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$801,000
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Property Description
This breathtaking duplex penthouse loft in the famed Franklin Lofts is a once-in-a-generation opportunity, offering the only penthouse in the building with a direct north-facing view from its walled terrace. With soaring ceilings supported by iron buttresses, exposed brick walls, hardwood floors, and rooms flooded with light, it exemplifies loft living at its most elegant and unique. The first floor features a huge open layout flowing seamlessly from living room to dining room to kitchen, distinguished as the only unit in the building with a genuine woodburning stove and gas cooking range. The kitchen boasts a double row of windows overlooking the terrace and city, generous counterspace, a desk area, a beverage fridge, and a peninsula with a bar sink facing the dining room, while a stackable washer and dryer add convenience; the building also offers a newly renovated laundry room for larger items. The primary suite on this level includes east-facing windows, hardwood floors, exposed brick, a long walk-in closet, and a private bathroom with a double vanity, deep soaking tub, and separate shower. Upstairs, the open second bedroom, currently used as a family room and study, features abundant built-ins with shelving, cabinets, and bookcases, along with a second bathroom offering a separate sink area and shower. The HVAC system was completely replaced this summer by the building for quiet, efficient comfort. Perfectly located in the center of the city's transportation hub, all CTA train lines are within two blocks, with a Red Line stop on Polk and a bus stop across the street, while highways and DuSable Lake Shore Drive are easily accessible from Ida B. Wells Drive. Surrounded by new restaurants, bars, shops, museums, theaters, universities, and the attractions of the Loop, it's also within easy reach of the University of Chicago, UIC, and Rush Medical Center. With a Walk Score that rates it a walker's and transit rider's paradise, residents also benefit from a protected two-way bike path beginning at the front door. Deeded parking is included in the nearby 801 Plymouth garage, though you may find that your car is rarely needed. The building has a bike room and a freight elevator harkening back to its industrial past opening to the street for easy move-in and out that recalls its days of hauling heavy loads of paper. Carefully managed by an attentive board and management, the building covers everything in its assessment except electricity. Heat, cooking gas, endless hot water, air conditioning, high-speed internet, and basic cable are all included. Supported by a reserve fund exceeding one million dollars and recent major upgrades like a new hot water boiler, this iconic penthouse is truly one of a kind.
Full Property Details
Full Property Details for 720 S Dearborn St #PH-1
General
- Sold For: $801,000
- HOA FEE: $1,223/month
- Taxes: $13,163 (2023)
- Status: Closed
- Type: Condo
- Source: MRED
- MLS ID: 12456101
- Added to Site: 179 day(s) ago
Interior
- Interior Features: Vaulted Ceiling(s), Elevator, 1st-Floor Bedroom, 1st-Floor Bath, Storage, Built-in Features, Walk-In Closet(s), Bookcases, Open Floorplan, Lobby, Replacement Windows
- Fireplace: Yes
- Fireplace(s): Living Room, Wood-Burning Stove, Free Standing
- Appliances: Range, Microwave, Dishwasher, Refrigerator, Bar Fridge, Washer, Dryer, Disposal, Front Controls on Range/Cooktop, Gas Cooktop, Gas Oven
- Flooring: Hardwood
Rooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 2
- Bathroom Features: Separate Shower, Double Sink, Soaking Tub
Bedrooms
- Total Bedrooms: 2
Additional Information
- Shared Amenities: Bike Room/Bike Trails, Coin Laundry, Elevator(s), Storage, On-Site Manager/Engineer, Security Door Lock(s), Service Elevator(s)
- Equipment: Cable TV, Fire Sprinklers, Carbon Monoxide Detectors, Ceiling Fan(s), Internet-Fiber
- Other Features: Commuter Bus, Commuter Train, Interstate Access, Historical District
Exterior
- Exterior Features: Lighting
Parking
- Garage: Yes
- Garage Spaces: 1
- Total Spaces: 1
- Parking Features: Asphalt, Garage Door Opener, Heated Garage, Garage, Off Site, Garage Owned, Detached
Location
- Area: CHI - Loop
- County: Cook
- Subdivision: Franklin Lofts
- Driving Directions: Dearborn is one way north from Polk (800 S) anchored by the Dearborn Station on the south end. It is 2 blocks west of State and one block east of Clark. The Red Line Harrison stop has an entrance on Polk within view of the building. The 62 and 22 northbound buses stop across the street. A couple of blocks north is the Harold Washington Library stop with Pink, Purple and Brown Line stops. Blue Line has 2 stops close by. A block and a half north is Ida B. Wells Drive for easy access to DuSable Lake Shore Drive, the Kennedy, Dan Ryan and Eisenhower Expressways. So easy!
School Information
- School District: 299
- Midd School District: 299
- Elementary School: South Loop Elementary School
Community
- Assoc. Fees Include: Heat, Air Conditioning, Water, Gas, Insurance, TV/Cable, Exterior Maintenance, Scavenger, Snow Removal, Internet
- Pets Allowed: Yes
- Pet Restrictions: Cats OK, Dogs OK, Number Limit, Size Limit, / 60lbs.
- Mgmt. Company: Tairre Management
Heating & Cooling
- Cooling Type: Central Air Conditioning, Electric
- Heating Type: Natural Gas, Forced Air, Individual Controls
Utilities
- Water: Lake Michigan, Public
- Onsite: Cable Available
Structural Information
- Structure Type: Condo/Duplex, High-Rise (7 or More Stories), Penthouse
- Construction: Brick
- Exterior Const.: Brick
- Basement Desc.: Partially Finished, Full
- Common Walls: End Unit
- Windows: Skylight(s), Window Treatments, Drapes, Aluminum Frames, Blinds, Double Pane Windows
- Doors: Sliding Glass Door(s), Storm Door(s)
- Sub-Flooring: Hardwood
- Entry Floor Number: 13
- Stories/Levels: 13
- Square Feet: 2,020
- Sq. Ft. Source: Plans
- Year Built: 1916
- Built Before 1978: Yes
Unit Information
- Units in Building: 59
Manufactured Home
- Model: Duplex penthouse
Lot Features
- Lot Dimensions: condo
- Lot Features: Mature Trees
Financial Considerations
- Association Fee: $1,223
- Assoc Fee Freq.: Monthly
- Parking Included: Yes
- Assessment Year: 1916
- Tax Amount: $13,163.28
- Tax Year: 2023
Disclosures and Reports
- Ownership: Condo
- Special Conditions: List Broker Must Accompany
- Property ID: 17164060321001
Listed by The Margie Smigel Group, LLC
Sold by Keller Williams ONEChicago
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Schools
Schools serving 720 S Dearborn St #PH-1
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
South Loop Elementary School 1212 South Plymouth Court, Chicago, IL 60605 | PK-8 | 0.4 mi |
Phillips Academy High School 244 East Pershing Road, Chicago, IL 60653 | 12-11 | 3.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 720 S Dearborn St #PH-1
Date
Details
Price
Change
Source
10/21/2025
Sold
$801,000
14.43%
MLS
8/27/2025
Listed
$700,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
720 S Dearborn Street #PH-1, Chicago, IL 60605 (MLS# 12456101) is a Condo property that was sold at $801,000 on October 21, 2025. Want to learn more about 720 S Dearborn Street #PH-1? Do you have questions about finding other Condo real estate for sale in The Loop? You can browse all The Loop real estate or contact a Coldwell Banker agent to request more information.

