Jump into the YouTube time machine and travel back to the 1960s to see the construction of Lake Point Tower, the 70-story residential high-rise at 505 N Lake Shore Ave. The three-part “Lake Point Tower: The Story of Building a Building,” made in 1969, is narrated by one of the tower’s architects, George Schipporeit.
Want to live in Lake Point Tower? Twenty-nine condos in the building are listed for sale:
- Six one-bedroom / one-baths with 1,100 square feet, priced from the $380s to $440s
- One two-bedroom / one-bath with 1,100 square feet, priced in the $390s
- 13 two-bedroom / two-baths with 1,450 to 2,300 square feet, priced from the $500s to $1.25 million
- Three two-bedroom 2.5-baths with 1,800 square feet, priced from the $890s to $970s
- One three-bedroom / 2.5-bath with 1,800 square feet, priced in the $840s
- Two three-bedroom / three-baths with 1,850 to 1,860 square feet, priced in the $940s and $970s
- One three-bedroom 3.5-bath with 3,000 square feet, priced at $1.09 million
- One four-bedroom / three-bath with 4,500 square feet, priced at $1.89 million
- One four-bedroom / 3.5-bath with 3,240 square feet, priced at $1.49 million
This building is still awesome. I love it. For the money and assessments, it offers better than adequate amenity, value and the always one-of-a -kind location. It’s great to look at and photograph.
That should be 28 units availble by Wednesday… my clients/friends close on one this week and I can’t wait to bring my kids to the private park and pools! Thanks for the video.
What else can you tell us about the current situation there?
residence
crime
assessment costs special assessments
thanks
kylie,
You may be the first person to question crime at Lake Point Tower. Not an issue. Assessments vary widely based on unit size and location. Check listings at a broker’s site.
The building currently has reserves in excess of $4 million, according to a building resident, who stated that assessments did not inrease this year.
I was at Lake Point Tower last Friday, viewing several units and touring the common areas with Francesca Rose of Prudential Rubloff and Jean Ward of Chicago Lakefront Properties.
You can see 5 videos from my visit at our Lake Point Tower playlist. More video, later.
The videos were sponsored by Francesca Rose.
Kylie,
I negotiated a recent deal in the building with the listing broker Jean Ward, who is also a resident of the bulding. My client’s are an attorney and nurse buying into the building who have a very good knowlege of high-rise living in the city. We looked at lots of buildings and for square footage among other things, we saw this as a value.
With negotiation, this building is a good bet for this amenity style of living and if you want the culture and cache of an iconic building. It is a unique location east of LSD and I get a kick just driving up to it.
For crime statistics down to the block and other types of information surrounding the building try http://www.everyblock.com
There is a wealth of information surrounding this building online including their web site at http://www.lakepointtower.org/outside_home.asp
As for cost of living, in my opinion, the assessment and specials have been reasonable for the square footage of units and amenity offered. The views are awesome from almost every unit which helps keep pricing more consistent and stable I think.
Have they taken care of the issues from the conversion (I know, I know, 30 years ago, but still…) and how is maintenance/upkeep? I have a friend who lived in LPT before the building was converted and upkeep was majorly skimped on, unfortunately. Apparently, there are cool aural effects from LSD – back when the S curve was still around – you would either here things like they were outside the window or not hear anything at all.