Sales update: 37 unsold homes at Metropolitan Tower on Michigan Avenue

Metropolitan Tower, 310 S Michigan Ave, ChicagoSpring’s here, which means summer is will be here before you know it. Way back in 2006, Barry suggested that Metropolitan Tower, located at 310 S Michigan Ave in the Loop, might be just the spot for people-watchers to keep an eye on activities like Taste of Chicago. Fast-forward almost three years, and guess what? You can still get an unsold home inside the building today.

We’ve used the phrase “crawling toward closeout” in old write-ups about Metropolitan Properties‘ conversion, and there’s no reason to stop now. In fact, the tower’s Equity Marketing sales team is trying to sell more units today than it was the last time we checked in. There are still 37 homes for sale through the developer, which makes the building at about 85 percent sold, says Pat Young of Equity.

The starting prices for each unit type are slightly lower across the board compared to our last report. Young says one-bedrooms range from the $290s to the $620s, two-bedrooms from the $460s to the $950s, and three-bedrooms from the $750s to more than $1 million. I didn’t get a breakdown on the range of floor space for the available units, but according to the development’s Web site, the “Burnham” and “Avenue” residences, which make up the majority of the building’s homes, comprise one-bedrooms with 749 to 1,225 square feet, two-bedrooms with 1,202 to 2,081 square feet, and three-bedrooms with 1,585 to 2,481 square feet.

Larger homes, dubbed “Buckingham Townhomes,” can be found on the lower levels, while the penthouses fill the 24th through 30th floors.

The tower has its share of resales, too, according to the MLS: Four one-bedroom homes with 751 to 825 square feet, priced from the $250s to the $360s, six two-bedrooms with 1,252 to 1,965 square feet, priced from the $570s to $1.19 million, and seven three-bedrooms with 1,585 to 2,800 square feet, priced from the $890s to $2.19 million.

Additionally, 12 condos are listed as rentals, with monthly prices running from $1,575 for an 825 square-foot one-bedroom on the 10th floor to $6,500 for a three-bedroom / 3.5-bath with 3,400 square feet.

Most of the homes in the old Graham, Anderson, Probst & White-designed Straus Building have 9-foot ceilings, walk-in closets, oak hardwood floors in the main living areas, individually controlled heating and air. Kitchens are finished with granite countertops, Brookhaven cabinets, GE stainless-steel appliances and Grohe fixtures, while bathrooms feature stone and marble countertops, ceramic tile floors, soaking tubs, and Grohe, Kohler and Toto fixtures.

Building amenities include a 24-hour door staff, fitness center, event room, sun deck, storage lockers, indoor parking, guest suites, dry cleaning valet service, and on-site management and maintenance.

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