605 North Michigan Avenue

605 North Michigan Avenue has been categorized by the local assessors in Chicago, IL as a commercial type of property. The building on the property was first built in 1925 and is 99 years old. The building has a total of 5 stories. The area measurement of the land has been determined as 11,604 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a unknown style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 605 North Michigan Avenue sold most recently in Dec 1, 2016 for a total of $1,400,000. If you work out the math, that's approximately a cost of $18.97 per sqft. Before that, the property was also sold for $35,000,000 in May 29, 1998. There could be many factors that caused the property to sell at a lower price and decrease in value. Tax-wise, the current owner is expected to pay close to $943,264 in taxes each year. 605 North Michigan Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $4,563,968. If we break it down further, the land itself was valued at $1,740,600. Improvements to the property, however, were assessed at a total of $2,823,368. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. Looking to take out a mortage loan? You may want to consider a conventional loan, which is considered one of the most common type of loans on the market. We'll cover the two different types of conventional loans (aka conforming and non-conforming), the pros and cons, and how they could benefit you compared to a FHA or specialty loan. Read more about conventional loans and how you can qualify for one.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.