September 28, 2008 – The first deliveries have come and gone at Michigan Avenue Tower II. As the first residents move into this 28-story tower at 1400 S Michigan Ave, buyers continue see some great deals on remaining condos.

One condo that has seen a drop in the asking price is unit #1507. This one-bedroom and one-bath condo has a total of 751 square feet of living space. Even though this unit has been on the market for less than a month, the motivated seller has already dropped the price from $285,000 to $274,900. Monthly assessments are $285.

Buyers looking for a large floor plan can also take advantage of significant discounts on a four-bedroom and three-bath condo in this new construction development. Unit #1203 has more than 2,100 square feet of living space, and features unobstructed lake and city views. Originally priced at $816,000, this condominium is now listed at $753,383 after five months on the market. Assessments on this unit are $704.

The developer, Chicago-based Frankel and Giles, has been offering a luxury upgrade package to buyers since June. Building amenities include attached parking in the heated garage, a pool, fitness center, and round-the-clock security. The development is one of many New Construction Chicago Condos coming to the market in 2008.

[tags] Michigan Avenue Tower II, New Construction Chicago Condos, Chicago Real Estate [/tags]

This entry was posted on Sunday, September 28th, 2008 at 6:18 pm and is filed under Market Update.