Impeccable Renovations on This East Facing 2/2 Loft: 910 S. Michigan in the South Loop
This 2-bedroom in the Michigan Avenue Lofts at 910 S. Michigan in the South Loop came on the market in July 2023.
Built in 1911, it was converted to loft condos in 2001 during the loft boom. It has 262 units and attached garage parking.
The building has 24/7 door staff and an exercise room.
Sorry, but the picture above does not reflect the new Helmet Jahn (his last) high rise apartment building going up directly to the south. I need to update this picture as having a 70 story building next door is a big change for this building.
This unit, however, is a corner unit with north and east exposures. It does not face into the new building. It faces Michigan Avenue and Grant Park and has tree top views.
The listing says this unit has had “impeccable renovations” in 2021 in which “no expense was spared”.
Should it even be called a “loft” anymore?
It still has the 11 foot high ceilings but if you look at the 2011 listing pictures, you can see that they removed the exposed ductwork, one of the “loft” features.
These east facing units have no outdoor space BUT in the original conversion, the developer built in interior “sunrooms” that faced east, had a door and usually tile floors. That sunroom has been removed. (See the 2011 pictures.)
This unit has new hardwood flooring (still diagonal), fresh paint and a fireplace.
The kitchen has been “redesigned” and has a high end Dacor stainless steel appliance package, 2 tone white and wood cabinets, gray glass subway tile backsplash, and an island with seating for 4.
The bedrooms are in a split floor plan. Both have windows.
The primary faces east and has an en suite bathroom which has been renovated and which “rivals the luxurious atmosphere of a spa.”
The unit has the features that buyers look for including central air, in-unit washer/dryer and a tandem 2-spot parking space which is $50,000 extra (see listing picture).
This building is across from Grant Park, near Millennium Park, Buckingham Fountain, the shops and restaurants of the South Loop and Michigan Avenue as well as numerous bus line and the subway.
Listed in July 2023 at $625,000, it has been reduced to $595,000.
Buyers love “new” and this unit has the preferred view in this building.
Why isn’t this selling?
Susan Corcoran at Coldwell Banker has the listing. See the pictures here. Sorry, no floor plan.
Unit #204: 2 bedrooms, 2 baths, 1750 square feet, loft
- Sold in July 2001 for $437,500
- Sold in May 2011 for $485,000
- Originally listed in July 2023 for $625,000
- Reduced
- Currently listed at $595,000 (plus $50,000 for tandem 2-car garage parking)
- Assessments of $1242 a month (includes heat, a/c, gas, parking, cable, exercise, exterior maintenance, scavenger, snow removal)
- Taxes of $11,535
- Central Air
- Washer/dryer in the unit
- Fireplace
- Bedroom #1: 12×17
- Bedroom #2: 1212
- Living/dining room: 22×25
- Kitchen: 8×17
Living on the second floor of a high-rise makes zero sense.
Why isn’t this selling?
– Grossly overpriced
– No outdoor space
– No where near 1750sf
– Did I mention grossly overpriced
Look at 1111. While 204 is “newer” the newness IMO aint worth nearly $300k
https://www.zillow.com/homedetails/910-S-Michigan-Ave-APT-1111-Chicago-IL-60605/70472070_zpid/?
“the newness IMO aint worth nearly $300k”
Pricing in the parkside v higher floor difference, too.
Are you saying that doesn’t look like $150+ psf of “newness” JU? If so, I’d have to guess that either (1) you have zero clue how expensive reno is in a highrise (but I won’t tell you more about how expensive it is), or (2) you underestimate how work averse the millenials/zoomers who are buying these type of condos are–if it ain’t 100% turnkey, they move on, or (3) you missed the pergola in pic 23–not sure if it’s actually there or just CGI’d in tho.
Why isn’t this selling?
It is in the South Loop and not a nice/proper neighborhood. Also overpriced.
“ Pricing in the parkside v higher floor difference, too.” + outdoor space
“Are you saying that doesn’t look like $150+ psf of “newness” JU? If so, I’d have to guess that either (1) you have zero clue how expensive reno is in a highrise (but I won’t tell you more about how expensive it is), or (2) you underestimate how work averse the millenials/zoomers who are buying these type of condos are–if it ain’t 100% turnkey, they move on, or (3) you missed the pergola in pic 23–not sure if it’s actually there or just CGI’d in tho.l
qUiT bULlyInG mE
Might be $150/sf, but not 1750 sf
Additional reasons this isn’t selling:
1. Overpriced.
2. Needs staging.
3. It’s the second floor…so no views and all the street noise. Yay.
4. I would take 1111 and renovate it any day of the week as opposed to buying this unit.
Nostalgia time – I remember the big, flashing Standard Oil sign that used to be on this building back in the 1970s. At that time, the Grant Park band shell was at this end of the park, and my parents often took me to classical concerts in the summer. I remember that sign lighting up over and over more than I remember the music.
As for the unit, I agree that 1111 makes more sense. No interest in being on the second floor of a high rise. I have friends who just bought such a unit (in Lakeview), and though it’s a beautiful apartment, I’d kick myself if a similar unit with a view became available down the road, so I won’t ever go down that path.
#304 was listed in 2020/2021 and also says it’s 1750 square feet. But, you know, our resident square footage expert JohnnyU says they are wrong and it’s not what they say.
They also removed the interior sun room and the entire unit was renovated. In fact, it looks very similar to this unit we’re chattering about.
It has the floor plan. You can see it here.
https://www.redfin.com/IL/Chicago/910-S-Michigan-Ave-60605/unit-304/home/12629004
It sold in January 2021 for $618,000. Wow. During the early period of the pandemic. Vaccine just rolling out and no one wanted to be downtown at that time.
I’m sure that’s why this seller listed at the price they did. It’s 2 years later and prices are UP, not down. But mortgage rates are also double.
Market has slowed this fall again. Probably would have sold for full price if listed in the spring.
By the way, this is the nicest, cleanest garage I’ve ever seen. Kudos to the condo board for the maintenance of it and the realtor for getting such a nice picture of it. Congrats.
“It is in the South Loop and not a nice/proper neighborhood. Also overpriced.”
#304 sold in Jan 2021 at the height of the pandemic when NO ONE wanted to be downtown at all. It sold for $618,000.
https://www.redfin.com/IL/Chicago/910-S-Michigan-Ave-60605/unit-304/home/12629004
And the luxury apartments being built next door will lease. And they’ll lease for premium prices. But because Nyet says it’s not a “nice/proper neighborhood” then it must not be.
“Grossly overpriced”
Unit above it sold in 2021 for $618,000. Similarly renovated. And that was 2 years ago.
“No interest in being on the second floor of a high rise.”
I would love tree top views in a high rise, just not on Michigan Avenue. I have stayed in the hotels just up the street in rooms facing East. It is LOUD. Mostly from the people blaring their music from their cars on Friday and Saturday nights. City sounds but a LOT is going on.
I’d love to live on a low floor across from Lincoln Park. Would be ideal. You’d still hear the birds.
““ Pricing in the parkside v higher floor difference, too.” + outdoor space”
Preferred view is always going to be park/lake for pricing purposes. In this building it’s even more so now that the huge building has been built next door.
I like the west view but in this location it’s not as good as in other buildings. And I would be careful of any undeveloped lots on Wabash.
“[304 listing] has the floor plan”
if the room dimensions are correct, it’s right in the ballpark of 1750.