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55 East Erie is a 56-story, 214-unit condominium tower in Chicago’s River North neighborhood.
When 55 East Erie was completed in 2004 it surpassed Lake Point Tower as the tallest all-residential high-rise in Chicago, and the building’s website still accords it that status. It has since been overtaken by 340 on the Park, Legacy and One Museum Park.
Fujikawa Johnson was the architect, Development Management Group the developer, and Walsh Construction the general contractor.
The building’s most distinctive feature at ground level is a block-long arcade along Erie between Wabash and Rush. Its most striking feature from a distance is what architecture critic Lynn Becker called “a big, dumb white box … a 50-foot-high bunker.”
The apartments
55 East Erie’s apartments include 1-bedrooms with 1 ½ baths, 1-bedrooms + den with 2 baths, 2-bedrooms with 2-baths, 2-bedroom plus den with 2 ½ baths and 3-bedrooms with either 2 ½ or 3 baths.
There are also four 4-story townhome-style units with private elevators and roof decks, and penthouse units with express elevator service.
Floors 14 through 33 typically have 6 units, while there are typically 5 per floor on floors 34 through 48, and two per floor on 49 through 55. The top floor is a single unit.
The building is sited on an east-west axis. It has a stepped-back configuration that lends itself to very workable floor plans, avoiding the walking-into-a-shoebox effect that you’ll experience in more squared-off high-rises.
All of the floor plans have at least one recessed terrace and some also include a balcony. Several of the units have large outdoor patios.
The units have large expanses of nearly floor-to-ceiling windows. There are gas fireplaces in living rooms, and gas ranges in the kitchens. Finishes vary widely according to the owner’s taste. All of the units have hookups for in-unit washers and dryers. Room sizes are generous.
Views. The building is sited on an east – west axis, affording striking skyline views to the north and south from higher floor units.
Lower-floor units, as illustrated here, also have decent views. The stepped-back configuration of the building maximizes the number of units that have views to the east.
Recent selling prices. A one-bedroom sold in May of 2014 for $490,000. Two-bedroom sales have ranged from the mid-$600s to the high-$800s. Two-bedroom plus den units were in the $1.15M to $1.49M range. Three-bedroom and larger units are priced upwards of $1.1M. At August 1, 2014 a 4,200 square foot penthouse was on the market for $5.7M. Parking spaces have sold for $35,000 to $51,000.
Amenities, services, policies
55 East Erie has an extensive amenities package.
There’s a large indoor lap pool with access to an adjacent outdoor promenade.
The building has a spacious fitness room with cardio and strength-training equipment, and it’s also adjacent to the outdoor promenade.
There’s also a whirlpool, men’s and women’s locker rooms with sauna and steam rooms, a hospitality room with catering kitchen, bicycle storage and an on-site dry cleaners.
55 East Erie has a spacious lobby with a club-like atmosphere and 24/7 door staff.
55 East Erie has on-site management, engineering and maintenance staff. The building is pet-friendly, subject to limits.
Parking. Parking spaces in the attached garage are deeded. There are both individual and tandem parking spots, and some unit owners own multiple parking spaces. No public or guest parking is available, but unit owners may authorize guests to park in a space they own.
Finances, litigation. Information about the building’s financial condition is unavailable at this time. There was no litigation pending on behalf of or against the condo association as of August 1, 2014.
Leasing. Owners are permitted to lease once in a twelve-month period. Leases are subject to advance submittal to the association, and to processing, application and move-in / move-out fees.
Rules & Regulations. A copy of the building’s Rules & Regulations, along with other documents, is available online.
The location
55 East Erie has an east central location in the River North neighborhood.
The location has good proximity to the Gold Coast, the Magnificent Mile, Streeterville and the Loop.
Some of the locals refer to the neighborhood as the Cathedral District, a moniker promoted by developers a decade ago when River North lacked the cachet it has since attained. The Cathedral District, bounded by Michigan Ave, Ontario St, State St and Chicago Ave, is home to Holy Name and St James Cathedrals.
Loyola University’s Water Tower campus is a few blocks north. Northwestern and Lurie Children’s hospitals are a short walk northeast.
Shopping. Grocery shopping doesn’t get much more convenient. Whole Foods inaptly-named “Gold Coast store” is a short block north and another west. Trader Joe’s is just around the corner. Jewel-Osco is two short blocks south and a block west. Eataly is two short blocks south. There’s also an abundance of convenience stores, delis and specialty food shops in the immediate area.
Michigan Avenue’s Magnificent Mile shops are two short blocks east.
Oak Street boutiques are a few blocks to the north. Macy’s and other State Street shops are less than a mile south.
Dining, nightlife. In brief, you’ll find a dizzying number and variety of restaurants, bars and night spots within just a few blocks of 55 East Erie – more than you’ll ever find time to visit.
Parks, recreation. Park space is scarce in the immediate area.
The Pepper Family Plaza, just around the corner from 55 East Erie, is a quiet gathering spot.
Lake Shore Park, which has a running track, softball fields, tennis courts, a playground and a small field house, is a few blocks northeast of the building.
The popular Oak Street Beach is within walking distance.
Transportation. Public transportation is excellent. The CTA Red Line stop at Grand Ave is four short blocks from 55 East Erie.
A variety of CTA bus routes traverse State St, Michigan Ave, Chicago Ave and Grand Ave near the property.
The location has relatively quick access to I-90/94 and the city’s expressway grid via the Ontario St / Ohio St on / off ramps.
Zipcar locations are nearby. Taxi service is continually available 24/7.
Similar buildings
The immediate area has an abundance of luxury condominium towers. The Fordham and The Pinnacle are just a few of the available options near 55 East Erie.
55 East Erie in the media
More recent items are listed first.
Condo board sues prominent money manager River North unit listed for $5.15 million Condo flippers keep busy What’s wrong with this picture? When is a townhouse a townhome? 55 East Erie down to 7 units 20 units left at 55 East Erie Reach for the sky A new ‘mansion’ on Erie Wikipedia
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