Get a Custom Streeterville 2/2 for $449,000 on the Mag Mile: 535 N. Michigan
This 2-bedroom at 535 N. Michigan in Streeterville just came on the market.
The building was constructed in 1962 and consists of mostly smaller 1-bedroom units.
But this is a true 2/2 that has been completely renovated with custom built-ins in every room. The listing says it has 9 custom closets.
It has dark hardwood floors throughout.
The kitchen is all custom with granite counter tops, a double dishwasher and a Liebherr refrigerator.
The unit has central air, but no in-unit washer/dryer. There is parking in the building (I believe it’s rental.)
This is a full service building with a top floor indoor pool and exercise room with city views.
The unit faces North and has city views.
Are built-ins a positive when selling a unit?
Vicky Keene at @Properties has the listing. See the pictures here.
Unit #2514: 2 bedrooms, 2 baths, no square footage listed
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- Sold in August 1992 for $125,000
- Sold in June 1995 for $146,000
- Sold in December 1998 for $229,000
- Sold in July 2008 for $380,000
- Currently listed at $449,000
- Assessments of $893 a month (includes cable, pool, doorman)
- Taxes of $5159
- Central Air
- No washer/dryer in the unit
- Parking in the building (rental?)
- Bedroom #1: 24×11
- Bedroom #2: 14×14
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While I’m not certain on the price, 535 N Michigan is a terrific low cost building on the Mag Mile. In its history, the building has Never had a special assessment, while managing to budget and remodel the lobby, all hallways (last 2 years), replace the roof, etc. It’s board should be praised for fiscal discipline.
I own a unit in the building which I rent out 🙂 so I’m not partial!
One more item to note, the building was not built with any 2 bed 2 bath units, so this unit was 2 combined.
Parking is rental in the building – valet
Is washer/dryer not allowed in this building- even in combined units? If you can have a double dishwasher- why not a washer/dryer?
Is that much built-in cabinetry a good thing or a potential turn off to Buyers? Personally, I think it’s awesome to be able to buy a place without having to take a costly trip to the Container Store on North Ave but I wonder if some buyers would prefer a place that left some room to customize.
“I wonder if some buyers would prefer a place that left some room to customize”
Some certainly would, and they wouldn’t be interested in this one.
But some buyers don’t want a turnkey place, and some (ok, most) do. There is *no* way to make your place appeal to *every* buyer.
Not for me… valet parking sucks, so would living at michigan and grand….
I always thought the place was “low level”
Laundry is top floor along with the workout facility, full-size pool & hot tub, huge meeting/party room and a wrap-around deck. If you have to leave home to do laundry, that’s the place to do it! The valet parking is actually adjacent on Illinois, but the building elevator goes down to Illinois so pretty easy access. As David points out the building is very strong financially and well-managed. If you want turnkey in that location this is an excellent option.
Why would you even need a car if you live in this building? I suspect that a lot of the units are either “in-towns” for wealthy suburbanites or out-of-staters, or “starters” for young people who just got jobs in town and whose parents put up the money to pay for the place. In either event, bike/taxi/CTA would probably take care of transit needs very nicely.
” I suspect that a lot of the units are either “in-towns” for wealthy suburbanites … In either event, bike/taxi/CTA would probably take care of transit needs very nicely.”
So, you think that they are biking/cabbing in from Barrington? They certainly need someplace to *put* their car when using the place, no?
laundry is NOT top level, the work out room, party room, pool, and sun deck are on the top floor
the laundry room is in the basement
UNDER CONTRACT
BAM!