One by one, each of RDM Development‘s projects shifted over to Jameson Real Estate this year. The brokerage started marketing Trio in January and Vision in June, so it comes as no surprise that it has taken on 1400 Lake Shore Drive as well. The company’s hook for the converted tower is a doozy: “Prestigious Lake Shore Drive address in the heart of the Gold Coast for prices we haven’t seen since 1988!”
Jameson’s new promotions advertise one-bedrooms starting in the $130s, two-bedrooms from the $160s, and three-bedrooms from the $390s. The company doesn’t dole out a lot of information in its listings, and almost never lists every home available in big developments like this, so I don’t have a good sense of the square footage or full rprice ange for each tier, but the six homes that Jameson agent Norge Clemente put up on the MLS this month fit these new starting points. One one-bedroom is priced as high as the $180s, and her only two-bedroom listing is priced in the $290s, so that may give you a sense for the upper end for those two home types.
For the sake of comparison, we reported in late 2008 that Coldwell Banker was marketing studios from the $140s, one-bedrooms from the $180s, two-bedrooms from the $290s to the $570s, and three-bedrooms from the $320s to the $590s. Many of the building’s resales, including four short sales located there, fall within those ranges, the only exceptions being a number of small studios that are priced from the $110s and $130s.
The 83-year-old tower at the northwest corner of Lake Shore Drive and Schiller Street was designed as a hotel but ended up as a co-op apartment building until the 1950s, when the apartments were converted to luxury rentals. At the outset of the building’s most recent conversion, RDM had planned to sell homes “as-is” or with upgrades. According to Jameson’s new listings, however, all units will be renovated with maple cabinets, stainless-steel appliances, granite countertops, and glass mosaic backsplashes.
Amenities at 1400 Lake Shore Drive include a fitness center, a 24-hour door staff, a rooftop deck, dry cleaning, and a commissary.