2014 Market Report - Crane Building, 888 S. Michigan, Chicago, IL
The Crane Building is a boutique condo building overlooking Grant Park and Lake Michigan in the South Loop neighborhood of Chicago. The 12-story high-rise was built in 1912 by the Crane plumbing and heating supply company. Crane maintained their offices in the building until 1960. The building was renovated into 35 condo units and added to the National Register of Historic Places in 2002.
What is the Building Like?
Crane Building, 2014 Sales
There were 3 units sold in 2014 at an average sales price of $429,167. Units sold at 93% of the last list price and spent an average of 312 days on the market.
Broken down by unit size there were:
One 1 bedroom unit sold for $297,500 after 100 days on the market.
Sold Price to Original Price Ratio: 92%
Sold Price to Last List Price Ratio: 96%
Two 2 bedroom units sold at an average price $495,000 after an average of 418 days on the market.
Average Settled Price to Original Price Ratio: 82%
Average Settled Price to Last List Price Ratio: 92%
Currently On The Market
Information in this market report is from the Midwest Real Estate Data, (MRED) MLS. It does not include for sale by owners or any other private sale that was not reported to MRED.
Karen Winters, Broker Associate
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