505 North Lake Shore Drive, Chicago, IL 60611
Here are the Lake Point Tower condos for sale and rent with their location, building and apartment information.
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.
|$1M or More||3 or More|
|$700K - $1M||2|
|$400K - $700K||0 or 1|
|$400K or Less|
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Lake Shore Drive Condos for Sale
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Lake Point Tower was built in 1968 at 505 North Lake Shore Drive and houses 752 condos within its 70 stories. It has a private 2 1/2 acre park with a waterfall, grills and a playground. There are also 2 pools (indoor & outdoor), a fitness center, spa, racquetball/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 face lift 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.
Lake Point Tower condos are self managed. They does not utilize an outside property management company. You can reach the property management office at 312-467-0505. The phone number for the front desk is not public. For more information on the high-rise and association visit “Lake Point Tower Condominium“.
505 N Lake Shore Drive 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.
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 has a Bike Score of 55. A Divvy bike sharing station is on the south side of the building.
According to WalkScore.com, 505 N Lake Shore Drive has a Crime Grade of A. That means it’s a lowest crime area compared to all of Chicago.