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Review Building Profile of
Lake Point Tower
505 N. Lake Shore, Chicago, Ill., 60611(MAP)
Between Grand and Illinois, one block west of Navy Pier
Area:
Near North Side (8008)
Miles to public-transit stop:
0.1, to bus route(s) 29, 65, 66, 124; 0.7, to L
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| Fran Berry
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Click photo to enlarge
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Proud Participant Data in the yellow-tinted section provided by the condo association and/or its property manager or developer.
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| Who's Who
Management Company:
Habitat
Property Supervisor: Gary Lundemo
E-mail:
On-Site Manager:
John Derby Phone: 312-467-0505
Association President:
Patricia Spear
Doorman:
312-645-8805
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General Information
Type/Style:
Contemporary; High Rise; Glass
Occupied: 1968 Became a Condo: 1988
Stories: 70 Total Units: 720 Units/floor: 18
Residential units: 720
Residential units occupied by owner:
78%
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Parking:
Some Spaces Deeded; Guest; Tenant; Attended; Valet; Indoor; Heated
Restrictions:
No commercial offices; dogs allowed with limitations: 1 dog per unit, 30 lb. weight limit; rentals allowed with limitations: minimum lease: 6 months; no water furniture
Assessment
includes:
Cable TV; Water
Heat/Cool:
Heat: Space Zoneline; Electric; Cool: Window Sleeve Zoneline
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Facilities/Amenities
General:
Elevators (7 passenger, 2 service); Loading Dock; Landscaping; Receiving Room; Storage Locker; Web Site; Bike Room; Recycling Program; Off-Street Drive Through; Trash Chutes; Newsletter; Cab Light; Canopy; Closed Circuit TV; Snow Removal; 2.5 acre private park, outdoor BBQ, men's and women's locker rooms in fitness center, Ranked 73rd on list of America's Favorite Architectural Structures by American Institute of Archictects; Exercise room; Steam Room; Indoor Pool; Whirlpool; Sauna; Outdoor Pool; Clubhouse Party Room; Racquetball/Handball; Free Weights; Sundeck; Spa; Yard; Playground
Staff:
On-Site Manager, President, Maintenance Personnel, Building Engineer, Doorman
Commercial/Nonresidential uses:
Restaurant; Hair Salon; Laundry; Business Center; Grocery Store; Dry Cleaner
Security:
24HR Doorman; Locked Lobby; 24HR Guard; Smoke Detector; Video Monitors; FOB System
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Market Data
Prices of units currently on the market may be higher or lower than these 2008 MLS medians. Check with your agent.
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| Unit Type | BRs | BAs | SqFt | 2008 Median Price | Avg Monthly Assmt | Price/SqFt |
| Executive | 0 | 1.0 | 706 | $275,000 | $263 |
Buy $390
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| Ambassador (Corner) | 1 | 1.0 | 1,072 | $430,000 | $530 |
Buy $401
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| Diplomat (Center) | 1 | 1.0 | 1,087 | $385,000 | $491 |
Buy $354
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| 12 Tier* | 2 | 2.0 | 1,445 | $623,076 | $0 |
Buy $431
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| 1607 Tier | 2 | 2.0 | 1,800 | $600,000 | $708 |
Buy $333
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| Athens Penthouse* | 2 | 2.0 | 2,535 | $1,093,079 | $0 |
Buy $431
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| Monarch (Corner) | 2 | 2.0 | 1,430 | $610,625 | $866 |
Buy $427
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| Royal (Center) | 2 | 2.0 | 1,446 | $575,000 | $726 |
Buy $398
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| Geneva Penthouse* | 2 | 3.0 | 2,535 | $1,093,079 | $0 |
Buy $431
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| 1013 Tier | 3 | 2.0 | 1,800 | $750,000 | $676 |
Buy $417
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| Presidential | 3 | 2.5 | 1,784 | $875,000 | $1,092 |
Buy $490
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| 5011 Tier | 3 | 3.0 | 3,000 | $1,590,000 | $1,802 |
Buy $530
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| Paris Penthouse* | 3 | 4.0 | 2,900 | $1,250,465 | $0 |
Buy $431
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| London Penthouse* | 4 | 3.5 | 3,250 | $1,401,383 | $0 |
Buy $431
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| 6406 Tier* | 5 | 2.5 | 3,600 | $1,552,301 | $0 |
Buy $431
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An * after name of unit type indicates
that the Median Sales Price was estimated by using the average MSP per square
foot for all unit types in this building,
because no units of this type were reported closed during the 12-month period.
Annual Turnover:
3%. Average Market
Time:
173 days
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Annual Ownership Costs
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Low |
High |
Avg Per SqFt |
| Maintenance Fee |
$3,204 |
$15,900 |
$5 |
| Property tax (Based
on 2008 taxes) |
$2,449 |
$12,817 |
$4 |
| Utilities (Approx
$0.60/sf if heat inc. in assess, $1.15/sf if not) |
$1,446 |
$3,250 |
$1 |
| Homeowner's Insurance (Roughly
30 cents PSF) |
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| Parking
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| Rent (per
year)
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$2,580 (valet) |
$3,600 (self) |
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| Purchase
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$90,000 |
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Schools
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| Type | Name | Blocks to
Condo | $/Student | Enrollment | Stdnts/Tchr | Test Scores |
| Public Grade | Ogden Elementary | | $5,474 | | 18 | |
| Public High | Payton College Prep | | $11,922 | | 11 | |
| Public High | Wells Community Academy | | $11,802 | | 14 | |
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