ChicagoDowntown / Loop

73 East Lake Apartments, 73 E Lake St, Loop

by Joe Zekas on 9/3/13

73 East Lake, a 42-story, 332-unit apartment tower steps from Michigan Avenue in the Loop began construction in May of 2012. The building is topped out and occupancy is slated for June of 2014. The building will have 178 indoor parking spaces and ground-level retail space.

The developer is M & R Development. McHugh Construction was the general contractor and Solomon Cordwell Buenz the architecture firm.

The units

The apartments begin on the 11th floor. Studio apartments with alcove sleeping areas range in size from 682 to 695 square feet. One-bedrooms span 786 to 814 square feet, and 2-bedroom, 2-bath units are 1,072 to 1,246 square feet in size.

Nearly 45% of the building’s units are 2-bedrooms, an unusually high percentage for new downtown high-rises.

The apartments will include granite kitchens, stainless steel Energy Star appliances, designer baths, designer lighting, and full-sized washers and dryers. One-and 2-bedroom apartments, and studios on floors 31 and above, have small recessed balconies.

Rent levels have not yet been announced.

Views. The mid-block, off-park location of the building restricts the views from most of the apartments. Higher floor units, especially the ones facing south, will have decent views over Millennium Park. Views to the northeast are likely to be impacted by a proposed 45-story apartment tower at 200 N Michigan Ave.

Amenities, services, policies

The amenities package at 73 East Lake is similar to what you’ll find in virtually all of the new downtown high-rise apartment buildings.

A rooftop deck will feature an event room with 18-foot ceilings, cabanas, and a grilling area. The building’s ninth and tenth floor amenities will include an indoor pool, a spa with waterfall, sauna and steam rooms, a fitness center, yoga studio, a business center and conference room, a two-story cyber café and event space, and a theater and game room. Bike storage will be available at ground level.

73 East Lake was designed to U.S. Green Building Council LEED Gold standards.

The location

73 East Lake is in a solid walk-to-everything location at the northeast edge of the Loop, steps from Michigan Avenue and Millennium Park.

Walk Score gives the location a Walker’s Paradise score of 97 and a Rider’s Paradise transit score of 100.

Shopping. For groceries, Mariano’s is a few blocks to the east and a City Target is a few blocks south. The farmers market at Daley Plaza is a seasonal favorite.

A CVS Pharmacy is around the corner on Michigan Ave.

73 East Lake residents will have quick access to State Street shops in the Loop and along North Michigan Avenue’s Magnificent Mile.

Dining, nightlife. There are abundant options in the immediate area, but most cater heavily to tourists and office workers.

Parks, recreation. The building has outstanding proximity to parks and recreational activities.

The many attractions and events at Millennium Park, Grant Park and the Chicago Riverwalk are literally around the corner from the building.

Cultural attractions. Many of Chicago’s top cultural attractions are a short walk or quick cab ride away from 73 East Lake. The Loop’s theater district begins a block to the west and the Art Institute and Chicago Symphony are a few blocks to the south.

Transportation. Public transportation is outstanding. The CTA El stop at State and Lake is a block-and-a-half west of the property and serves 5 different routes, including Orange Line access to Midway Airport. The Lake Street subway stop on the Red Line is a few steps further and also has Pedway access to the Blue Line to O’Hare Airport. CTA bus routes in the area provide citywide connections.

The South Shore Line and Metra Electric, a block southeast of the property, both connect to McCormick Place and the University of Chicago.

Lake Shore Drive is a few blocks away. I-90/94, I-55 and I-290 can generally be reached within a few minutes.

The competition

73 East Lake’s most direct competitors are the nearby rental buildings in the New East Side neighborhood: the recently-completed Coast, Columbus Plaza, Aqua, The Tides, The Shoreham, North Harbor Tower and Millennium Park Plaza.

You might also consider condos for rent in Loop and New East Side buildings – they’re occasionally available at sharply lower rents than you’ll find in the rental buildings.

See YoChicago’s Guide to renting in Chicago’s Loop and New East Side and our at-a-glance list of downtown apartments for additional options and tips.

73 East Lake in the news

More recent items are listed first.

  • 73 East Lake tops out
  • Michigan Avenue’s dead zone coming to life
  • The ceremonial groundbreaking at 73 E Lake
  • Demolition update, Summit on Lake
  • East Loop apartment tower near groundbreaking
  • Share your take on 73 East Lake

    If you’ve visited 73 East Lake, and are not a real estate agent, add your thoughts in a comment. Comments are moderated, and commercial messages are not allowed.

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