Assessing assessments: 1720 South Michigan

1720 South Michigan, 1720 S Michigan Ave, Chicago

If you’ve spent any time touring downtown’s new high-rises, you’ve probably come to expect on-site amenities like a sun deck, a swimming pool, a conference room, and/or a fitness center. These common spaces are so common, in fact, that it’s actually more surprising to come across a building where all four are absent. And when I think of amenity-light buildings, I think of CMK Companies1720 South Michigan.

CMK’s philosophy, as I’ve heard sales director Scott Hoskins explain it, is really simple: More amenities equal more assessments. At 1720, buyers only pay monthly assessments for one service, a 24-hour door staff, and one utility, gas for heat. If residents want a place to work out, CMK will help them find suitable gyms in the area.

According to a new price sheet from CMK Realty, monthly assessments for unsold units at at 1720 South Michigan are:

  • $246 to $259 for one-bedroom / one-bath condos
  • $290 to $318 for two-bedroom / one-bath condos
  • $365 for two-bedroom / two-bath condos
  • $444 for three-bedroom / two-bath condos

Those figures come out to roughly 26 to 33 cents per square foot, in most cases.

1720’s one-bedroom / one-baths currently start in the $190s, two-bedroom / one-baths in the $240s, two-bedroom / two-baths in the $330s, and three-bedroom / two-baths in the $350s. Indoor, heated parking spaces are available for $36,900 apiece.

Related posts:
High-rise refresher: 1720 South Michigan (June 18)

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