Looking for a 3-Bedroom With Lake and Millennium Park Views? 6 N. Michigan
This 3-bedroom in 6 N. Michigan across from Millennium Park in the Loop came on the market in July 2019.
6 N. Michigan was built in 1898 but wasn’t converted into condos until the housing bubble years in 2007-2008.
It is a full amenity building with a 24-hour doorman, an exercise room and sundeck. It also has heated garage parking.
This unit is a northeast facing corner unit with direct views of the Lake and the Park.
It has dark stained wood floors in the living/dining rooms, custom Holly Hunt wall coverings along with recessed lighting.
There’s also an electric fireplace in the living room along with built-ins.
The kitchen has white Scavolini cabinets with granite counter tops, Wolf, Subzero, Affinity and Bosch appliances along with a built-in wine cooler and a breakfast bar with sitting for four.
There’s a separate dining room and breakfast nook.
The primary bedroom has 12-foot ceilings, a walk-in-closet and en suite bathroom with dual vanity and shower with rainfall head.
It also has a balcony, which is rare for this historic building.
Of the other two bedrooms, one of them is en suite and one is on the northeast corner, with lake views.
This unit has the features buyers look for including central air, washer/dryer in the unit and there are 2 heated garage parking spaces available for $45,000 each.
Originally listed at $1.575 million, it has been reduced to $950,000.
It sold in 2011 for $1.17 million.
If you recall, 2011-2012 was the “bottom” of the housing bust.
Is this condo a steal at $950,000?
Leigh Marcus at @Properties has the listing. See the pictures and floor plan here.
Unit #1601: 3 bedrooms, 3 baths, 2500 square feet
- Sold in December 2011 for $1.17 million
- Originally listed in July 2019 for $1.575 million
- Reduced numerous times
- Currently listed at $950,000 (plus $45,000 each for 2 deeded garage spaces)
- Assessments of $2562 a month (includes heat, a/c, gas, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $27,886
- Central Air
- Washer/dryer in the unit
- Electric fireplace
- Bedroom #1: 14×17
- Bedroom #2: 11×11
- Bedroom 33: 14×13
- Living room: 22×34
- Dining room: 20×13
- Kitchen: 11×15
- Laundry room: 6×6
- Foyer: 8×19
- WIC: 10×7
- Balcony: 7×11
Nice space overall.
Big negative with the balcony in the MBR and that close to your neighbors
Electric “fireplace” looks cheesy AF
HOA is killing the price/value
So is cutting your ask by 1/3 or selling under after owning for 9 years and buying at the bottom of the market a sign of a HAWT ™?
The balcony overlooking 2 of the 3 rooms is a dealbraker. Really nice place outside of this.
I don’t get the HOA’s and property taxes (>6% combined per annum) given the price. Likely sells for sub $900 at ~$850 with continuous tax hikes the buyer will be paying 7% – 8%+ per annum on property taxes/HOA’s per year pretty soon. Good value I suppose until you remember you are paying $8K+ a month with only 1/4 going to principal….
“is cutting your ask by 1/3”
That is a sign of a seller not getting good advice. Probably gone through 2 or 3 realtors while getting back to the real world.
As neither the 2d nor 3d bedroom has a closet, doesn’t that mean that they can’t be called “bedrooms”? And this one still has a master bedroom!
I get that the market for superlux 1+guest-room units is pretty limited, but this is space and footprint that could make a sweet one with the master bedroom facing east.
“That is a sign of a seller not getting good advice. Probably gone through 2 or 3 realtors while getting back to the real world.”
Probably using the same realator that got them to fork over $1.2MM in ’11, just couldn’t come up with a greater fool this time.
“I get that the market for superlux 1+guest-room units is pretty limited, but this is space and footprint that could make a sweet one with the master bedroom facing east.”
While I hate the Balcony off the MBR, I’d rather the living space have a view of LM. But agree that this could be a killer 1+Guest
For condo owners – Is there a primary point of entrance for guests? It seems like this place wastes a fair amount of space in hallways off the entrance points.
“I’d rather the living space have a view of LM”
Intended the corner, where there is already a “bedroom”–basically flip the order of the rooms on the north wall, and have a ‘den’ (library/study) with the balcony.