Michigan Ave. Tower starts construction

Walsh Construction has started work on the 29-story Michigan Avenue Tower, a 229-unit building that will be the first new condo highrise to be built on Michigan Avenue in more than a decade.
The development at 1250 S. Michigan by Jacob Bletnitsky and Alex Vaisman, of Russland Capital Group, saw quick sales out of the gate and is now 85 percent sold, according to the developers. Only 34 units remain for sale.

“Sales at Michigan Avenue Tower have been rapid,” said Roby Frankel, a partner in Frankel and Giles Real Estate, exclusive marketing agents for the highrise. “Buyers have been attracted to the building because of its great views, ample amenities and Michigan Avenue location.”

Reacting to greater demand for smaller, more affordable units, the developers reconfigured the 16 three-bedroom units on floors 21 through 24 to provide more one- and two-bedroom condos.

One-bedrooms are priced from the $250s to the $280s; two-bedrooms range from the $330s to the $450s; and three bedrooms are priced from the $520s to the $660s. Penthouses with four bedrooms and 3,339 to 3,716 square feet are priced from $1.5 million.

The building has indoor deeded parking, 24-hour door staff and a 5th floor recreation deck with an outdoor swimming pool, barbecue and picnic areas, and a botanical garden with a jogging path that overlooks Lake Michigan. The fifth floor also contains a fitness center, a business center and a party room with a full kitchen.

The units have open floor plans, nine-foot ceilings, gourmet kitchens with GE appliances and private terraces. The kitchens also include granite counter tops and backsplash, 42-inch maple or oak cabinets and Grohe chrome faucets. Each condo is pre-wired for high-speed Internet access, cable and telephone.

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