Lake Point Tower - 505 N Lake Shore Drive, Chicago, IL 60611
Lake Shore Drive Condos for Sale
THE LOCATION
Lake Point Tower is located just east of Lake Shore Drive between Illinois and Grand just west of Navy Pier in Streeterville. The building currently has a Walk Score of 86 and a Transit Score of 83. The Red Line Stop at State & Grand is just over 0.8 miles away. See its interactive Walk Score Map below.
While its walkability is on the lower side for a downtown location, its unique location east of Lake Shore Drive gives residents incredible lake views and incredible city views! There are also several on-site businesses.
THE BUILDING
505 N Lake Shore Drive was built in 1968 and houses 752 condos within its 70 stories. It has a private 2 1/2 acre park with a waterfall, grills and a playgound. There are also 2 pools (indoor & outdoor), a fitness center, spa, racquet/handball court, wifi lounge and valet parking. Parking can be leased ($250/mo.) or purchased. The high-rise also includes a small grocery store, Cite Restaurant, a salon, dentist, Pilates studio and dry cleaner. One dog up to 30 lbs. is allowed in the building, but not in the private park.
The hallways are getting a facelift which should be completed by 2013. Listing agents have quoted financial reserves anywhere from $2M to $5M. Owner occupancy is above 77%.
Each of the building’s 3 wings is separated from the elevators with doors giving a fair degree of privacy. Of course the east wing has the best lake views, but the west and north wings still have great lake views to the south and/or north. For more information on the high-rise and association visit “Lake Point Tower Condominium“.
505 N LAKE SHORE DRIVE, CHICAGO, IL 60611 WALK SCORE MAP
505 N Lake Shore Drive, Chicago, IL 60611 Walk Score Map for RSS & Mobile
505 N Lake Shore Drive 2210's View of Navy Pier
THE CONDOS
Lake Point Tower has studios, 1, 2, and 3 bedroom units. Many, but not all condos have in-unit laundry. Installation of washer/dryer hook-ups is allowed in some units, but not others. Each condo has separate water heaters for the kitchen and bathrooms. Cooking appliances are electric. Air conditioning is provided by wall units. All of the condos have built-ins at the bottom of the windows which double as seating and fresh air vents. None of the condos have balconies. The most recent sale at 505 N Lake Shore Drive was 4012, a 3 bedroom which sold in June for $1,062,500.
BUILDINGS SIMILAR TO 505 N LAKE SHORE DRIVE
ALL CONDOS FOR SALE AT 505 N LAKE SHORE DRIVE, CHICAGO, IL 60611
LAKE POINT TOWER
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Address | Price | Beds | Bath | SqFt | More Info |
|---|---|---|---|---|---|
| 505 N Lake Shore 4306-07 | $1,790,000 | 3 | 3 | 3000 | Photos & Info |
| 505 N Lake Shore 4912 | $1,400,000 | 2 | 3 1/2 | 2000 | Photos & Info |
| 505 N Lake Shore 6602 | $1,395,000 | 4 | 3 1/2 | 3250 | Photos & Info |
| 505 N Lake Shore 6705 | $1,300,000 | 1 | 2 | 2537 | Photos & Info |
| 505 N Lake Shore 4102 | $1,150,000 | 4 | 3 1/2 | 3000 | Photos & Info |
| 505 N Lake Shore 6202 | $995,000 | 3 | 2 1/2 | 1800 | Photos & Info |
| 505 N Lake Shore 5302 | $900,000 | 3 | 2 1/2 | 1806 | Photos & Info |
| 505 N Lake Shore 1203-4 | $848,800 | 2 | 2 | 2162 | Photos & Info |
| 505 N Lake Shore 6306 | $799,999 | 3 | 2 1/2 | 1806 | Photos & Info |
| 505 N Lake Shore 5311 | $750,000 | 3 | 2 1/2 | 1800 | Photos & Info |
| 505 N Lake Shore 1111-12 | $707,000 | 2 | 2 | Photos & Info | |
| 505 N Lake Shore 4602 | $650,000 | 2 | 2 | 1050 | Photos & Info |
| 505 N Lake Shore 2406 | $625,000 | 2 | 2 | 1450 | Photos & Info |
| 505 N Lake Shore 2901 | $600,000 | 2 | 2 | 1450 | Photos & Info |
| 505 N Lake Shore 2911 | $525,000 | 2 | 2 | 1430 | Photos & Info |
| 505 N Lake Shore 2701 | $499,000 | 2 | 2 | 1446 | Photos & Info |
| 505 N Lake Shore 416 | $499,000 | 2 | 2 | 1450 | Photos & Info |
| 505 N Lake Shore 2101 | $345,000 | 1 | 1 | 1100 | Photos & Info |
| 505 N Lake Shore 1805 | $310,000 | 1 | 1 | 706 | Photos & Info |
| 505 N Lake Shore 1302 | $289,000 | 0 | 1 | 706 | Photos & Info |
| 505 N Lake Shore 1302 | $273,400 | 0 | 1 | 706 | Photos & Info |
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ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale. Fran has been quoted in numerous Chicago and national publications. To schedule showings for any listings, get a free market analysis for your home or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
