600 N Fairbanks

About the Building

This forthcoming high-rise condo building in the wonderful Streeterville neighborhood of Chicago is currently under construction, and it is expected to be completed by the end of 2007. At 41 floors and housing 227 separate units, this building overlooks downtown Chicago, and sits just two blocks away from the popular shopping district of Michigan Avenue, and in the opposite direction, just a couple of blocks from the lakefront. In addition to handsome façade and comfortable living spaces, this brand-new high-rise offers several different layouts with varying numbers of bedrooms.

On average, the residences in this building provide 926 square feet of living space. The choice of floorplans includes both 1 and 2 bedroom units, which can range in area from 132 square feet to 169 square feet. But home isn't only about where you lay your head at night—the rest of the place is just as essential when looking for that perfect abode. The cook in the household will be thrilled with these kitchens, which range from 80 to 130 square feet of the entire unit. That's enough room to whip up a delicious five-course meal for the occasional dinner party, which can be hosted in the 495 square-foot dining room. And what would a get-together be without a bit of mingling before sitting down to eat? Good thing there's a large 495 square-foot living room to let your guests roam around, and not even have to worry about bumping elbows.

In addition to the unit basics, you'd probably like to know some of the figures behind the fundamentals—more specifically, what a place like this in Streeterville is going to cost. Of course, the numbers change depending on the particular unit, but the average listing price in the building is $459,900. The latest 1-bedroom place to sell went for a very competitive price around a month back. Now, on top of the asking price, it's important to think about the added expenses residents need to pay in taxes every year. For property in this building, the taxes generally cost anywhere from $1500 to $4000 annually, so factor that in when calculating that mortgage rate.