179 E Lake Shore Drive is located between North Lake Shore Drive and Michigan Avenue. It’s next to the Drake Hotel. East Lake Shore Drive is the same street as Oak Street except it’s east of Michigan Avenue. This block is considered to be in both the Gold Coast and Streeterville neighborhoods.
At 179 E Lake Shore Drive you’re just steps away from The Magnificent Mile and Oak Street Beach. The building currently has a Walk Score of 92 and a Transit Score of 88. The Red Line Stop at State and Chicago is less than half a mile away. See its interactive Walk Score Map below.
179 E Lake Shore Drive was built in 1927. The beaux-arts vintage high-rise houses 68 co-op apartments in its 30 stories. The building has a business center, exercise room, and wine cellars. The building delivers a high level of service including mail delivered to units and staffed elevators. Parking is leased at $100/mo. for the first 2 spaces. Rates are higher for additional spaces. Dogs are ok, if they weigh 30 lbs. or less.
Drake Tower also provides interior access to the Drake Hotel. It also has Chicago’s only automobile turntable allowing vehicles to reverse direction after pulling up to the front door (see photo below).
Numerous real estate sites incorrectly refer to this building as a condominium. It is a co-op which is an entirely different type of home ownership. Potential owners must be interviewed and submit a credit report and letters of reference. The minimum down payment for 179 E Lake Shore Drive is 50%. When I’ve asked listing agents about the co-op’s finances I’ve been told that it has over $2.5M in reserves.
THE CO-OP APARTMENTS
Cooking appliances are typically electric. Most have in-unit laundry. The most recent sale at 179 E Lake Shore Drive was unit 20W, a 2 bedroom apartment which sold in November for $2,850,000.
179 E LAKE SHORE DRIVE, CHICAGO, IL 60611 WALK SCORE MAP
CO-OPS SIMILAR TO 179 E LAKE SHORE DRIVE
ALL CO-OP APARTMENTS FOR SALE AT DRAKE TOWER – 179 E LAKE SHORE DRIVE, CHICAGO, IL 60611
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Notes On Co-op Apartments I've Previewed/Shown
|179 E Lake Shore Drive 29||$4,500,000||3||4 1/2||4965||Photos & Info|
|179 E Lake Shore Drive 14W||$2,950,000||3||3 1/2||2982||Photos & Info|
|14W has north, west and south views. West views are better than on lower floors in the building since it's near the top of the Drake Hotel immediately to the west.|
|179 E Lake Shore Drive 21E||$2,575,000||2||3 1/2||3518||Photos & Info|
|21E includes a library. The master suite includes a large sitting room and dual bathrooms. It has lake views to the north and east and views to the south.|
|179 E Lake Shore Drive 26E||$2,195,000||4||4 1/2||4000||Photos & Info||26E has north, east and south views. It has one of the largest utility rooms I've seen in an apartment.|
|179 E Lake Shore Drive 301||$499,000||1||1||950||Photos & Info||301 has views to the north.|
|179 E Lake Shore Drive 19W||$450,000||1||2||1013||Photos & Info|
|19W has lake views to the north and views of The Magnificent Mile to the west.|
|179 E Lake Shore Drive 1004||$419,000||1||1||1166||Photos & Info||1004's views are to the south and fairly limited by other buildings. Its cooktop is gas.|
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