Michigan Avenue Tower

About the Building

This handsome residential high-rise at 1250 S. Michigan is a condo development in Chicago's flourishing South Loop neighborhood that offers spacious units, quality construction and all the amenities you need to live in comfort and style. The tower was completed as recently as 2005, and it stands over Grant Park at an impressive 29 floors. From the individual unit features to the useful building services and facilities, this site is a homeowner's dream.

The units come in a number of layouts and offer residents a range of pricing to suit all family sizes and budgets. Generally speaking, the price per square foot for property at 1250 S. Michigan is $351, with an average square footage of 859. The smallest units offer 800 square feet of living space, while the largest ones encompass 970 square-foot floorplans. The maximum number of bedrooms available in this building is 3 which can be 143 square feet in area. On the other hand, if you don't need a lot of room, there are 1-bedroom units that are 132 square feet.

The standard length of time a unit in this building stays on the market is 186 days, although some take as long as 457 days to sell. Currently, there are a few 1-bedroom residences available at 1250 S. Michigan Ave. The average listing price for these units is $303,979 and the average sale price is $300,482. To give a better idea of the going rate for property in this particular building, a 1-bedroom here went for $331,500 in August of 2007.

In addition to the price of the units themselves, it is always helpful to know how much you're going to have to pay in taxes and assessments to live somewhere. For this great residential building, homeowners generally pay between $1,500 and $4,000 per year in taxes and an average of $260 in assessments each month.

One more thing, in case you have a little furry friend at home who is planning on making the move with you, this building welcomes pets. So go ahead and pack up the toys, leashes, litter boxes, and food dishes because Fido or Fluffy may just become the newest four-legged neighbor at the Michigan Avenue Tower.