Big-ticket homes on East Lake Shore Drive hit the market

209 E Lake Shore Dr, Chicago, image embedded from VHT.com

209 E Lake Shore Dr, Chicago, image embedded from Redfin 209 E Lake Shore Dr, Chicago, image embedded from Redfin

It’s been a big week for the super-luxe market — seven of the 50 homes in Chicago priced at $4 million or more were listed in the past seven days, including two spacious three-bedroom units on East Lake Shore Drive, priced at $6.42 million and $4.35 million, that have been available for less than 24 hours.

The former, the 6,000 square-foot unit #1E (above) in the co-op at 209 E Lake Shore Dr, has received a “truly exquisite, complete renovation” by architect John Ronan, and now features a modern design with extensive millwork and sleek moldings, says Baird & Warner agent Pamela Sage in the listing. The home overlooks Lake Shore Drive’s treetops and has “calming” lake views. 2009 taxes are $49,997, and monthly assessments are $9,479.

The latter, the 4,600 square-foot unit #5E (below) in the co-op at 199 E Lake Shore Dr, was on the market from September 7 to January 19, and then returned this morning. According to the listing by Janet Owen of Prudential Rubloff, the home has been completely gutted and renovated, and features a living room with bay windows, two terraces, a library, a master suite with spa bath, a solarium, and a 2,000-bottle wine room. Two parking spaces are included in the price. 2009 taxes are $26,632, and monthly assessments are $10,560.

Neither listing mentions its building’s financing requirements.

Other homes listed on East Lake Shore Drive range from a 1,200 square-foot one-bedroom / one-bath at the Drake Tower co-op, 179 E Lake Shore Dr, priced in the $540s, to a three-bedroom / 3.5-bath at 199 East Lake Shore, priced at $4.6 million. Redfin shows four sales on the street over the past year, ranging from $1.22 million for a condo at 219 E Lake Shore Dr to $2.62 million for a condo at the Mayfair, 189 E Lake Shore Dr.

The current average list time for a home on East Lake Shore is 149 days.

199 E Lake Shore Dr, Chicago, image embedded from Redfin.com listing 199 E Lake Shore Dr, Chicago, image embedded from Redfin.com listing

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