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503 N Wells Street #2, Chicago, IL 60654
$600,000
503 N Wells Street #2, Chicago, IL 60654View this property at 503 N Wells Street #2, Chicago, IL 60654
503 N Wells Street #2ChicagoIL60654
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Property Description
New Renovated Luxury 4 Unit Walkup In Heart Of River North Is 1,800 sqft, Ultra Sunny, Extra Wide At 24 Feet, & Has Crazy-Low Assessments Of $445/mo. If you want to live in the heart of River North, but don't want to live in another cookie cutter box in the sky that feels like a dorm room and don't want to pay crazy high assessments, then you just might have found your dream home! This boutique 4 unit building in a 15 unit association offers privacy and scale. Unlike all the other high rises that feel like narrow bowling alleys, and are starved for size with low ceiling heights, this 1,800 sqft unit is extra wide at 24 feet, plus boasts 10.5 foot ceilings, so you feel size, width, and volume immediately! The 528 sqft (22x24) ultra-sunny open concept great room features 5 west facing bay windows, including a massive picture window, 10.5 foot ceilings, a distinct area for a huge 10+ person dining room table, and a cozy gas/wood fireplace. The kitchen features brand new appliances, new quartz counters, new backsplash, and fantastic built in lighting and designer cabinets. Newly refinished natural bright hardwood floors throughout! The spacious primary suite features new ceiling fan, sconce lights with dimmers, and includes an enormous wall of closets. The primary bath features a new 60 inch vanity with led mirrors, new tile, a bonus linen closet, a large Jacuzzi tub, and an oversized new glass shower. The massive 12x17 second bedroom also has new lighting, a new closet, and leads directly to a great private deck with city views which overlooks a super unique community patio and garden. It really is like you have your own city oasis! Brand new luxury full size Electrolux laundry included. The Assessments of $445 are extremely low, and out of the 195 two bed two bath properties that have closed in 60654 in the last 12 months this unit had the very lowest assessment. The average assessment was $892. Spreadsheet detail in marketing materials. The monthly savings of $447 ($892-$445) at a 7% interest rate equates to a $67K lower price. Therefore, the monthly expenses at an ask price of $625K is effectively like a $558K ask price with an average assessment amount from a monthly expense perspective! Even with these very low assessments, the association has $165K in reserves in this low amenity building. Garage Parking can be leased for $310 a month and is only one-quarter block away (See, last picture Blue= P). A+ River North Location which is 1/2 block to Lou Malnati's and Al's Beef, 1 block to the Merchandise Mart and El trains, 2 blocks to the Riverwalk, 2.5 blocks to Mastros Steakhouse, and 3 blocks to the East Bank Club.
Full Property Details
Full Property Details for 503 N Wells St #2
General
- Price: $600,000
- HOA FEE: $445/month
- Taxes: $11,312 (2022)
- Status: Active
- Type: Condo
- MLS ID: 12054195
- Updated: 5/20/2024
- Added to Site: 10 day(s) ago
Interior
- Basement: None
- Interior Features: Skylight(s), Hardwood Floors, Built-in Features, Walk-In Closet(s), Ceiling - 10 Foot, Separate Dining Room
- Fireplace: Yes
- Number of Fireplaces: 1
- Fireplace(s): Living Room, Wood-Burning
- Appliances: Range, Dishwasher, Refrigerator, Stainless Steel Appliance(s), Range Hood, Gas Cooktop, Gas Oven
Rooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 2
- Bathroom Features: Separate Shower, Soaking Tub
Bedrooms
- Total Bedrooms: 2
Additional Information
- Shared Amenities: Bike Room/Bike Trails, Storage, Sundeck, Patio, Public Bus
- Other Features: Commuter Bus, Commuter Train, Interstate Access
Exterior
- Exterior Features: Deck
Parking
- Garage: Yes
- Garage Ownership: Fee/Leased
- Garage Spaces: 2
- Total Spaces: 2
- Parking Type: Garage
Location
- Area: CHI - Near North Side
- County: Cook
- Township: North Chicago
- Driving Directions: Grand Ave to Wells Street, South on Wells to property (Wells & Illinois)
School Information
- School District: 299
- Elem School District: 299
- Midd School District: 299
- High School District: 299
- Elementary School: Ogden Elementary
- Middle School: Ogden Elementary
Community
- Assoc. Fees Include: Water, Insurance, Exterior Maintenance, Scavenger
- Pets Allowed: Yes
- Pets: Cats OK, Dogs OK
- Pet Restrictions: Cats OK, Dogs OK, / 999lbs.
- Mgmt. Company: Kane Property Management
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Natural Gas, Forced Air
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Structure Type: Condo, Mid-Rise (4 to 6 Stories)
- Exterior Const.: Brick
- Basement Desc.: None
- Foundation: Concrete Perimeter
- Roof: Rubber
- Stories/Levels: 4
- Square Feet: 1,800
- Sq. Ft. Source: Estimated
- Year Built: 1901
- Built Before 1978: Yes
- Remodeled/Updated: 2024
Unit Information
- Units in Building: 16
- Unit Floor in Bldg.: 3
Lot Features
- Lot Dimensions: COMMON
- Lot Features: Sidewalks, Streetlights
Animals
- Animals Allowed: Cats OK, Dogs OK
Financial Considerations
- Lease Price: $310
- Association Fee: $445
- Assoc Fee Freq.: Monthly
- Assessment Year: 1901
- Tax Amount: $11,312
- Tax Year: 2022
- Pays Sewer: Public Sewer
Disclosures and Reports
- Ownership: Condo
- Floor Plans: Yes
- Property ID: 17092450161008
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Schools
Schools serving 503 N Wells St #2
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
24 W Walton St, Chicago, IL 60610 | PK-8 | 0.7 mi | |
936 N Ashland Ave, Chicago, IL 60622 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 503 N Wells St #2
Date
Details
Price
Change
Source
5/13/2024
Listed
$600,000
20%
MLS
1/31/2007
Sold
$500,000
—
Public Record
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
Tax History for 503 N Wells St #2
Year
Property Taxes
Change
Tax Assessment
Change
2022
$11,312
2%
$54,999
—
2021
$11,060
8%
$54,999
20%
2020
$10,211
2%
$45,837
-8%
2019
$9,998
2%
$49,763
—
2018
$9,830
-11%
$49,763
-3%
2017
$11,067
7%
$51,408
—
2016
$10,296
9%
$51,408
—
2015
$9,420
11%
$51,408
12%
2014
$8,482
2%
$45,715
—
2013
$8,314
1%
$45,715
—
2012
$8,203
—
$45,715
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 503 N Wells St #2
503 N Wells Street #2, Chicago, IL 60654 (MLS# 12054195) is a Condo property with 2 bedrooms and 2 full bathrooms. 503 N Wells Street #2 is currently listed for $600,000 and was received on May 13, 2024. Want to learn more about 503 N Wells Street #2? Do you have questions about finding other Condo real estate for sale in Near North Side? You can browse all Near North Side real estate or contact a Coldwell Banker agent to request more information.