1122 North Dearborn

The Gold Coast, Streeterville, and Magnificent Mile are the crown jewels of the downtown Chicago real estate. The area is home to several new luxury condominium developments, as well as many of the most well-known buildings in the city.

One condominium development that is located right in the middle of all three neighborhoods is 1122 North Dearborn. The 30-story building was completed in 1999. The developer, Surf Development, and architect, Pappageorge Hames Ltd, II, worked together to bring this distinctive building to the market.

There are currently four listings for buyers to choose from at 1122 North Dearborn. The most affordable condominium currently on the market is a one-bedroom and one-bath condominium with a total of 900 square feet of living space. This unit is currently priced at $349,900.

Another one-bedroom and one-bath unit is also available, offering a slightly larger floor plan with 950 square feet of living space. This condominium is priced at $389,000. Prices for other units that have sold recently range from $365,000 for a one-bedroom condominium to $550,000 for a two-bedroom unit.

Rental units are occasionally available at 1122 North Dearborn. Prices range in the high $1,000 range for a one-bedroom and one-bath unit.

A number of modern amenities are available in this relatively new development. Residents enjoy an open floor plan with a large gourmet kitchen. The kitchen comes with maple cabinets, granite countertops, and an island layout. An appliance package comes with each unit. Residents also enjoy a master bath with double-bowl vanity, separate dining room, granite fireplace, and in-unit washer and dryer.

Each unit also enjoys incredible views of the downtown Chicago skyline from the private balcony, plenty of extra storage space, and natural light throughout the day.

1122 North Dearborn is a full amenity building, meaning that all residents enjoy a 24-hour doorman service, a modern fitness center, and deeded parking in the underground parking garage. Parking spaces are sold for an extra $35,000.

The neighborhood is packed with a number of amenities. Restaurants can be found throughout the area, with plenty of choices ranging from budget meals to a fine dining experience.

For a night on the town, residents can head to Division Street, just a block and a half north of 1122 North Dearborn.

Commuters won't have to worry about the daily trek to work anymore. The downtown Chicago business district is within walking distance, making it easy to get to and from work without taking the train or bus, and saving precious time every day. Other neighborhoods around the city are within easy reach via the nearby El station at Clark and Division, or via several CTA buses running through the neighborhood.

Buying a condominium on the Near North Side of Chicago means buying into one of the hottest neighborhoods in the city. While sales have dipped sharply around the city, the Near North Side saw a slight 4 percent drop in sales in 2007. Meanwhile, prices are up, with the average sales price rising by 7 percent during the year.

There seems to be no ceiling for growth in the neighborhood. A number of new luxury towers are opening their doors in the next couple of years in the area, including high end projects such as the Chicago Spire.

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