503 N Wells Street # 2
Chicago, IL, 60654 $ 600,000
Bedrooms2 Baths2.0 Sq 1,800 Monthly Estimate*
$ 3,988
for $600,000 with 2 bedrooms and 2 full baths. This 1,800 square foot condo was built in 1901.
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.
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Condo ContingentCondo,Mid Rise (4-6 Stories)
FeaturesGeneralInterior Features Skylight(s) Hardwood Floors Built-in Features Walk-In Closet(s) Ceiling - 10 Foot Separate Dining Room
Sewer Public Sewer
Heating Natural Gas Forced Air
Cooling Central Air
Possession Closing
Roof Rubber
Appliances Range Dishwasher Refrigerator Stainless Steel Appliance(s) Range Hood Gas Cooktop Gas Oven
Exterior Features Deck
HOA 445
Garage Spaces 2
Association Fee Includes Water Insurance Exterior Maintenance Scavenger
Pets Allowed Cats OK Dogs OK
Year Built 1901
Township North Chicago
Unit Number 2
Tax Year 2022
Percent Ownership Condo
Assoc Fee Paid Per Monthly
County Cook
New Construction N
Property Type Residential Attached Single
Association Amenities Bike Room/Bike Trails Storage Sundeck Patio Public Bus
Contingency Attorney/Inspection
Total Rooms 5
Status Contingent
Directions Grand Ave to Wells Street South on Wells to property (Wells & Illinois)
City Chicago
High School District 299
MLS Area CHI - Near North Side
Waterfront Y/N N
Street Name Wells
Elementary School Ogden Elementary
Tax Annual Amount 11312
Middle/Junior High School Ogden Elementary
Additional Parcels Y/N N
Virtual Tour https://smartfloorplan.com/adminka/public/api/shell/v491652/tour/idx
Days on Market 17
Standard Status Active Under Contract
Middle/Junior School District 299
Elementary School District 299
Sub Type Condo Mid Rise (4-6 Stories)
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InteriorBasement None None
Total Fireplaces 1
Fireplace Features Wood Burning
Total Stories 4
Full Baths 2
Half Baths 0
Street Suffix Street
Laundry Features In Unit Laundry Closet
Total Bedrooms 2
Room Type Balcony/Porch/Lanai
Total Baths 2
Bedrooms Possible 2
Bathrooom Separate Shower Soaking Tub
Total Number of Units 16
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ExteriorLot Features Sidewalks Streetlights
Water Source Public
Total Parking 2
Foundation Details Concrete Perimeter
Lot Dimensions COMMON
Garage Onsite Yes
Garage Type Detached
Garage Ownership Fee/Leased
Exterior Brick
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* Excluded FeaturesList Bynagel@asknagel.com;nagel@asknagel.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $3,988
- Monthly Property Taxes
- $943
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCondo listings in Chicago, IL
Average List Price $647,055
Percent of Sale Price 8%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
2641063 Elementary School
2641063 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
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5/13/2024 | $600,000 | | Listed Price |