First quarter figures: Medians and highs in 60605

1400 S Michigan Ave #2701, Chicago

Approximately 100 homes closed in the 60605 ZIP code between January 1 and March 31, according to Redfin’s records. (60605 covers the South Loop from Van Buren to 16th Street.) The median sale price for a home of any kind was $270,000, which is almost $100,000 below the median price for current listings in the area.

The following two homes represent the median and high price points for condo and townhome closings during the first quarter:

  • Median: 1111 S Wabash Ave #2008, a three-bedroom / two-bath condo. Listed in November for $264,900; closed in January for $265,000. (Barbara Thouvenell offered an unusual amount of detail about the state of the home and the building in her listing. It was a foreclosed unit with one parking space, and its seller was offering up to 4% in buyer closing costs and a two-year warranty. The building has special assessments for its common area and balcony repairs, and approximately one third of its residents are renters.)
  • High: 1400 S Michigan Ave #2701 (pictured), a four-bedroom / 3.5-bath penthouse condo with 4,500 square feet. Listed in August for $1.7 million; closed in March for $1.1 million.

Two single-family homes closed in the first quarter, so consider these the ZIP code’s “low” and “high”:

  • Low: 1214 S State St, a three-bedroom / 3.5-bath home. Listed in June for $949,900; closed in January for $710,000.
  • High: 232 E 14th St, a four-bedroom / three-bath home. Listed in January for $1.49 million; closed in March for $1.39 million.
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