The Magnificient Penthouse At 6 N. Michigan With Millennium Park Views Has Been Reduced To $3 Million
We last chattered about this true penthouse at 6 N. Michigan in the Loop directly across from Millennium Park in March 2010.
See our prior chatter here.
Back then, the property was 8,000 square feet and was listed for $7 million. (The Groove was playing the Mega-ball that night in order to come up with the cash to buy it.)
Now, it is 6500 square feet and has just been reduced to $3 million.
There’s still time to try for the lottery again.
The tall ceilings and wonderful arched windows remain.
You’ll have to build it out- but who wouldn’t want everything exactly to their specifications anyway?
Is this unit now a deal at just $3 million for the square footage and views?
Patrick Ryan at @Properties still has the listing. See a few more pictures of the beautiful arches here.
Unit #1901: 5 bedrooms, 6.5 baths, 6500 square feet
- Originally listed in 2010 for $7 million (but was 8000 square feet)
- Was listed in July 2012 for $4.5 million
- Reduced
- Currently listed for $3 million
- Assessments of $6101 a month
- Taxes are “new” – but there is an 8 year historic tax freeze on the building
- 2 car parking available for $60,000
Looks like a great place to throw a party, but a little too grand for everyday living, at least for me. Anyone have info on why the SF went down between last time and now?
Even at $3m, it is going to be another $2-3m to build it out and there are very few people with those resources that would want to live here.
When you’re this rich, every day is a party!
It’s like Central Park West branding, but without NYC or Central Park. If I were in the $5M crowd, I would not want to live at this location no matter what. Many better places in this city to spend that kind of money.
Agreed, MJ9. I was recently in Central Park and it’s heads and shoulders above Millennium Park. No comparison at all. And CPW and Fifth Avenue are just better residential blocks than Michigan Ave., which consists mostly of office buildings.
“Many better places in this city to spend that kind of money.”
Like where, Lincoln Park or Old Town? If you’re not looking for a single family home, you aren’t going to find many opportunities for this kind of character and space. And sure, Millenium Park isn’t Central Park, but if you look at the totality of Millenium Park, the lakefront, Grant Park, easy access to the harbor (for boaters), CSO and the Art Institute and museum campus, you’ve got some amazing amenities in the immediate area that are tough to match in any other location in Chicago.
Central park is also 35x the size of millenium park… why you are comparing the two is pretty pointless
Not to mention that a 6500 s.f. penthouse on Central Park would cost substantially more than $3m.
“Central park is also 35x the size of millenium park”
I take most who say “millenium park” to be shorthanding “grant park”. And the diff bt Grant Park and Central Park is about 2.65x. Which coincidentally was about the ratio of NYC population to Chicago population in the 1990 census.
I think there are some 3500 sqft units at 60 monroe right next door. You could combine a couple units there to make something much, much better. There are also full floor units at 50 chestnut and many, many other better options all over the city for $5-6m.
The Legacy penthouses, according to the developer webiste, start at $3.25M and are all under 3,000 square feet. The pictures on the website are not particularly appealling – if there’s any standout features of these units comparable to the character of this property, they are not being highlighted. 50 chestnut is very nice and a good location, but again I’m not seeing anything like these views or this space on any of their units – they look like they’re all under 4,000 sq. feet. If you want something that’s new and already done, this is not your place, but if you want something one of a kind and freaking enormous I think this one is tough to beat.
Whoops, I blew it on the Legacy comments – their penthouses are huge, I think I was looking at the wrong floorplans.
I would hate to live in this location….walking out the door into a throng of tourists…no thanks.
For the money, I would rather live on East Lake Shore Drive.
“There are also full floor units at 50 chestnut and many, many other better options all over the city for $5-6m.”
Not with stone carved arched windows there aren’t.
There are alwasy a few 1920s penthouses that pop up but you never know when (and those might be on East Lake Shore Drive or on Lincoln Park.)
The full-floor 71st-floor Legacy penthouse floor plan is fun to see. I’ve always wanted three living rooms. Seriously, check out the site. It’s worth a look. The views are tremendous.
What a piece of history! I wish I could afford this place and the additional cost to finish it out. I’m sure it will be spectacular when completed and will always be quite unique. Nothing cookie cutter about this space. Nice building and a great location for Penthouse living with one of the grandest parks in the country as your front yard.
great look
would love to have that kind of change
good for the people who do
This building has been around since, what, 1899? What is the history of the penthouse itself? Was it just some kind of boardroom for Montgomery Ward? When was it gutted? Was it ever a residence in the past?