Michigan Avenue Tower 1 1250 S Michigan Ave Unit 1408 Chicago, IL 60605
South Loop Neighborhood
1
Bed
1
Bath
861
Sq Ft
$542/mo
HOA Fee
Highlights
- Doorman
- 3-minute walk to Roosevelt Station (Green, Orange Lines)
- Deck
- Fitness Center
- In Ground Pool
- 4-minute walk to Daniel Webster Park
About This Home
As of December 2024Preferred South exposure with an oversized balcony, this unit spans over 850 sq. ft., making it one of the largest one-bedroom options in the South Loop. Recently rebuilt from top to bottom, this unit features an entirely new kitchen, bathroom, flooring, doors, finishes, lighting, and more-providing a rare opportunity for beautiful, maintenance-free living for years to come. The kitchen's clean-line, open design showcases oversized quartz countertops with a stunning waterfall edge. Designed for both cooking and entertaining, it includes a built-in barstool setup and pre-installed charging outlets, making it a versatile workstation as well. Thoughtfully planned lighting includes ample overhead fixtures, along with custom LED under-counter and under-cabinet lighting. All appliances are luxury-grade, including a chef's favorite gas range. Coordinating flooring and cabinetry flow seamlessly into the adjoining dining room buffet and living area, where a custom-built, extra-wide fireplace serves as a media center focal point. The living room extends naturally to the recessed outdoor patio, creating a wonderful indoor-outdoor flow. The open floorplan provides flexibility, offering a private patio, living room, dining room, and eat-in kitchen in a single cohesive space, ideal for daily living and entertaining alike. The bedroom accommodates any bed arrangement and receives abundant natural light through floor-to-ceiling windows, which also open to the private patio. The walk-in closet is fully customized and built-out for optimal storage. The oversized bathroom features an earthy tile and stone palette, creating a serene daily retreat. A soaking tub, extra counter space, and plentiful storage enhance the luxury finishes. The pet-friendly building offers exceptional amenities: 24-hour door staff, full-time maintenance, a gym, an outdoor pool with sundeck, a dog run, a party room, and more. Monthly assessments cover heat, AC, cooking gas, cable, internet, and all amenities, supported by substantial reserves of about $2 million, with no special assessments. Rentals are allowed after two years of ownership, and one premium garage space is included in the price. Perfectly located in the vibrant South Loop, the building is just half a block from Grant Park with immediate access to lakefront bike and running paths. The ultra-walkable neighborhood offers Trader Joe's, Jewel, restaurants, pubs, entertainment, and more. Minutes away, you'll find the Roosevelt retail complex with Best Buy, Target, Whole Foods, The Home Depot, Petco, and other conveniences.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $5,397
Year Built
- Built in 2005 | Remodeled in 2019
Lot Details
- Additional Parcels
HOA Fees
- $542 Monthly HOA Fees
Parking
- 1 Car Garage
- Parking Included in Price
Home Design
- Concrete Block And Stucco Construction
Interior Spaces
- 861 Sq Ft Home
- Built-In Features
- Bookcases
- Ceiling Fan
- Electric Fireplace
- Living Room with Fireplace
- Open Floorplan
- Dining Room
- Storage
- Laundry Room
Flooring
- Wood
- Carpet
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Potential Bedroom
- Walk-In Closet
- 1 Full Bathroom
- Soaking Tub
Home Security
Accessible Home Design
- Wheelchair Adaptable
- Accessibility Features
Pool
- In Ground Pool
- Above Ground Pool
Outdoor Features
- Balcony
- Deck
- Patio
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
- Cable TV Available
Community Details
Overview
- Association fees include heat, air conditioning, water, gas, parking, insurance, doorman, tv/cable, exercise facilities, pool, exterior maintenance, lawn care, scavenger, snow removal, internet
- 228 Units
- Angela.Page@Fsresidential.Com Association, Phone Number (312) 554-1250
- Property managed by First Residential
- 28-Story Property
Amenities
- Doorman
- Sundeck
- Party Room
- Lobby
- Package Room
- Community Storage Space
- Elevator
Recreation
- Fitness Center
- Community Pool
- Bike Trail
Pet Policy
- Pets up to 100 lbs
- Limit on the number of pets
- Dogs and Cats Allowed
Security
- Resident Manager or Management On Site
- Carbon Monoxide Detectors
- Fire Sprinkler System
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 28, 2024
Closed on
Dec 24, 2024
Sold by
Hong Albert
Bought by
Zheng Xinyu and Zhao Lei
Seller's Agent
Santiago Valdez
Compass
Buyer's Agent
Geoff Zureikat
Compass
List Price
$335,000
Sold Price
$335,000
Views
98
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$7,300
Avg. Annual Appreciation
-3.49%
Purchase Details
Listed on
Apr 24, 2019
Closed on
Jun 13, 2019
Sold by
Butkus Mecisllovas
Bought by
Hong Albert
Seller's Agent
Lawrence Zukas
Unlimited Realty Inc
Buyer's Agent
Colleen Szymanski
Luxury Living Real Estate
List Price
$299,900
Sold Price
$326,000
Premium/Discount to List
$26,100
8.7%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.50%
Original Mortgage
$244,500
Interest Rate
4.25%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 6, 2018
Sold by
Sakoufakis Tom
Bought by
Butkus Mecislovas
Purchase Details
Closed on
Apr 1, 2005
Sold by
1250 S Michigan Lp
Bought by
Sakoufakis Tom
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$213,000
Interest Rate
5%
Mortgage Type
Unknown
Similar Homes in Chicago, IL
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $335,000 | None Listed On Document | |
| Warranty Deed | $326,000 | Greater Illinois Title | |
| Sheriffs Deed | $244,000 | None Available | |
| Special Warranty Deed | $266,500 | Git |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $242,116 | New Conventional | |
| Previous Owner | $244,500 | New Conventional | |
| Previous Owner | $213,000 | Unknown | |
| Closed | $26,600 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/06/2024 12/06/24 | Sold | $335,000 | 0.0% | $389 / Sq Ft |
| 11/01/2024 11/01/24 | Pending | -- | -- | -- |
| 10/28/2024 10/28/24 | For Sale | $335,000 | +2.8% | $389 / Sq Ft |
| 06/13/2019 06/13/19 | Sold | $326,000 | +8.7% | $379 / Sq Ft |
| 05/07/2019 05/07/19 | Pending | -- | -- | -- |
| 04/24/2019 04/24/19 | For Sale | $299,900 | -- | $348 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $4,869 | $23,219 | $1,507 | $21,712 |
| 2023 | $4,745 | $23,000 | $1,212 | $21,788 |
| 2022 | $4,745 | $23,000 | $1,212 | $21,788 |
| 2021 | $4,639 | $22,999 | $1,212 | $21,787 |
| 2020 | $3,996 | $17,936 | $995 | $16,941 |
| 2019 | $4,516 | $22,476 | $995 | $21,481 |
| 2018 | $4,440 | $22,476 | $995 | $21,481 |
| 2017 | $3,629 | $16,857 | $822 | $16,035 |
| 2016 | $3,376 | $16,857 | $822 | $16,035 |
| 2015 | $3,635 | $19,839 | $822 | $19,017 |
| 2014 | $2,683 | $14,461 | $736 | $13,725 |
| 2013 | $2,630 | $14,461 | $736 | $13,725 |
Source: Public Records
Agents Affiliated with this Home
-
Santiago Valdez
Seller's Agent in 2024
Santiago Valdez
Compass
(773) 858-2410
9 in this area
511 Total Sales
-
Elizabeth Pyle
Seller Co-Listing Agent in 2024
Elizabeth Pyle
Compass
(312) 391-0792
6 in this area
232 Total Sales
-
Geoff Zureikat
Buyer's Agent in 2024
Geoff Zureikat
Compass
(312) 810-2295
3 in this area
119 Total Sales
-
Lawrence Zukas
Seller's Agent in 2019
Lawrence Zukas
Unlimited Realty Inc
(773) 844-4464
1 in this area
48 Total Sales
-
C
Buyer's Agent in 2019
Colleen Szymanski
Luxury Living Real Estate
About Michigan Avenue Tower 1
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12185794
APN: 17-22-101-043-1105
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