Michigan Avenue Tower II, located in the South Loop

SOUTH LOOP $199,990 to $1.599 million

Of the 257 units at Michigan Avenue Tower II, two four-bedroom penthouses and six one-bedroom condos remain for sale. That’s a big difference in size, but all the homes share a modern-day Art Deco exterior as well as proximity to restaurants, lakefront parks, and transportation—and a recent round of price cuts from the developer, Russland.

The one-bedroom condos—all originally priced in the $300,000s—start at $199,990 (for an 826-square-foot unit) and top out at $259,990 (for a 751-square-foot unit with a den that is on a high floor). A 3,400-square-foot penthouse—priced at $1.599 million, down from $2.1 million—has two large terraces atop the northeast and southeast corners of the building (at 1400 South Michigan Avenue). One flight down is a 4,063-square-foot penthouse—originally $1.899 million but now listed at $1.199 million—with a gigantic master suite and a kitchen-dining-living-room combination that spans a wall of south-facing windows. Parking spaces cost $37,500. Britta Rivera of Frankel & Giles is representing the building.


Photograph: Todd Urban