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.

Based on information submitted to the  MLS GRID for MRED 2/20/2025. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2025 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 1:36 AM UTC, 2/20/2025

 

 

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