A 740 Sq Ft Wraparound Landscaped Terrace at 1464 S. Michigan in the South Loop
This corner 3-bedroom in The Marquee at 1464 S. Michigan in the South Loop came on the market in July 2022.
Built in 2008, just as the housing boom was ending, The Marquee has 214 units and attached garage parking.
It has 24-hour doorstaff, an on-site engineer, fitness and exercise rooms, a bike room, dog run and theater room.
This is a Northeast corner unit with Brazilian cherry floors.
The kitchen is open to the living and dining rooms and has wood cabinets, an island with seating for 3, granite counter tops, stainless steel appliances, a wine/beverage refrigerator and a reverse osmosis water system.
It has 3 bedrooms.
The primary suite, which has access to the terrace, has a walk-in-closet and an en suite marble bath with dual sinks, a soaking tub and separate shower.
The second bedroom has 2 closets while the third has a floating desk and built-in shelving.
It has a NEST thermostat, additional storage and motorized window coverings.
The unit also has the features buyers look for including central air, washer/dryer in the unit and 2 car side-by-side parking spaces on the same floor as the unit are included.
But for those looking for outdoor space, it has a 740 square foot wraparound terrace with artificial grass and planters with multiple areas for dining, lounging and hanging out.
This building is near the shops and restaurants of the South Loop, Mariano’s, and Trader Joe’s as well as multiple forms of public transportation.
Listed at $545,000, is this a deal for 3-bedrooms and a large private terrace?
Sarah Ziehr at Redfin has the listing. See the pictures and floor plan here.
Unit #301: 3 bedrooms, 2 baths, no square footage listed
- Sold in February 2008 for $515,000 (per Zillow because the CCRD was being updated)
- Sold in April 2018 for $530,000 (per Zillow)
- Currently listed at $545,000 (includes 2 side-by-side parking spaces)
- Assessments of $820 a month (includes doorman and exterior maintenance)
- Taxes of $9579
- Central Air
- Washer/dryer in the unit
- Fireplace
- Bedroom #1: 19×12
- Bedroom #2: 13×12
- Bedroom #3: 13×11
- Living/dining combo: 16×25
- Kitchen: 12×12
- Walk-in-closet: 9×6
- Foyer: 8×6
- Terrace: 48×38
The plug in motorized blinds look tacky
The style feels very 90’s with the woodwork and counter tops
Ceilings would probably have looked better going unpainted
The outdoor area looks usable, though the building finishes look cheap
This unit feels like the last hurrah for a nuclear family before the move out to the burbs
Also this is the canary in the coal mine for non prime locations. 28 days and no sale. Guessing this sells for around the 08 price
HAWT!
“Also this is the canary in the coal mine for non prime locations. 28 days and no sale. Guessing this sells for around the 08 price”
Huh?
The entire Chicago housing market has slowed dramatically since May. Properties are sitting on the market longer everywhere.
Inventory remains low, however. Sellers aren’t listing right now.
2008 price is the bubble speculative price. This building had a TON of investors in it originally. See our old chatter on this building a decade ago.
“The style feels very 90’s with the woodwork and counter tops”
90s?
90s had the white kitchens with the white laminate countertops. Cherry was all about the housing boom years. As were this style granite counter tops. Thankfully, the cherry didn’t stick around very long. Not many cherry floors left anymore.
“The entire Chicago housing market has slowed dramatically since May. Properties are sitting on the market longer everywhere.
Inventory remains low, however. Sellers aren’t listing right now.
2008 price is the bubble speculative price. This building had a TON of investors in it originally. See our old chatter on this building a decade ago.”
Can you share your copium?
This seems like a pretty good deal kind of surprised it hasn’t sold yet
“90s had the white kitchens with the white laminate countertops. Cherry was all about the housing boom years. As were this style granite counter tops. Thankfully, the cherry didn’t stick around very long. Not many cherry floors left anymore.”
The White/White was late 80’s/early 90’s (Any you can add the wood trim on the face of the countertops)
By mid to late 90’s “Brazilian Cherry” w/ granite
Layout is a little odd (I’m not crazy about the location of the HVAC, and the 2nd bath is not convenient to the 2nd/3rd Bedrooms). Pretty great terrace. Kitchen and baths are dated, but appear well-maintained. 2 parking spaces.
This seems priced pretty well, may even be a deal.
If I were to buy, I’d probably:
1) remove the closet in the 3rd bedroom (replace with built ins?)
2) put french or pocket doors from the living room to the 3rd bedroom
3) extend the wall between the kitchen and 3rd bedroom and use the current door/entryway of the 3rd bed as a pantry
4) use the 3rd bedroom as a dining area
I have no intention of buying this place, but somehow I have put a lot of thought into how I would modify it!
“Landscaped Terrace”
If I put some astroturf and potted plants in my basement, is it then a “landscaped basement”??
Agree with everything Madeline said. Floor plan is bad.
I looked at several 2/2s in this building back in 2010 that were still developer owned. The finishes and common areas were as expected for the price point. I did not consider anything in the building because the condos and rooms were too small. I don’t think I made it to the gym, but if I had, that would have killed me a well. Who wants to run facing another treadmill.
Seems like it has potential. These folks really don’t want there to be more than four people sitting at the same table together.
If they raised the camera by 2 feet the terrace wouldn’t look so much like an astroturf prison yard, and more like an outdoor refuge with views out to the city. It boggles me that so many listing photos are just so bad.
“I have no intention of buying this place, but somehow I have put a lot of thought into how I would modify it!”
Lol.
Good suggestions Madeline. Strangely, I have no intention of buying it either but was also running through ways I could “improve” it but you had some ideas that were far better than my thoughts. ha ha.
Recently left the south loop for a SFH on the north side and while I enjoyed the area, I could never picture myself in this hideously painted building. I do like the street level retail, no visible parking podium and decent outdoor space, but this price seems high.
Bed 2 and 3 have to walk to the front door to use the restroom?