Back 1E/551 West Melrose Street
Off Market

1E/551 West Melrose Street

Chicago IL 60657

2
2
1600 sq. ft.
Condo
Last sold for $492,000
Alexandre StoykovAlexandre Stoykov, last sold this property on 16 July 2025 after 84 days on market.

Overview

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!

Features

2 bedrooms
2 bathrooms
1600 sq. ft. floor area
Condo

Estimated Value

Based on this property and similar 2 bedroom condos sold in Chicago over the last 12 months, the estimated median property value of 1E/551 West Melrose Street is $523.75k.

Median value
$523.75k
Estimated value range
$3.67k - $1.11m
Median days on market
7
Estimated value trend
13%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Chicago. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 1E/551 West Melrose Street

2025
Sold
$492,000
16 Jul 2025 by Alexandre Stoykov, of Compass
2024
Sold
$490,000
04 Mar 2024 by Robert Reyes, of Realty of Chicago LLC
2010
Sold
$250,000
20 Oct 2010 by Tod Pratt, of Berkshire Hathaway HomeServices Chicago

Happy sellers in Chicago

90%
90% of sellers in Chicago reported that their sale price either exceeded or met their price expectations.

Chicago stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Chicago over the last 12 months.

Local market activity for 2 bedroom condos in Chicago

In the last 12 months, 459 two-bedroom condos similar to 1E/551 West Melrose Street, have been sold.

This represents a 14% increase in two-bedroom condos sales when compared to the previous 12 months.

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