The process of converting this 22-story office building across the street from Millennium Park into condos has been a rocky road. Construction started and stopped at Six North Michigan for about five years because the original developer defaulted on its loan. The project got back on its feet last year with the backing of Park National Bank, however, and @properties sales associate George Schultz says deliveries are expected for late summer.
Park National Bank brought in a new construction company for the renovation and placed a new emphasis on modern European finishes, which helps the old Montgomery Ward catalogue building shake off its hundred-year history as an office building. Special features include Scavolini cabinets, Liebherr refrigerators and Bosch dishwashers, to name a few. And because the developer is renovating a historic building, it may qualify for a property-tax assessment freeze, which would keep taxes steady for eight years.
Sales just passed the halfway point, with 52 percent of sales completed. The most popular layout, a one-bedroom with den, has already sold out, Schultz says. Several two-bedrooms are still available, with prices ranging from the $730s to the $850s with three different layouts. Five of the building’s seven penthouses are also available, including a $4.8 million show-stopper.
[Where: 60602]