2-Bedroom with Lake Views for $585,000: 474 N. Lake Shore Drive in Streeterville
This 2-bedroom in 474 N. Lake Shore Drive in Streeterville came on the market in October 2021.
Built in 1991, 474 N. Lake Shore Drive was converted to condos during the housing boom in 2005-2006.
It has 501 units and an attached parking garage with deeded parking.
It’s a full amenity building with door staff, an exercise room, an indoor lap pool, and a 16th floor sundeck with grills.
This unit is on the Northeast corner and has Lake and Navy Pier views.
It has newly renovated white-oak herringbone floors in the living/dining rooms and kitchen.
There is new carpet in the bedrooms.
The kitchen has gray soft-close Euro-style cabinets, LED under cabinet lighting, white quartz counter tops and backsplash, an undermount sink and all new appliances including a Bosch dishwasher, Samsung stainless steel refrigerator and convection oven with under cabinet exhaust fan.
The listing says the primary bathroom has been “fully renovated” with a walk-in-shower with Hansgrohe fixtures and new vanity.
The second bathroom has a subway tile surround on the shower.
The unit has the features buyers look for including central air, side-by-side washer/dryer in the unit and deeded garage parking is included.
Listed in October 2021 at $585,000, is this a building for those looking for views?
Ben Chen and Sharon Kay Rizzo at Compass have the listing. See the pictures and floor plan here.
Unit #4105: 2 bedrooms, 2 baths, 1257 square feet
- Sold in May 2006 for $235,000
- Sold in December 2014 for $522,000 (included parking)
- Originally listed in October 2021 for $585,000
- Currently still listed at $585,000 (includes deeded garage parking)
- Assessments of $1,032 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes of $9748
- Central Air
- Side-by-side washer/dryer in the unit
- Bedroom #1: 15×12
- Bedroom #2: 12×11
- Living room: 19×16
- Dining room: 14×9
- Kitchen: 13×8
Closer to 1000sf than 1250
I’d take 5602 over this and pocket $50k
under contract.
“I’d take 5602 over this and pocket $50k”
not a fan of the color palate of that place, especially the floors and built-ins. floors look to be LVP
Parking included in pricing should be the standard since the majority opts for parking.
wow a new Bosch dishwasher, that shit is like unobtanium these days
Parking included in price isn’t something often seen in this neighborhood. Definitely helps elevate this unit above many others in similar anonymous 1980’s boxy towers nearby. Unfortunately, the unit is pretty forgettable and main views are partially blocked. I also think this location is a bit isolated. Same problem I have with LPT.
Amenities look decent, hoewever.
Agree 5602 is a nicer unit, but barely has a lake view. People pay for lake views, especially in a building like this which doesn’t have a lot more going for it.
It is so close to being perfect! I like the herringbone floors and kitchen even if I would prefer white cabinets. No bathtub in the master and no outdoor space really kills it though.
Is this the building that is sinking?
“Agree 5602 is a nicer unit, but barely has a lake view. People pay for lake views, especially in a building like this which doesn’t have a lot more going for it.”
While I agree with you, I’ve been reliably informed that looking directly into the neighboring building (aka – City Views) are preferred
Noticed the bathroom exhausts are locked in the shower, I would assume that its a constant battle keeping the rust at bay
“Parking included in pricing should be the standard since the majority opts for parking.”
I was also reliably informed that no Millennial wants to drive or own a car, and as they are driving the market, the value should be near or at zero.
“I like the herringbone floors and kitchen even if I would prefer white cabinets. No bathtub in the master and no outdoor space really kills it though.”
I’ve seen a bunch of herringbone floors in rehabs recently and was wondering if this was the new trend we’re going to be seeing over the next few years. Do buyers want herringbone now?
Also, I’ve seen gray and dark blue kitchens a lot lately too. Is the white kitchen finally going “out”?
“Parking included in pricing should be the standard since the majority opts for parking.”
This is a decision that realtors and sellers have to think about, right?
A unit can appear “cheaper” if you strip out the parking and list it separately. But personally, I like it included because the negotiation on price is a bit different. When it’s stripped out, buyers tend to want the parking “thrown in” and you’ll get less for the parking, in the end.
“Closer to 1000sf than 1250”
No. It’s closer to 1200 than 1000 square feet.
Separate dining room, 2 good sized bedrooms, walk-in-closet, foyer and hallway.
No way this is 1000 square feet.
“I’d take 5602 over this and pocket $50k”
What’s interesting about 5602 is that Redfin says it sold in 2006 for $585,000.
Bubbles are nasty. It can take decades to recover if you buy near the top.
“Is this the building that is sinking?”
Haven’t heard this about ANY buildings in Chicago Lauren. Maybe you are thinking about the tower in San Francisco?
“under contract.”
Thanks for the update marco.
There is slim pickings on the market right now but sales remain hot. Prices are going to rise in Chicago this spring, even downtown, simply due to the record low inventory.
In Streeterville, 71 properties are under contract. Just 327 properties still available as “active.”
In many high rises, there is nothing listed right now. And many buyers want to be in certain buildings.
This is all good news for sellers.
Also, if you are looking between $500,000 and $700,000 right now in Streeterville, there are just 37 properties.
The spring market in Chicago is going to be very interesting.
In 2021, 134 properties sold in Streeterville between $500,000 and $700,000. Just 37 on the market right now.
13 are under contract, however, including this unit.
Here’s a new listing in the building. On 43 and listed at $499,000.
Garage parking is additional at $30,000, however.
If you are going to sell this spring, are you listing now with inventory so low?
https://www.redfin.com/IL/Chicago/474-N-Lake-Shore-Dr-60611/unit-4302/home/12616180
“No. It’s closer to 1200 than 1000 square feet.
Separate dining room, 2 good sized bedrooms, walk-in-closet, foyer and hallway.
No way this is 1000 square feet.”
Main block is 880sf. The entryway and bath isn’t 300+ sf
They’re also including 160sf for the parking stall
Looks like 2022 is more of the same…
“Sorry Johnny U. No way this is 1000 square feet.”
I’ve lived in 1000 square feet. You’re not fitting in two bedrooms at 15×12 and 12×11 with a WIC and dining room space at 1000 square feet.
Plus two bathrooms. And side-by-side laundry.
Just. Not. Happening.
This building is 40 years old. They’ve figured out the square footage by now.
I remember reading (maybe even tv news) years ago that a building near the Spire hole (474 is across Ogden slip) was sinking a tiny amount each year. Can’t find anything about it. I think about it every time I go past this building. Maybe it was a weird dream.
“I’ve lived in 1000 square feet. You’re not fitting in two bedrooms at 15×12 and 12×11 with a WIC and dining room space at 1000 square feet.
Plus two bathrooms. And side-by-side laundry.
Just. Not. Happening.
This building is 40 years old. They’ve figured out the square footage by now.”
05 tier 1085sf – https://photos.zillowstatic.com/fp/3059e171684f47875d6fc7e0079ed686-uncropped_scaled_within_1536_1152.webp
So
In 40 years Realators, Shills & Smolettes haven’t figured out the sf.
Any yes its closer to 1000sf than both you & the realators claim
I guess this is as good as any excuse to open a box-o-wine
I was also reliably informed that no Millennial wants to drive or own a car, and as they are driving the market, the value should be near or at zero.
“But in 2020 millennials bought more new cars than any other age group, accounting for 32 percent of total new-car sales” (cars.com)
Everyone knows Cribchatter anecdotes are more accurate than statistics from billion dollar auto sales websites.
” foyer ”
I didn’t check the price…this must be a $1m unit, right?
“05 tier 1085sf –”
So, what you are saying is that Sabrina is right, and it is NOT 1000 sf.
“So, what you are saying is that Sabrina is right, and it is NOT 1000 sf.”
Me: “Closer to 1000sf than 1250” – True statement
Sabrina Smolette: “No. It’s closer to 1200 than 1000 square feet.” – False statement
But you validated this one:
“You’re not fitting in two bedrooms at 15×12 and 12×11 with a WIC and dining room space at 1000 square feet.”
So that counts as a win on someone’s scorecard, I’m sure.
“But you validated this one:
“You’re not fitting in two bedrooms at 15×12 and 12×11 with a WIC and dining room space at 1000 square feet.”
The MBr isnt 15X12, so its kind of a moot point, no?
And yes one could fit those into a 1000sf, but thats immaterial to this unit
“The MBr isnt 15X12, so its kind of a moot point, no?”
Of course it is.
But there’s still a “told ya” hiding within it being 1085 rather than 1000.
^not sure where you got that image, but ‘gross *internal* area’ (emphasis added) is not the standard for either realtors or, more importantly architects…
this is such a boring trope… if you add up just the room areas in that image and include the w/d and the 2nd bedroom closet, you arrive at 1054 SF +/- … but we still need to add all of the interior walls (min 4 1/2″, probably more) and columns, half of the wider demising walls (half of which is at least 4″), and the whole of the exterior walls (at least 10″) and the GSF will be much closer to 1200 than it would 1000…
“I didn’t check the price…this must be a $1m unit, right?”
I said they aren’t building with foyers TODAY except in luxury units.
This building was built in 1991. Foyers were, indeed, common in the 1960s, 70s, 80s and 90s. Only during the housing boom did they get rid of them due to cost in many of the quickly built 2/2s. Many units opened directly into the living space or in a hallway. No real foyer.
Tribune Tower, St Regis, One Chicago all have foyers because luxury buyers demand it. But it’s nice to buy an older property at a lower price point which also has it.