listed at $1.05 million
- Assessments of $926 a month (includes heat, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes are not listed
- Central Air
- Washer/dryer in the unit
- One car parking is $55,000 extra
- Bedroom: 14×12
- Living room: 23×17
- Kitchen: 12×10
- Walk-in-closet: 7×6
Smells like a developer unit
Views suck
Rent for $6k/mo – Smaller and not furnished as high end but with outdoor space https://www.zillow.com/b/435-n-michigan-ave-chicago-il-BhRf/
“Smells like a developer unit”
Owners appear to be bona fide people, unaffiliated with CIM or Golub.
I’m not sure why a 1 bedroom buyer with a $1M budget would settle for a unit without any kind of view. It’s not that difficult to find a place with a decent to exceptional view in downtown Chicago.
kind of refreshing to not see black or brass fixtures in a recent new build
No view, no $1 million purchase. Not in a downtown high rise, that is.
The developer must think this is NYC where people pay $1 million to look into someone’s wall.
Wow…you have to put 50% down….e.g. lock up $525K (not including parking) to get the same monthly out of pocket as just renting the place….so why buy?
“Wow…you have to put 50% down….e.g. lock up $525K (not including parking) to get the same monthly out of pocket as just renting the place….so why buy?“
Pride of ownership, not paying someone else’s mortgage, being able to decorate how you want, not dealing with rent increases, tax benefits. You know, all the reasons realtors give to not rent. 😉 renter here .
The water closet is a nice touch. I don’t understand why there are so many Master Baths designed for couples with two sinks but no WC.
“I’m not sure why a 1 bedroom buyer with a $1M budget would settle for a unit without any kind of view. It’s not that difficult to find a place with a decent to exceptional view in downtown Chicago.”
Not everyone is a “view” buyer. This building was renovated by the same people who renovated the Palmolive. It has the same feel in the interiors. The Palmolive isn’t a view building either until you are in the top Penthouse units and, even then, the view isn’t that great.
Tribune Tower has historic features on the interior and amazing amenities. The pool is great. Some may also like the location.
I wonder how the resales are going in this building? It hasn’t yet sold out. All the floor plans are different though. I’m sure some are more popular than others.
We toured the building last fall. The Tribune Tower is historic, and the common spaces are gorgeous. The condos are very nice, but it is not a “views” building. It has a great location, too.
“Not everyone is a “view” buyer.”
Agree that it’s not a top priority for everyone. But when you have a $1M budget for a 1 bedroom, you are positioned to check every single box on your wishlist, and on a resale consideration wishlist.
“The condos are very nice, but it is not a “views” building. It has a great location, too.”
Agreed, KatMR. I’ve also toured the building. And when you’re in the crown, where they have a lovely patio, you aren’t really there for the views either.