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551 W Melrose Street Unit 1E

Chicago, IL 60657

Name: Open House: 11am-1pm
Start: 2025-05-18T11:00:00
End: 2025-05-18T13:00:00
Location: 551 W Melrose Street Unit 1E

2 beds
2 baths
1,600 sqft
$321 per sqft
1920 build
– on site

Flooded with natural light and filled with charm, this oversized 2-bed + den, 2-bath home in East Lakeview offers the perfect blend of vintage elegance and modern updates-just one block from Nettelhorst Elementary and the lakefront. With nearly 1,600 square feet of living space, the sun-drenched layout features gleaming hardwood floors, elegant crown molding, and bay windows that pour in natural light. The kitchen features stainless steel appliances and a pantry closet. Two generous bedrooms include a primary suite with walk-in closet and ensuite bath. The flexible den is perfect for a playroom, nursery, or reading nook. Downstairs, a massive heated basement space (private to this unit) offers incredible versatility for a home office, art studio, gym, or all of the above. Parking is available for rent in the area. Just blocks from Belmont Harbor, the Lakefront Trail, CTA, and top dining. Well managed, pet and investor friendly building with 92% owner occupancy. Welcome to the best of city living!

Listing courtesy of MRED / Compass as distributed by MLS GRID

Last checked: Checking… • Last updated May 14, 2025 •

MLS# 12365478 —

The Building

Year Built:

1920
Rebuilt:

No
New Construction:

false
Construction Materials:

Brick
Basement:

Finished, Storage Space, Partial
Disability Access:

No
Stories Total:

3
Living Area Source:

Estimated
Entry Level:

1

Interior

Room Type:

Den
Rooms Total:

6
Laundry Features:

Laundry Closet

Room Dimensions

Living Area:

1600

Location

Directions:

Inner LSD to one block north of Belmont, Melrose is one way going west
Location:

87291

The Property

Parcel Number:

14213140501007
Property Type:

Residential
Lot Size Dimensions:

COMMON
Waterfront:

false
Additional Parcels:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Annual Amount:

6895.95

Beds

Bedrooms Total:

2
Bedrooms Possible:

2

Baths

Baths:

2
Full Baths:

2

The Listing

Virtual Tour Unbranded:

Virtual Tour
Special Listing Conditions:

List Broker Must Accompany

Heating & Cooling

Heating:

Natural Gas, Steam
Cooling:

Wall Unit(s)

Utilities

Water Source:

Lake Michigan

Appliances

Appliances:

Range, Dishwasher, Refrigerator, Washer, Dryer

Schools

Elementary School:

Nettelhorst Elementary School
Elementary School District:

299
Middle Or Junior School District:

299
High School District:

299

The Community

Pets Allowed:

Cats OK, Dogs OK
Association Amenities:

Bike Room/Bike Trails, Coin Laundry, Storage
Association Fee:

433
Association Fee Includes:

Heat, Water, Insurance, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal
Association Fee Frequency:

Monthly
Master Assoc Fee Frequency:

Not Required

Monthly cost estimate

Asking price

$514,900

Expense	Monthly cost
Mortgage	$2,757
Taxes	$574
Insurance	$141
HOA fees	$433
Utilities	$178 See report
Total	$4,083/mo.^*
	^*This is an estimate

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Sale history

Date	Event	Source	Price	% Change
5/14/25 May 14, 2025	Listed / Active	MRED	$514,900	5.1% (4.3% / YR)
3/4/24 Mar 4, 2024		MRED	$490,000	-1.8%
1/31/24 Jan 31, 2024		MRED	$499,000

56% of nearby similar homes sold for over asking price

Similar homes that sold in bidding wars went $25k above asking price on average, but some went as high as $102k over asking price.

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This condo located in North Side, Chicago, IL 60657 is currently for sale for $514,900. 551 W Melrose Street Unit 1E is a 1,600 square foot condo with 2 beds and 2 baths that has been on Estately for 0 days. 551 W Melrose Street Unit 1E is in the North Side neighborhood of Chicago. This condo is in the attendance area of Nettelhorst Elementary School and Lake View High School.

Listing courtesy of MRED, Compass, and Alexandre Stoykov as distributed by MLS GRID.

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 Signal Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is 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.
© 2025 Midwest Real Estate Data LLC
Information deemed reliable but not guaranteed by MLS GRID. Use of MLS GRID 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.

Based on information submitted to MLS GRID as of May 14, 2025, 08:33 pm. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.