Active
503 N Wells Street Unit: 3
Chicago IL, 60654
$550,000
$333.33 per sqft
Active
2 Beds
2 Baths
1,650 sqft
Condos
Built in 1901
Courtesy of Ask Nagel
New Renovated Luxury 3rd Floor Walkup In Heart Of River North Is 1,650 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 1,650 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 a price of $550K is effectively like 483K 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. Brand New HVAC just installed. **Priced To Sell!**: "Final & Best Price", "As Is" (but inspect away), & Buyer Paying Special Estimated At $15 to $20K.
12089315
MLSⓇ ID
June 20, 2024
Listed
February 20, 2025
Updated
Interior Features
Total Stories
4
Bedrooms
2
Total Bathrooms
2
Full Bathrooms
2
Interior Features
Skylight(s), Hardwood Floors, Built-in Features, Walk-In Closet(s), Ceiling - 10 Foot, Separate Dining Room
Appliances
Range, Dishwasher, Refrigerator, Stainless Steel Appliance(s), Range Hood, Gas Cooktop, Gas Oven
Laundry Description
In Unit, Laundry Closet
Fireplace
Yes
Fireplace Description
Wood Burning
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Natural Gas, Forced Air
Exterior/Building Features
Exterior Features
Deck
Lot Features
Sidewalks, Streetlights
Roof
Rubber
Sewer
Public Sewer
School Information
School District
299
Elementary School
Ogden Elementary
Other Property Details
Area Name
CHI - Near North Side
Taxes
$10,609
Tax Frequency
Annually
Days on Market
26
Association Fee
$445
Association Fee Frequency
Monthly
Association Amenities
Bike Room/Bike Trails, Storage, Sundeck, Patio, Public Bus
Garage
Yes
Garage Spaces
2
Parking Total
2
View
No
County
Cook
Municipality
North Chicago
Water Source
Public
Pets Allowed
Yes
Pool
No
Listing History
Date | Event | Price |
---|---|---|
7/15/2024 | Price change | $550,000 -9% |
Courtesy of Ask Nagel, Greg Nagel,
Listing Contact: 312-933-1432
The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Daniel Pape are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
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Data last updated 1:36 AM UTC, 2/20/2025