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$700,000
6 Days On Site

720 S Dearborn Street PH-1
Chicago, IL 60605

For Sale|Condominium|Active Under Contract
2
Beds
2
Total Baths
2
Full Baths
2,020
SqFt
$347
/SqFt
1916
Built
Subdivision:
Franklin Lofts
County:
Cook
Listing Courtesy of MRED as distributed by MLS Grid of The Margie Smigel Group, LLC
Call Now: 312-767-7744
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312-767-7744
720 S Dearborn Street PH-1720 S Dearborn Street PH-1720 S Dearborn Street PH-1720 S Dearborn Street PH-1
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This breathtaking duplex penthouse loft in the famed Franklin Lofts is a once-in-a-generation opportunity, offering the only penthouse in the building with a direct north-facing view from its walled terrace. With soaring ceilings supported by iron buttresses, exposed brick walls, hardwood floors, and rooms flooded with light, it exemplifies loft living at its most elegant and unique. The first floor features a huge open layout flowing seamlessly from living room to dining room to kitchen, distinguished as the only unit in the building with a genuine woodburning stove and gas cooking range. The kitchen boasts a double row of windows overlooking the terrace and city, generous counterspace, a desk area, a beverage fridge, and a peninsula with a bar sink facing the dining room, while a stackable washer and dryer add convenience; the building also offers a newly renovated laundry room for larger items. The primary suite on this level includes east-facing windows, hardwood floors, exposed brick, a long walk-in closet, and a private bathroom with a double vanity, deep soaking tub, and separate shower. Upstairs, the open second bedroom, currently used as a family room and study, features abundant built-ins with shelving, cabinets, and bookcases, along with a second bathroom offering a separate sink area and shower. The HVAC system was completely replaced this summer by the building for quiet, efficient comfort. Perfectly located in the center of the city's transportation hub, all CTA train lines are within two blocks, with a Red Line stop on Polk and a bus stop across the street, while highways and DuSable Lake Shore Drive are easily accessible from Ida B. Wells Drive. Surrounded by new restaurants, bars, shops, museums, theaters, universities, and the attractions of the Loop, it's also within easy reach of the University of Chicago, UIC, and Rush Medical Center. With a Walk Score that rates it a walker's and transit rider's paradise, residents also benefit from a protected two-way bike path beginning at the front door. Deeded parking is included in the nearby 801 Plymouth garage, though you may find that your car is rarely needed. The building has a bike room and a freight elevator harkening back to its industrial past opening to the street for easy move-in and out that recalls its days of hauling heavy loads of paper. Carefully managed by an attentive board and management, the building covers everything in its assessment except electricity. Heat, cooking gas, endless hot water, air conditioning, high-speed internet, and basic cable are all included. Supported by a reserve fund exceeding one million dollars and recent major upgrades like a new hot water boiler, this iconic penthouse is truly one of a kind.

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Listing Snapshot
Price 
$700,000
Days On Site 
6 Days
Bedrooms 
2
Inside Area (SqFt) 
2,020 sqft
Total Baths 
2
Full Baths 
2
Partial Baths 
N/A
Lot Size 
N/A
Year Built 
1916
MLS® Number 
12456101
Status 
Active Under Contract
Property Tax 
$13,163.28
HOA/Condo/Coop Fees 
$1,223 monthly
Sq Ft Source 
Plans
Friends & Family
Recent Activity
2 hours agoListing updated with changes from the MLS®
2 hours agoStatus changed to Active Under Contract
7 days agoListing first seen on site
General Features
Direction Faces 
East
Garage 
Yes
Garage Spaces 
1
Number Of Stories 
13
Parking 
AsphaltGarage Door OpenerHeated GarageGarageOff SiteDetached
Parking Spaces 
1
Pets 
Cats OKDogs OKNumber LimitSize Limit
Property Sub Type 
Condominium
Sewer 
Public Sewer
Utilities 
Cable Available
Water Source 
Public
Interior Features
Appliances 
RangeMicrowaveDishwasherRefrigeratorBar FridgeWasherDryerDisposalGas CooktopGas Oven
Basement 
Partially FinishedFull
Cooling 
Ceiling Fan(s)Central AirElectric
Electric 
Circuit Breakers100 Amp Service
Fireplace 
Yes
Fireplace Features 
Living RoomWood Burning StoveFree Standing
Fireplaces 
1
Flooring 
Hardwood
Heating 
Wood StoveNatural GasForced Air
Interior 
ElevatorEntrance FoyerVaulted Ceiling(s)StorageBuilt-in FeaturesWalk-In Closet(s)BookcasesOpen Floorplan
Laundry Features 
Main LevelWasher HookupElectric Dryer HookupIn UnitIn Kitchen
Window Features 
Aluminum FramesBlindsDouble Pane WindowsSkylight(s)Window TreatmentsDrapes
Bedroom 2 
Dimensions - 14X26Level - Second
Bedroom 3 
Bedroom 4 
Deck 
Dimensions - 18X15Level - Main
Dining Room 
Dimensions - 7X16Level - Main
Family Room 
Foyer 
Dimensions - 7X7Level - Main
Kitchen 
Dimensions - 11X18Level - MainDescription - Eating Area-Breakfast Bar,Galley
Laundry 
Dimensions - 3X3Level - Main
Living Room 
Dimensions - 19X28Level - Main
Master Bedroom 
Dimensions - 14X16Level - Main
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Exterior Features
Construction Details 
Brick
Exterior 
Lighting
Patio And Porch 
Deck
Windows/Doors 
Aluminum FramesBlindsDouble Pane WindowsSkylight(s)Window TreatmentsDrapes
Community Features
Association Amenities 
LaundryCoin LaundryElevator(s)StorageService Elevator(s)
Association Dues 
1223
Community Features 
SidewalksStreet Lights
HOA Fee Frequency 
Monthly
MLS Area 
CHI - Loop
School District 
299
Township 
South Chicago
Schools
School District
299
Elementary School
South Loop Elementary School
Middle School
Unknown
High School
Unknown
Listing Courtesy of MRED as distributed by MLS Grid of The Margie Smigel Group, LLC



Based on information submitted to the MLS GRID as of 2025-09-03 09:28 PM UTC. 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.
Last checked: 2025-09-03 09:28 PM UTC
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