Flipper Alert: Prepare Yourselves for 1347 S. Michigan
Closings will begin shortly at 1347 S. Michigan, otherwise known as 1400 Museum Park, in the Central Station Development in the South Loop.
The building is 32 stories, with 260 units.
Currently there are 27 units still available from the developers.
But at least one listing has appeared on Craigslist as a rental. The ad says move-in is available on April 15, 2008.
Unit #1104: 2 bedrooms, 2 baths, 1400 square feet
- Available to rent for $2450 a month (includes the parking)
- Akos Straub at Straubhomes.com has the listing
From the Craigslist ad:
1400 MUSEUM PARK IS A 32-STORY NEW LUXURY CONDO! FEATURES AN AMAZING EAST FACING UNIT W/ SPECTACULAR FLOOR-CEILING WINDOWS & VIEWS OF THE MUSEUM PARK CAMPUS, LAKE, PARK. GRANITE, STAINLESS STEEL APPLIANCES. PRIVATE BALCONY. ROOFTOP FITNESS CENTER & POOL. ONE GARAGE PARKING SPACE INCLUDED.
If you really want to live in the 1300 and 1400 block of South Michigan – with this building and The Marquee closing simultaneously- there is going to be a lot of product available for sale and for rent.
Stay tuned.
Just curious if there have been any successful flips in this building? Lots of open houses there over this weekend.
There have been no resales per the mls.
Thanks G. I’ve been holding out trying to wait for an east view to drop. Do you think units with views are going to sell around $550 w/ parking (which is what most of them are listed at)? I’m trying to go around 100K less.
This building is not billed as being upscale. you can get 2+2 units with great views in 1235 Prairie (Tower IV) right now for mid 500’s. My guess is these units will need a reduction to sell anytime soon.
Allison, be patient, these are a long way from the bottom. $100K off a $550K unit like these will be common soon enough.