Pre-Foreclosures Appearing in Park Millennium Conversion
Lots of investors bought in the massive Park Millennium conversion at 222 N. Columbus near the Lakeshore East project (is this in Streeterville?). There are 480 units in the former apartment building. Parking is rental only (and runs around $225 a month.)
The units do have in-unit laundry. Many of the units look as if they were bought “as is” (i.e. apartment style) and have not had any upgrades.
There are lots of rentals in this building as well as lots of condos for sale. And now, apparently, there are some pre-foreclosures as well.
Unit #2209: 2 bedroom, 2 bath, 1120 square feet
- Currently listed for $399,000
- The pictures above are of #2209
Unit #2308: 2 bedroom, 2 bath, 1225 square feet
- Currently listed for $419,000
Here is the Craigslist ad for #2209:
Pre-foreclosure sale. Motivated seller must sell! Priced below market. Millennium Park location. Steps to Mag Mile, Grant Park and Millennium Park. Granite counters, stainless steel appliances, maple cabinets and floor to ceiling windows. Lots of closets; walk-in Master Bedroom closet. View of lake and Navy Pier. 15 minute free parking to tour unit.
I wasn’t able to find original sales prices for these units so I don’t know if these “pre-foreclosure” prices are really “deals” or not. Unit #3503 is apparently the cheapest two bedroom in the building. It is also in pre-foreclosure according to Craigslist for $374,000.
These particular units aren’t anything to write home about originally (if you know what I mean.) But some of them did have pretty nice city and lake views (if you were on a high floor.) Not sure how long that will hold up with Aqua being built in Lakeshore East nearby.
I lived in this building and it was a great experience. The location, excellent building management, and amenities combine for a great lifestyle. The new construction at Lake Shore East will drive prices at buildings in the New East Side.(www.parkmillenniumchicago.com)
The addition of Aqua east of the building and the Mandarin Oriental west of Park Millennium will only encourage enhancements to the area. Just as Park Millennium residents will need to look at Aqua, Aqua owners will have a view of Park Millennium and they paid much more per sqft for the view.