1400 S Michigan

About the Building

This high-rise at 1400 S. Michigan Ave in Chicago's rapidly-developing South Loop neighborhood is currently under construction with an estimated completion date in 2008. So while prospective buyers will be forced to wait a few months before moving in, it's guaranteed to be worth the wait. The condo development will offer units in a number of different layouts, with floorplans that will include both 1- and 2-bedroom units. Typically, the living rooms are 236 square feet, providing plenty of space to host a Super Bowl party or your child's sleep-over. Although, with second bedrooms clocking in at 132 square feet on average, your kids and their little buddies will have enough space to camp out on the floor in their own room if they want.

The units at 1400 S. Michigan Ave will be quite spacious, but sometimes the penthouse itself isn't enough to gain your interest if you're not allowed to bring your beloved pet along to the new abode. Not to worry, this residential building welcomes the four-legged members of the family as well, so start packing up Fluffy's things and picking out the perfect new spot for that paw-print water bowl.

In addition to the tangible characteristics of the units and regulations of the building, you'd probably like to know about the less obvious nuts and bolts behind the façade, right? More specifically, how much you should anticipate paying in monthly assessments. Well, the most recent research from homeowners in this sought-after dwelling shows the average assessments cost $312 per month. And just to help give you a better idea of how real estate in this building is faring these days, we've compiled the latest data on the purchase history and current conditions for 1400 S. Michigan Ave.

From the time it is listed to the time it sells, the standard time that a unit in this building stays on the market is about 60 days. And to give you a ballpark figure on the typical price for a place here, a 1-bedroom most recently sold for a very competitive price around a month back; to be more precise, the price per square foot is $407.