Choice cuts: Renovated corner condo on Michigan Avenue listed below 2000 sale price

777 N Michigan Ave, unit 3201 777 N Michigan Ave, unit 3201

Down, down, down goes the price of this corner condo at 777 N Michigan Ave. Unit 3201, a 1,650 square-foot two-bedroom / 2.5-bath positioned on the tower’s northwest corner (overlooking the Mag Mile’s intersection with Chicago Avenue), sold in November 2000 for $500,000. This summer it went on the market for $550,000, and within weeks was sliding downward; in August it dipped into the $490s, and last week it reached $469,000.

The home features a mix of hardwood and parquet floors and carpeting, an open kitchen, two master suites, baths with Jacuzzi tubs and steam showers, and space for in-unit laundry. The tower features a rooftop pool and sun deck, and a 24-hour door staff.

2008 taxes for the unit are $4,974. Assessments are $937 a month and cover heat, air conditioning, water, common insurance, doorman, cable television, pool, exterior maintenance, and scavenger.

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