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The four sides of Park Monroe

Park Monroe, 55 E Monroe St, ChicagoHow much does a view matter at Park Monroe (the big gray box near the center of the pic at right)? Quite a bit, especially when it comes to pricing.

Sort the developer’s unsold units (listed by Equity Brokerage Services) by price, and you’ll find clean divisions between each of Park Monroe’s four faces. Its five available west-facing units are all less expensive than its one available north-facing unit, which in turn is less expensive than the two available south-facing units, which are both less expensive than all the available east-facing units. These homes, all located on the 42nd through 49th floors of the tower at 55 E Monroe St, were built to capitalize on the building’s proximity to Millennium Park, Grant Park, and the lake, and it shows. (It’s worth noting that you can’t get a one-bedroom unit facing the parks and lake at Park Monroe. They’re all on the western half of the tower, with views back in toward the Loop.)

The breakdown of unsold units currently listed is:

West:

  • Three one-bedroom / one-baths with 997 to 1,126 square feet, priced from the $300s to $370s
  • A one-bedroom / 1.5-bath with 1,092 square feet, priced in the $400s
  • A two-bedroom / two-bath with 1,289 square feet, priced in the $520s

North:

  • A two-bedroom / two-bath with 1,504 square feet, priced in the $610s

South:

  • Two two-bedroom / two-baths with 1,504 square feet, priced in the $700s and $720s

East:

  • Seven two-bedroom / two-baths with 1,304 to 1,873 square feet, priced from the $720s to $920s
  • Four two-bedroom / 2.5-baths with 2,059 to 2,072 square feet, priced from $1.15 to $1.22 million

Southeast corner:

  • One two-bedroom / 2.5-bath with 2,577 square feet, priced at $1.45 million

Northeast corner:

  • One two-bedroom / 2.5-bath with 2,577 square feet, priced at $1.6 million

There are also three units — all with western exposures — currently listed for resale at Park Monroe: a 997 square-foot one-bedroom listed at $299,000 (it sold in March 2009 for $307,391), and three 1,289 square-foot two-bedrooms listed at $449,000 (sold in February ’09 for $474,898), $449,000 (sold in March ’09 for $482,959), and $469,000 (sold in April ’09 for $474,500).


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