About the Building
You don't need to consult a professional to know that the South Loop neighborhood is one of the hottest residential neighborhoods in Chicago - just look at some of the incredible buildings that are being built there. Though this residential high-rise is still under construction, its completion is scheduled for 2008, and by all appearances, it will be well worth the wait. The building, which is located near the Field Museum and Shedd Aquarium at 1347 S. Michigan Ave, will feature 32 floors and 250 individual condos with fee/leased parking for residents' vehicles. In addition, the building will offer spacious units, quality construction and all the amenities you need to live in comfort and modern luxury.
This great building offers residences with a number of diverse layouts and an average of 1336 square feet of living space. The different floorplans include anywhere from 2 to 3 bedrooms with a standard master bedroom that is 161 square feet in size. Generally, the kitchens are 112 square feet, providing plenty of room to prepare a meal for the family, or throw together a banquet-size spread for a few friends at your new home.
Sometimes the deal breaker in purchasing a new home is whether or not your four-legged family member is welcome. Well, in case you have a Fido or other furry friend waiting in the wings, you'll be happy to know this residential building is pet friendly. So don't forget to scope out that new spot for the food dish.
In addition to the fundamentals of 1347 S. Michigan Ave, you're probably interested in learning a little something about the cost of living in a place like this in such a great neighborhood. Like, for example, how much might you have to pay in assessments and taxes every year? Well, the typical assessments for this charming Chicago residence are $346 per month, in addition to average annual taxes that range from $1,500 to $4,000.
The price per square foot for units at 1347 S. Michigan Ave is $350, with an average square footage of 1336. The smallest properties offer 1248 square feet of living space, while the largest ones encompass 1000 and above square foot floorplans. The standard length of time a unit in this building stays on the market (between listing and closing) is around 60 days. Just to give you an idea of the building's residential real estate value today, a unit with 2 bedrooms sold for a very competitive price around a month back. The average listing price of a home at 1347 S. Michigan is $468,136, and there are currently many 2-bedroom residences available at this lovely great residential enclave.