Chicago · Cook County · IL
Homes for sale in
One Magnificent Mile.
- Active listings
- 3
- Median list
- $1.25M
- Avg time on market
- 20 days
- Sold · last year
- 7
Active listings
3 homes on the market
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About the community
Luxury condominium residences in a 57-floor tower at the top of the Magnificent Mile.
One Magnificent Mile is a mixed-use tower completed in 1983 at the northern head of Michigan Avenue, where the Magnificent Mile meets Oak Street and the Gold Coast edge of Streeterville. Designed by Skidmore, Owings and Merrill with lead architect Bruce Graham and the bundled-tube structural system of engineer Fazlur Rahman Khan, the 57-floor, pink-granite tower stacks retail, office, and residential uses, with about 181 private condominium residences occupying the upper floors, roughly floors 22 through 56. The angled, hexagonal geometry gives the homes head-on views of Lake Michigan, Oak Street Beach, and the Gold Coast, above one of the densest luxury shopping districts in the country.
At a glance
57-floor SOM tower
Designed by Skidmore, Owings and Merrill with Bruce Graham and engineer Fazlur Rahman Khan, completed 1983, clad in pink granite.
Lake and beach views
The angled hexagonal design gives residences head-on views of Lake Michigan, Oak Street Beach, and the Magnificent Mile.
Residences on floors 22-56
About 181 condominiums occupy the upper floors, in a low-density plan of as few as three to six homes per floor.
24-hour door staff
A staffed, multi-stage secure lobby with 24-hour door service and express elevators to the residential floors.
Indoor pool and fitness
An indoor swimming pool and swim club plus a fitness center serve residents.
Valet parking and garage
An attached garage with valet parking, generally bought or rented separately from the residence.
Top of the Magnificent Mile
At Michigan Avenue and Oak Street, steps from the Oak Street boutiques, flagship retail, and Oak Street Beach.
Chicago Public Schools
Served by CPS, with Ogden International commonly cited nearby. Confirm the attendance boundary by address with the CPS locator.
What’s close
One Magnificent Mile sits at the top of the Magnificent Mile at 950 North Michigan Avenue, where Michigan Avenue meets Oak Street and Lake Shore Drive bends east toward the lakefront.
- Building amenities
- The indoor pool and swim club, fitness center, 24-hour door staff, valet parking, and a multi-stage secure lobby.
- Dining and shopping
- Steps to the Oak Street boutiques, the Michigan Avenue flagship stores, and River North and Gold Coast dining.
- Lakefront
- Oak Street Beach and the lakefront path are essentially across the street, with Lake Shore Drive alongside.
- Schools
- Chicago Public Schools, with Ogden International commonly cited nearby. Confirm the attendance boundary by address with CPS.
- Transit
- CTA bus service along Michigan Avenue, the Red Line Chicago and Clark/Division stations within walking distance, and Lake Shore Drive for north-south car access.
- Parking
- An attached indoor garage with valet, generally purchased or rented separately from the residence.
What it’s actually like to live here
One Magnificent Mile is a lock-and-leave luxury address for buyers who want to live at the exact top of the Magnificent Mile. Step out the Michigan Avenue door and you are among the Oak Street boutiques, the flagship stores, and fine dining, with Oak Street Beach and the lakefront path a block away. The low residential density, as few as three homes per floor near the top, plus 24-hour door staff, express elevators, an indoor pool, and a fitness center, suits owners who split time between cities or travel often and want the building to simply run itself while they are away.
The tower's angled, hexagonal design delivers what many buildings cannot: genuine head-on views of Lake Michigan and Oak Street Beach from a structure that still lines up with the street grid. Interiors were built to a luxury standard, and because the building dates to 1983, many residences have been individually renovated over the years, so finishes and layouts vary from home to home and reward a close look unit by unit.
The honest tradeoffs are real. This is a full-service, staffed high-rise, so monthly assessments are meaningful and fund the pool, the fitness facilities, and around-the-clock service, and Cook County property taxes and parking are separate on top of that carrying cost. It is also a mixed-use tower with retail and office floors below the residences, which some buyers value for the convenience and lobby security and others weigh against a residents-only building. Buyers should underwrite the full monthly cost and review the association budget and reserves before committing. For current pricing and availability, see the live Market snapshot on this page.
The questions buyers actually ask
One Magnificent Mile FAQ
The questions I get most from buyers shopping One Magnificent Mile. If yours isn't here, text 224-385-8779, same-day reply.
- What does the HOA actually cover?
- Monthly assessments in this full-service tower are substantial and reflect around-the-clock staffing plus the pool and fitness facilities. Per building data they typically bundle heat and air conditioning, water, the door staff, cable and internet, the health club and pool, common insurance, exterior maintenance, snow removal, and security. Assessments vary by unit size, and Cook County property taxes and parking are billed separately, so confirm the current figures against the specific listing.
- What are property taxes like?
- Roughly $14,000 – $45,000 per year, depending on home size and value. Cook County assessor records are the source of truth. Happy to pull a specific bill on any home you're considering.
- When was One Magnificent Mile built?
- Skidmore, Owings & Merrill (lead architect Bruce Graham; structural engineer Fazlur Rahman Khan) built the community between 1983 and 1983. Skidmore, Owings & Merrill (lead architect Bruce Graham; structural engineer Fazlur Rahman Khan) stopped new construction in 1983, so every sale today is a resale.
- What's the typical closing timeline?
- 60 to 120 days from accepted offer to keys. Cash deals can close in two weeks. Conventional financing is usually closer to 120.
- Who designed One Magnificent Mile and when was it built?
- It was designed by Skidmore, Owings and Merrill, with Bruce Graham as lead architect and Fazlur Rahman Khan credited for the bundled-tube structural system, the same engineer behind the John Hancock Center and the Sears (Willis) Tower. The 57-floor tower was completed in 1983 and won a 1984 Best Structure Award from the Structural Engineers Association of Illinois.
- Is the whole building residential?
- No. It is a mixed-use tower. Retail occupies the lowest floors, office space sits in the middle, and the roughly 181 condominium residences occupy the upper floors, about floor 22 through 56, with their own secure lobby and express elevators.
- What are the residences like?
- Low-density luxury homes, from one-bedrooms near 1,700 square feet up to larger four-bedroom units around 3,000 square feet, plus duplexes and penthouses near the top. The angled design gives many units head-on lake and beach views. Many have been individually renovated, so finishes vary by home.
- What do the monthly assessments cover?
- Assessments fund a full-service package: 24-hour door staff, the indoor pool and fitness center, security, water, heat and air conditioning, cable and internet, common insurance, exterior maintenance, and snow removal. Amounts vary by unit size, and Cook County property taxes and parking are billed separately, so check the specific listing for current figures.
- Is there parking, and what amenities are there?
- The tower has an attached indoor garage with valet parking, generally bought or rented separately from the residence. Building amenities include a 24-hour doorman, an indoor swimming pool and swim club, a fitness center, and a multi-stage secure lobby. Some listings also cite a sundeck, whirlpool, and sauna, so confirm the current amenity list with management.
- What do the residences cost, and what are the taxes?
- Pricing reflects luxury Gold Coast values and varies by floor, size, view, and condition, so the most accurate answer is the live Market snapshot on this page. On taxes, Chicago residential effective rates commonly run in roughly the 1.6 to 2.0 percent range, though condominium assessments shifted in the recent reassessment cycle, so verify the current figure and any exemptions per unit.
- Who is the real estate agent for One Magnificent Mile?
- Joe Keegan is the local licensed Illinois real estate broker who covers One Magnificent Mile in Chicago, IL through Subdiview, a neighborhood-first home search for the Chicago suburbs and collar counties. Joe prices and negotiates from the live MRED sold comps for One Magnificent Mile specifically, not national averages, and can help you buy or sell here. Reach Joe at 224-385-8779 or joe@joekeeganhomes.com.
Your local agent
Joe knows One Magnificent Mile
Most agents will list anything. I focus on the places I actually know, and the things that move value here don't show up in the MLS write-up: which streets and buildings hold demand, what the HOA or assessments really cover, how the comps read once you account for condition and location, and where buyers consistently want to be.
When you're ready to tour or list, you want someone who has read the last 50 closed comps in this specific market, not a national average, and can tell you what they actually mean for your price. That's how I work. Text or call any time, and I'll give you a real take, not a brochure.
- Licensed Illinois broker
- Comp-driven pricing
- Chicago specialist
- Honest local market take
- Brokerocity
Market snapshot
One Magnificent Mile, by the numbers
Live MRED data, refreshed daily. The numbers below tell you what this market is doing today, not what Zillow's algorithm thinks it might be doing six weeks from now.
Typical list price
$1,250,000
Typical sale price · last 90 days
$1,000,000
Homes for sale right now
3
Avg time on market
20 days
Sold in the last year
7
This representation is based in whole or in part on data supplied by Midwest Real Estate Data, LLC for the period August 4, 2025 through August 4, 2026. Midwest Real Estate Data, LLC does not guarantee nor is it in any way responsible for its accuracy. Data maintained by Midwest Real Estate Data LLC may not reflect all real estate activity in the market.
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