Back 501/1623 W Melrose St
Off Market

501/1623 W Melrose St

Chicago IL 60657

3
2
1
2115 sq. ft.
Condo
Last sold for $925,000
Emily Sachs WongEmily Sachs Wong, last sold this property on 20 November 2025 after 55 days on market.

Overview

This expansive penthouse is located in the best Lakeview location and features a huge private terrace with outstanding space. Located in the former Citizens State Bank building, offering a unique blend of timeless history and the present. Amassing over 2000 square feet, the interior features three generous bedrooms, two full baths, and a chef's kitchen with high-end Wolf and Sub-Zero appliances. A sprawling, 1,300+ square-foot west-facing private terrace provides great space for outdoor entertaining and relaxation and adds to the living space in the warmer months. An oversized covered parking space is included in the price. You will be just steps from the vibrant dining, shopping, and entertainment including nearby Southport corridor, all while being quietly tucked away on Melrose in this beautiful, boutique elevator building.

Features

3 bedrooms
2 bathrooms
1 carspace
1 garage space
2115 sq. ft. floor area
Condo

Estimated Value

Based on this property and similar 3 bedroom condos sold in Chicago over the last 12 months, the estimated median property value of 501/1623 W Melrose St is $865k.

Median value
$865k
Estimated value range
$310k - $1.77m
Median days on market
7
Estimated value trend
17%
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 501/1623 W Melrose St

2025
Sold
$925,000
20 Nov 2025 by Emily Sachs Wong, of @properties Christie's International Real Estate
2017
Sold
$830,000
02 Jun 2017 by Zane Jacobs, of Redfin Corporation
2014
Sold
$722,500
05 Sep 2014 by Robert John Anderson, of Baird & Warner

Happy sellers in Chicago

94%
94% 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 3 reviews in Chicago over the last 12 months.

Local market activity for 3 bedroom condos in Chicago

In the last 12 months, 250 three-bedroom condos similar to 501/1623 W Melrose St, have been sold.

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

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