Museum Park Lofts

About the Building

The Museum Park Lofts is a new mid-rise condo development in Chicago's emerging South Loop neighborhood that offers spacious units, quality construction and all the amenities you need to live in comfort. Located at 1305 S. Michigan, just blocks away from the Museum Campus, Soldier Field and Grant Park, the structure has been around since 2004 and has 203 separate units with fee/leased parking for residents with vehicles. In addition to the various floorplans, this building features an exercise room, sundeck and a party room. The units in this building also feature floor-to-ceiling windows and spacious balconies.

Museum Park Lofts is a striking development offering units with a number of different layouts and an average of 826 square feet of living space. The various floorplans include anywhere from 1 to 3 bedrooms with an average master bedroom size of 168 square feet. Typically, the kitchens are 92 square feet, providing plenty of space to cook dinner for the family, or whip up a feast to entertain friends at your new home. And speaking of entertaining, the living rooms in this building are designed with up to 308 square feet of floor space-enough to host small get-togethers, or just lounge around on your own in wide open privacy.

No matter where you live, there are some essential amenities that, in this day and age, we just expect to have. Other features are an added bonus that make the city lifestyle that much sweeter. Museum Park Lofts incorporates the necessities with a touch of luxury from the rooftop aspects to handy building services to the critical elements back in your private abode. Luxury amenities or not, sometimes the most important factor in purchasing a new home is whether or not your four-legged family member can move in with you. This residential building is pet friendly, so start scoping out the perfect new spot for your furry friend's water bowl.

In addition to the basics of the building, you probably want to learn a bit about the cost of living in a place like this in the South Loop, such as, how much you can expect to pay annually in assessments and taxes. Well, the average assessments for this sought-after Chicago residence are $166 per month, on top of taxes that typically cost $2,800 per year. And just to help you weigh out the nuts and bolts of purchasing a piece of real estate here, as opposed to some other building, we've compiled the most up-to-date data to suffice a comparison.

The price per square foot for property at 1305 S. Michigan is $370, with an average size of 826 square feet. The smallest units offer 733 square feet of living space, while the largest ones encompass 878 square foot floorplans. The standard length of time a unit in this building stays on the market (between listing and closing) is 136 days. Just to give you an idea of the going rate today for this particular site, a 1-bedroom unit sold for $345,000 in October of 2006.