See Home Value
Chicago 60616 South Loop
1631 S MICHIGAN Avenue #510
$387,658*
House - Off Market

1631 S MICHIGAN Avenue #510

Chicago, IL 60616
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1425 Sqft
$329,000 - $401,000
Reference Base Price*
6.21%
Since Oct 1, 2022
IL-Chicago
Primary Model

About This Property

Here is your opportunity to live in a Tandem Lofts Condo in the South Loop. This elevator building is located in a bustling neighborhood rich with history. Upon entry to the Unit, you're greeted by a Foyer large enough to benefit as a home office, hobby/play/gaming room, or welcomed space when entertaining. The living area is the epitome of the open concept! If you love cooking, this Kitchen provides the space you'll need to create great meals and memories. Cabinets and appliances are in excellent condition and the Island/Breakfast Bar is a well-centered separation from the DR & LR. With Eastern exposure and nearly floor-to-ceiling windows, revel in the sunlight during the day. On colder nights, stay warm and get cozy with the gas fireplace. Need a little outdoor space? Then you'll appreciate the City views on the Balcony, just outside the LR. Continue down the hall that homes entrances to the large 2nd BR and BTH. At 10x14, you can fit any size bed. The BTH has a tub/shower and ample space for both day-to-day use and making a guest's stay even more pleasurable. Beyond these rooms awaits your Master Suite consisting of a 12x20 BR, 7x8 Walk-In Closet, and full BTH. The building offers Bicycle Storage and a Dog Run as well as a Storage Locker for each Unit. Enjoy all the City has to offer and return Home with peace of mind knowing you have your own separately deeded and heated garage parking spot (for an additional $25K). What's nearby? Museum Campus, Printers Row, the historic Prairie District (home to 19th-century mansions), Pilsen, Chinatown, easy access to buses and about 1/2 mile to Red, Green & Metra lines, shopping, dining, and so much more. Assessments include everything but electric. [Now for the boring, but very helpful info:] Monthly Assessment is currently $823.74 = $653.50 (Unit) + $38.92 (Parking) + $131.32 (Special Assessment, with a balance, for this Unit, of $525.28 due thru 12/31/2022 (NOTE: balance to be paid by Seller at Closing)). TAXES: Unit = $7,737.42; Parking = $460.69 (2020). OPERATING ACCOUNT = $33,006.05 (Aug 2022). Special Assessment: $70K for 2022 only, to bulk up Reserves (Building had completed some projects over the last couple/few years). NOTE: No other Specials being discussed at this time. Owner Occupancy is at 73%, with 27% of the Units currently being rented. Reserves = $218,949.19 (Aug 2022). Projected Reserves EOY (2022) =  $231,432.23. If you're thinking as an Investor, please know that this Building has a Rental Cap of 15 Units and they are at capacity now, with "quite a few units on the waitlist". Call today to schedule a private viewing and discover why this 1400+ SQFT space is a perfect place to call Home.

The manager has listed the unit size as 1425 square feet.
Unit Size
1,425Ft²
Days on Market
-
Land Size
-
Price per sqft
$256
Property Type
House
Property Taxes
$683
HOA Dues
$692
Year Built
-

Price History

Date / Event Date Event Price
Sep 28, 2022 No longer available -
No longer available
Aug 18, 2022 Listed $365,000
Listed
Jun 7, 2013 Sold to Zexvab Diakite $319,000
Sold to Zexvab Diakite

Property Highlights

Air Conditioning
Garage


Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
2 Beds
2 Baths
1,336 ft²
$273/ft²
$365,000 Mar 14, 2024
-
$1,455/mo
House
2 Beds
1.5 Baths
1,400 ft²
$289/ft²
$405,000 Mar 22, 2024
-
$1,169/mo
House
2 Beds
1 Bath
1,250 ft²
$263/ft²
$329,000 Feb 29, 2024
-
$939/mo
House
2 Beds
2 Baths
1,241 ft²
$322/ft²
$399,900 Feb 15, 2024
-
$1,080/mo
House
2 Beds
2 Baths
1,250 ft²
$288/ft²
$359,900 Mar 29, 2024
-
$1,263/mo
House
2 Beds
2 Baths
1,228 ft²
$326/ft²
$399,999 Feb 13, 2024
-
$1,219/mo
House
2 Beds
2 Baths
1,254 ft²
$318/ft²
$399,000 Feb 12, 2024
-
$1,488/mo
House
2 Beds
2 Baths
1,250 ft²
$300/ft²
$375,000 Oct 23, 2023
-
$1,205/mo
House
2 Beds
1 Bath
1,010 ft²
$297/ft²
$300,000 Mar 6, 2024
-
$754/mo
House
2 Beds
2 Baths
1,000 ft²
$380/ft²
$380,000 Feb 4, 2024
-
$1,143/mo
House
2 Beds
1 Bath
920 ft²
$370/ft²
$339,999 Mar 12, 2024
-
$702/mo
House
2 Beds
2 Baths
1,020 ft²
$358/ft²
$365,000 Mar 14, 2024
-
$898/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20240229 Unit 202
02/29/2024
202
2 Bed
1 Bath
1250 ft²
$329,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1250 ft²
-
-
-
Wanda Austin-Wingood
Redfin Corporation
20230315 Unit 308
03/15/2023
308
2 Bed
1 Bath
985 ft²
$330,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
985 ft²
-
-
-
Janice Parks
Baird & Warner
20220818 Unit 510
08/18/2022
510
2 Bed
2 Bath
1425 ft²
$365,000
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1425 ft²
-
-
-
Richard Batista
J J Nate Real Estate & Mgmt
20220107 Unit 210
01/07/2022
210
2 Bed
2 Bath
1400 ft²
$365,000
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1400 ft²
$385,000 +5.48%
02/23/2022
Brittani Walker
Redfin Corporation
20201013 Unit 405
10/13/2020
405
2 Bed
2 Bath
1500 ft²
$450,000
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1500 ft²
-
-
-
-
20201119 Unit 506
11/19/2020
506
2 Bed
2 Bath
1350 ft²
$339,900
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1350 ft²
$332,000 -2.32%
04/28/2021
Janice Parks
20200226 Unit 207
02/26/2020
207
2 Bed
2 Bath
1180 ft²
$325,000
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1180 ft²
$350,000 +7.69%
04/27/2020
Beverly Bahm
20181126 Unit 608
11/26/2018
608
1 Bed
1 Bath
-
$280,000
bedrooms
1 Bed
bathrooms
1 Bath
-
-
-
-
20181204 Unit 602
12/04/2018
602
1 Bed
1 Bath
-
$289,900
bedrooms
1 Bed
bathrooms
1 Bath
-
-
-
-
20190110 Unit 401
01/10/2019
401
2 Bed
2 Bath
1250 ft²
$349,900
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1250 ft²
-
-
-
-

Building Info

1631 South Michigan Avenue 1631 South Michigan Avenue, Chicago, IL 60616
More about this Building
1631 South Michigan Avenue
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About Central Chicago


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