Today’s new listing is located inside a relatively new high-rise: The Enterprise Companies‘ 1400 Museum Park, at the corner of 14th Street and Michigan Avenue in the South Loop. Although Enterprise is sitting on hundreds of unsold homes at other recently completed Museum Park high-rises, it’s pretty much finished with 1400, where construction wrapped in early 2008. A lot of buyers are hoping to turn around their purchases — there are 15 homes listed for sale in the tower right now, including this one, a 1,684 square-foot three-bedroom / two-bath on 1400’s 30th floor.
Unit #3005 (floor plan at bottom) sold in August 2008 for $691,000, according to Cook County’s public records. It went back on the market almost immediately, and has been on and off the MLS regularly from then to now, most recently returning late last week at a list price in the $740s. Like many South Loop listings we come across these days, it comes with an alternative price — $3,000 a month as a rental.
Being a southeast corner unit on one of 1400’s highest floors, the condo does benefit from views of the lake and Soldier Field, as you can just barely make out in the photo at top left. According to Akos Straub‘s listing, the unit features hardwood floors; floor-to-ceiling windows; a kitchen with granite countertops, breakfast bar, and stainless-steel appliances; a master suite with a double-bowl bath vanity, oversized shower, marble finishes, and a walk-in closet; and a balcony. Buyers get one parking space with the unit at no additional cost, and a second for an extra $35,000; one space is offered to renters at no charge.
Monthly assessments for the condo come out to about $772 a month.
Eight other units at 1400 Museum Park are listed as rentals; they range from a one-bedroom / one-bath priced at $1,650 a month to a three-bedroom / two-bath priced at $3,500. For the sake of comparison, I checked Apartments.com for the current rates at the rental-only Sky55, located just a block north of 1400 at 1255 S Michigan Ave. There, one-bedrooms with 1,053 to 1,114 square feetare advertised from $1,932 to $2,637 a month, and two-bedrooms with 1,290 to 1,551 square-feet from $2,532 to $3,873 a month.