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$475,000 Contingent

  • For Sale
  • Contingent
  • Condo
  • 2 Beds
  • 2 Full Baths
  • 1,400 Sq. Ft.
  • 1 Car Garage
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Not your cookie cutter loft. This stunning combined 2 units to one offers 2-bedroom, 2-bathroom condo nestled in a prime Chicago South Loop. Enjoy North facing views from one of your 2 balconies in this 1,400 square feet of thoughtfully designed space, this modern midrise unit that offers a blend of contemporary updates and urban charm. Step inside to be greeted by tall ceilings that enhance the open and airy atmosphere. The fully updated kitchen is the organized chef's dream, featuring sleek stainless steel appliances, gas range, fully integrated dishwasher, and pull out pantry, all beautifully complemented by modern lighting and fixtures and oversized island. The expansive living area showcases exposed brick and a cozy fireplace, seamlessly flowing onto one of two private balconies-ideal for unwinding or entertaining guests. The massive primary bedroom is a true retreat, offering ample space and access to a private balcony, walk in closest and ensuite. Both bathrooms are elegantly appointed with modern fixtures and finishes. Hardwood floors run throughout, adding warmth and modernization to every room. Rare offering of both garage parking, and guest parking. Storage area ensures ample room for all your belongings. Deeded garage parking sold separately for $30,000. Don't miss the opportunity to make this exceptional space your own.

Full Property Details for 1601 S Michigan Ave #502

General

  • Price: $475,000
  • HOA FEE: $719/month
  • Taxes: $9,954 (2023)
  • Status: Contingent
  • Type: Condo
  • Source: MRED
  • MLS ID: 12581530
  • Updated: 3/12/2026
  • Added to Site: 29 day(s) ago

Interior

  • Basement: None
  • Interior Features: Cathedral Ceiling(s)
  • Fireplace: Yes
  • Number of Fireplaces: 1
  • Fireplace(s): Family Room, Gas Log, Gas Starter
  • Appliances: Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal, Stainless Steel Appliance(s)
  • Flooring: Hardwood

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Bathroom Features: Whirlpool, Separate Shower, Double Shower, Soaking Tub

Bedrooms

  • Total Bedrooms: 2

Additional Information

  • Shared Amenities: Elevator(s), Storage, Security Door Lock(s)

Exterior

  • Exterior Features: Balcony, Outdoor Grill

Parking

  • Garage: Yes
  • Garage Spaces: 1
  • Total Spaces: 1
  • Parking Features: Garage Door Opener, Off Site, Deeded, Detached, Garage

Location

  • Area: CHI - Near South Side
  • County: Cook
  • Township: South Chicago
  • Driving Directions: Michigan Ave to 16th Street. Building is on the SE Corner of 16th St & Michigan Ave

School Information

  • School District: 299
  • Elem School District: 299
  • Midd School District: 299
  • High School District: 299
  • Elementary School: South Loop Elementary School

Community

  • Assoc. Fees Include: Water, Insurance, TV/Cable, Internet
  • Pets Allowed: Yes
  • Pets: Cats OK, Dogs OK
  • Pet Restrictions: Cats OK, Dogs OK, / 999lbs.
  • Mgmt. Company: The Forth Group

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Natural Gas, Forced Air

Utilities

  • Sewer: Public Sewer
  • Water: Lake Michigan, Public

Structural Information

  • Structure Type: Condo, Mid-Rise (4 to 6 Stories)
  • Construction: Brick
  • Exterior Const.: Brick
  • Basement Desc.: None
  • Foundation: Concrete Perimeter
  • Sub-Flooring: Hardwood
  • Entry Floor Number: 5
  • Stories/Levels: 6
  • Square Feet: 1,400
  • Sq. Ft. Source: Plans
  • Year Built: 1925
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 47

Lot Features

  • Lot Dimensions: COMMON

Animals

  • Animals Allowed: Cats OK, Dogs OK

Financial Considerations

  • Association Fee: $719
  • Assoc Fee Freq.: Monthly
  • Deeded Garage Cost: $30,000
  • Assessment Year: 1925
  • Tax Amount: $9,954.79
  • Tax Year: 2023
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Condo
  • Property ID: 17223020521036

Listed by Compass

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— 1601 S Michigan Ave #502 —

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 1601 S Michigan Ave #502

School District:Chicago Public School District 299
NameGradesDistance
South Loop Elementary School
1212 South Plymouth Court, Chicago, IL 60605
PK-80.5 mi
Phillips Academy High School
244 East Pershing Road, Chicago, IL 60653
12-112.5 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1601 S Michigan Ave #502 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/06/2026
Listed
$475,000
13.1%
MLS
3/03/2017
Sold
$420,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1601 S Michigan Ave #502

Year
Property Taxes
Change
Tax Assessment
Change
2023
$6,562
3%
$30,999
—
2022
$6,396
2%
$30,999
—
2021
$6,252
-13%
$30,999
-4%
2020
$7,212
2%
$32,374
-8%
2019
$7,084
2%
$35,260
—
2018
$6,965
36%
$35,260
30%
2017
$5,111
4%
$27,118
—
2016
$4,931
10%
$27,118
—
2015
$4,489
17%
$27,118
16%
2014
$3,852
2%
$23,332
—
2013
$3,765
1%
$23,332
—
2012
$3,739
—
$23,332
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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1601 S Michigan Avenue #502, Chicago, IL 60616 (MLS# 12581530) is a Condo property with 2 bedrooms and 2 full bathrooms. 1601 S Michigan Avenue #502 is currently listed for $475,000 and was received on March 06, 2026. Want to learn more about 1601 S Michigan Avenue #502? Do you have questions about finding other Condo real estate for sale in Near South Side? You can browse all Near South Side real estate or contact a Coldwell Banker agent to request more information.

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