How Hot Is This Market? Selling 3 Months Later at 474 N. Lake Shore Drive in Streeterville

474 n lake shore drive approved

This 3-bedroom in 474 N. Lake Shore Drive in Streeterville just came on the market.

It has south and west views from the 49th floor with views of the Lake, River, the city and Trump Tower.

At 1600 square feet, the unit has Brazilian cherry floors in the living/dining area.

The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.

The unit has central air, washer/dryer in the unit and parking is available in the building for $30,000.

It actually just sold last year, in November 2015, for $612,000, including the parking.

Now listed at $655,000, with the parking, and with no new major renovations done to it since the last sale, is this going to test just how hot this market really is?

Cheri Cho at MC Realty has the listing. See the pictures here.

Unit #4908: 3 bedrooms, 2.5 baths, 1600 square feet

  • Sold in October 2006 for $721,500 (included the parking)
  • Sold in November 2015 for $612,000 (included the parking)
  • Currently listed for $625,000 (parking at $30,000 extra)
  • Assessments of $1182 a month (includes doorman, cable, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $8619
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×12
  • Bedroom #2: 12×14
  • Bedroom #3: 12×11

 

27 Responses to “How Hot Is This Market? Selling 3 Months Later at 474 N. Lake Shore Drive in Streeterville”

  1. People and their realtors are just making shit up these days, price-wise.

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    Rating: +10 (from 10 votes)
  2. I dont think you could get a cheaper level of finishes if you tried. Wire shelves behind a shower curtain in the bathroom?

    Nice job routing the dryer duct LOL

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    Rating: +11 (from 11 votes)
  3. I think there is something else going on here. The same LLC that bought this unit bought a 3/3 unit at 910 LSD around the same time last year and put it on the market a day before this unit came on – total holding time about 2.5 months. Both units were listed as rentals immediately after the LLC closed on them. Assuming they are successful at selling, both units will probably generate a loss after commissions, fees, and expenses.

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    Rating: +4 (from 4 votes)
  4. What the heck is up with the bathroom in pic 14? Is there no shower in there, but curtains to hide $20 worth of home depot wire shelving? WTF is that?

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    Rating: +2 (from 4 votes)
  5. Wow. I’ve never seen anything like that “shower.” What the hell is wrong with people?

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    Rating: +4 (from 4 votes)
  6. “Nice job routing the dryer duct LOL”

    What, zip-ties aren’t up to your luxury standard? You elitist U.

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    Rating: +1 (from 5 votes)
  7. “behind a shower curtain in the bathroom”

    Ikea curtains.

    “Nice job routing the dryer duct”

    Laundry closet pretty clearly laid out for a stackable set. Crap job on the duct, for sure, definitely a fire hazard, and probably a violation of some sort.

    “a cheaper level of finishes if you tried”

    Couldve gone with non-ss appliances.

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    Rating: +3 (from 7 votes)
  8. The colors in this unit also hurt my eyes. I’m sure there’s some Moldovan who appreciates this unit.

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    Rating: +1 (from 3 votes)
  9. I went back and re-looked at this as its making me giggle like a school girl its so bad

    -This has my nomination for the end of year worst combination of property, promotion and price (Sabrina – please tag thusly)

    -Something called Mc Reality Group will never get a dime out of me

    -the closet in the bathroom had to be a shower delete, no? For $625M, you’d think some bi-fold doors would be in order

    – I still cant get over the dryer duct being so boldly in the advertisement. Are we back to 2007 where anyone with a pulse was selling residential real estate?

    – The fact that someone actually took the time to zip tie the flex duct (Thanks Groove – didn’t see that the first time) is hilarious. No job is complete until there’s some bailing wire or Zip tie support!

    To our ABT employee of the month – could you swap out the SS stove for a black/white flat top?

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    Rating: +3 (from 3 votes)
  10. I think I can help with the “shower” mystery, as I lived in the building years ago in a 3 BR (tier 10, was mostly a mirror image of the 08 tier for top 15 floors). The 1/2 bath/powder room appears to be what is pictured, and it’s about the same size as a full bath, but with empty space at the back that’s probably big enough for a tub/shower, but not sure if it can be added. We built in some cabinets in that space, but these folks must have figured a curtain was a cheaper solution to get some storage.

    Decent building, though not cutting edge since 25 years old. Plusses are great location for convenience to LSD, Pier, New east side, etc.; Great views in all directions; indoor pool, health club. Minuses: no balconies; traffic congestion w/ limited drop off area; inconvenient garage (lots of levels of circling around; elevator down to ground level, through corridor to building to transfer to different elevator)

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    Rating: +5 (from 5 votes)
  11. “could you swap out the SS stove for a black/white flat top?”

    I think the flat tops are a little fancy, if you’re looking to go bottom of the barrel. I was thinking something more like this:

    http://www.kmart.com/kenmore-30inch-freestanding-electric-range-white/p-022W005284915001P?prdNo=1&blockNo=1&blockType=G1

    And of course a refrigerator that is obviously too small for the opening. That’s always a nice touch.

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  12. The light fixture in the bathroom is the exact one i bought at Lowes to put in my Aunty’s spare bathroom about 3 years ago. For the cheap price she says it still looks good and still works.

    The shower curtain, that just give the feeling of “i wonder what else was done lazily and as cheaply as possible”. What a cheap white bi-fold doors for that size would be $100 from Menard’s, and would take 30-45 minutes to install with a cheap drill, yet they couldn’t ever do that?

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  13. impossible! This one is below its bubble price and its in the green zone!

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    Rating: +3 (from 5 votes)
  14. “The shower curtain, that just give the feeling of “i wonder what else was done lazily and as cheaply as possible”. What a cheap white bi-fold doors for that size would be $100 from Menard’s, and would take 30-45 minutes to install with a cheap drill, yet they couldn’t ever do that?”

    unless that shelving was already there I would have simply put some floating shelves or left it alone. Even if he shelving was there, I probably would invest the time to remove it.

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  15. I would have bought a cabinet for that area. Since it’s a loft, I would have gone with something industrial.

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    Rating: -2 (from 4 votes)
  16. “Since it’s a loft, I would have gone with something industrial.”

    There is nothing loft like or industrial about this place.

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    Rating: +3 (from 5 votes)
  17. “I think there is something else going on here. The same LLC that bought this unit bought a 3/3 unit at 910 LSD around the same time last year and put it on the market a day before this unit came on – total holding time about 2.5 months. Both units were listed as rentals immediately after the LLC closed on them. Assuming they are successful at selling, both units will probably generate a loss after commissions, fees, and expenses.”

    “Edited by Sabrina.”

    The listing photos are just hilarious. The level of finishes….well, a fool and their money are soon parted.

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    Rating: -1 (from 1 vote)
  18. CribHater is right on this one. Yuck.

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  19. I lived here for a few years back in the 90’s when it was apartments. These are straight up typical 90’s apartments, there is nothing “loft” about them. The views east were killer though. Couple of Blackhawks lived on the upper floors.

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  20. Based on the listing quality it looks bank owned.

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  21. who is the dickless loser who keeps down voting innocuous comments?

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  22. Icky:

    You should try it, it’s F!U!N!

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    Rating: -3 (from 9 votes)
  23. “I lived here for a few years back in the 90’s when it was apartments.”

    Lol, it’s 2016 so it’s more than a few years. But thanks for mentioning. I was also going to point out this was a rental bldg. I don’t know who did the condo conversion but it was of the time/era of the INVSCO type stuff, although they didn’t do this one.

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  24. “Based on the listing quality it looks bank owned.”

    In 3 months since the last sale?

    Nope.

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  25. ““I lived here for a few years back in the 90’s when it was apartments.”

    Having recently attended my 20 year high school reunion, yeah, I understand this perfectly.

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  26. “Lol, it’s 2016 so it’s more than a few years”

    I lived there for a few years.
    Back in the 90’s.

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  27. This whole building is a disaster. It should never have been converted to condo.

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