new - 2 days on rocket

503 N Wells St Unit 2, Chicago, IL, 60654

$600,000

Home List Price

$7,125*

Closing Credit

2 Bedrooms
2 Full Baths
1,800 SqFt
$333/SqFt
Condo
Schools Nearby

Location

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503 N Wells St Unit 2, Chicago$600,000

Buyer Closing Credits

$7,125*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
Garage2 spaces
Year Built1901
HeatingNatural Gas, Forced Air
CoolingCentral Air
FireplaceWood Burning
MLS #12054195
StatusActive
(New)

About 503 N Wells St Unit 2

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.

Property Details

Property Features

Property Information:

  • Year Built: 1901
  • Stories: 4
  • Living Area: 1,800 SqFt

Listing Office:

  • Office Name: Ask Nagel
  • Office Phone: (773) 819-9210
  • Listing Agent: Greg Nagel

Interior Features

Interior Information:

  • Appliances: Range, Dishwasher, Refrigerator, Stainless Steel Appliance(s), Range Hood, Gas Cooktop, Gas Oven
  • Basement: No
  • Interior: Skylight(s), Hardwood Floors, Built-in Features, Walk-In Closet(s), Ceiling - 10 Foot, Separate Dining Room
  • Fireplace: Wood Burning

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • Exterior: Deck

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: No

Lot Features

Lot Information:

  • Lot: Sidewalk

Utilities

Utilities Information:

  • Heating: Natural Gas, Forced Air
  • Cooling: Central Air

School Info

Assigned Schools Information:

  • Wells Community Academy High School, Public District Grades 9-12
  • Ogden Elementary School, Public District Grades KG-8

Other

Directions Information:

  • Directions: Grand Ave to Wells Street, South on Wells to property (Wells & Illinois)

Price Information

Listing Price Info

Price Summary:

  • List Price: $600,000
  • Price Per SqFt: $333/SqFt

HOA Fees:

  • Amount: $445
  • Frequency: Monthly
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Housing Market Comparison

See how this home compares to others in Chicago, IL.

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Chicago, IL

City

Med. Sold Price

$349K

Med. Price/SqFt

$250

Avg. Days On Market

33

# of Sold Homes

2268

503 N Wells St Unit 2 vs Chicago

2 DAYS ON ROCKET

-31 Days

$600,000

+$250.9K More

$333/SqFt

+$83 More

KEY TAKEAWAY

This property is $250.9K more than the Median Sold Price and $83/SqFt more than other homes in Chicago, IL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MRED
  • MLS Number: #12054195

Listing Office:

  • Office Name: Ask Nagel
  • Office Phone: (773) 819-9210
  • Listing Agent: Greg Nagel

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The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than the broker/agent who owns the website are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers.

All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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.

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Copyright © 2024 Midwest Real Estate Data LLC (MRED). All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/15/2024, 2:15:40 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1450592
5
/10

  • Ogden Elementary School

  • 24 W Walton St

  • 0.68 miles

  • Public District Grades KG-8

High School

school-card-donut-1450593
1
/10

  • Wells Community Academy High School

  • 936 N Ashland Ave

  • 1.84 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $86,552. The majority of Chicago, IL residents have income between $100k-200k annually. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 503 N Wells St Unit 2

What is the listing price of this property?

The listing price of 503 N Wells St Unit 2 property is $600,000.

What type of property is this?

The property 503 N Wells St Unit 2 is a condo located in Chicago, Illinois, 60654.

Is this property for sale now?

Active Listing: 503 N Wells St Unit 2 is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 503 N Wells St Unit 2 are:
Ogden Elementary School: GreatSchools Rating 5/10
Wells Community Academy High School: GreatSchools Rating 1/10

How many bedrooms and bathrooms does this property have?

The property at 503 N Wells St Unit 2 has 2 bedrooms and 2 bathrooms.

What is the square footage of this property?

The property 503 N Wells St Unit 2 is 1,800 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 503 N Wells St Unit 2 is 1901.

Rocket Homes›Illinois›Cook County›Chicago›60654›503 N Wells St Unit 2

This home is located at 503 N Wells St Unit 2 in Chicago, IL and zip code 60654 in the Near North Side neighborhood. This 1,800 square foot home was built in 1901. Features: 2 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since May 13, 2024 and is currently priced at $600,000.

In April 2024, from all listings sold in Chicago, IL there were more than 867 sold above asking price, over 1023 sold below and more than 378 were sold right at the asked price. The number of listings in Chicago, IL increased by 18.4% between March 2024 and April 2024. While the average time on the market in April 2024 was 33 days, the median list price was $349,097.

From Rocket Homes Real Estate and based on county public records data.

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