5 Fireplaces and a Conservatory in a Pre-War Penthouse: 199 E. Lake Shore Drive
This 5-bedroom penthouse in The Breakers at 199 E. Lake Shore Drive in the Gold Coast came on the market in November 2022.
Built in 1913, The Breakers was designed by Benjamin Marshall in red brick and white-glazed terra-cotta. The listing says it just had a facade restoration (see the picture above).
There are 13 apartments. According to Chicago Apartments: A Century of Lakefront Luxury, the building has two parts, the east part which has single floor apartments, and the west annex which has duplexes.
It was apparently a rental building until 1995 when it was converted into a co-op.
The Breakers has door staff, an exercise room and parking.
Strangely, for such a small building, this is the second chatter we’ve done on the building in the last year, and the other one was also a penthouse that the listing said was a “once in a lifetime opportunity.”
You can see that chatter here.
That unit, #10W, sold on Dec 1, 2022 for $3 million.
This unit is a duplex up and has a 2-story staircase and vaulted ceiling.
It has many of its vintage features including 5 fireplaces, two wood burning and three gas, walnut paneled walls, ornamental ceilings and a unique conservatory with a catering kitchen.
The listing also says it has the original oak and reclaimed marble floors.
One of the wood burning fireplaces is actually in the kitchen which has white cabinets, a big kitchen island with seating, luxury appliances, and a butler’s pantry with 2 warming drawers, and an extra Subzero freezer and ice maker.
The primary bedroom is on the main floor and has a fireplace, built-ins, several walk-in-closets, reading alcove, 2 water closets, a double vanity, walk-in-shower and jacuzzi tub.
It also has a hidden safe and locked jewelry drawers.
The fifth bedroom is also on the main level but the rest are on the second floor where there is also a library, office, sunroom and game room/billards room.
The office has walnut paneling, a powder room and a balcony.
The conservatory is like it’s own little world. From the listing:
“A rare addition is the conservatory with 22′ ceilings and a catering kitchen nearby. It has a separate A/C unit, heated flooring and remote windows surrounding the periphery. This space is totally unique to high rise living as it truly invites the outside in. There is a dining terrace with attached gas grill and seating for six to eight. There is an integrated audio system throughout.”
The unit has central air with 5 HVAC systems and there is garage parking.
While it does have a large outdoor deck, shown in the pictures, the listing says there is the “potential” to build the large rooftop deck.
Listed at $7.99 million, is this the ultimate Chicago penthouse?
Julie Busby and Barbara Steinhauser at Compass have the listing. See the pictures here. Sorry, no floor plan.
Unit #PH-E: 5 bedrooms, 5 baths, 9672 square feet, duplex up
- No prior sales price as it’s a co-op
- Listed in November 2022 for $7.99 million
- Currently still listed at $7.99 million
- Assessments of $12,834 a month (includes heat, gas, parking, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes are $8,556 (#10W was $53,305 and assessments were $6423 a month)
- Central Air
- Washer/dryer in the unit
- Garage parking included
- 5 fireplaces (2 wood burning and 3 gas)
- Conservatory
- Bedroom #1: 27×22 (main floor)
- Bedroom #2: 25×13 (second floor)
- Bedroom #3: 31×13 (second floor)
- Bedroom #4: 18×13 (second floor)
- Bedroom #5: 23×12 (main floor)
- Foyer: 30×15 (main floor)
- Sunroom: 30×28 (second floor)
- Library: 22×16 (second floor)
- Office: 15×11 (second floor)
- Breakfast: 16×15 (main floor)
- Kitchen: 25×14 (main floor)
- Laundry: 12×7 (second floor)
- Dining room: 25×16 (main floor)
- Game room: 25×15 (second floor)
- Sitting room: 31×12 (second floor)
- 2 balconies and unfinished roof top deck
Wow
Pretty spectacular, though $8MM is a big ask
The FP in the kitchen is a head scratcher. Would have been cool if it was a pizza over or allowed for cooking
At $8MM, I would expect more that Maytag
Doesn’t get much better than this if you want to live on LSD, and are filthy rich.
I love it and would buy it in a heartbeat if I had the means.
Chuckling at the cheap ass washer-dryer, though. I guess it’s probably only used by “the help”.
This is exactly what I’d buy if I was wealthy.
Is there anyone who thinks they should just build out the rooftop deck in order to get the sale?
Yes, someone who is wealthy can also do the same. But a brand new deck really takes this to the next level compared to all of the other upper bracket condos out there. Although I can’t believe most can compare to the vintage features in this unit.
I’m also a big fan of staircases in high rise condos. It feels so cool to have essentially a single family home inside of a larger building. Decadent.
“Is there anyone who thinks they should just build out the rooftop deck in order to get the sale?”
I think replacing the dishwasher and W/D would get it done. But first to get qualified buyers in to see the place, they should splurge on a full roll of TP and re-shoot pic 31.
“Is there anyone who thinks they should just build out the rooftop deck in order to get the sale?”
Building it out is going to guarantee the sale?
You’re talking a substantial capital outlay to build out the deck at a level commensurate to the rest of the property.
Also the Adirondack chairs in the conservatory is a bit odd
I honestly don’t think a washer or a “flip job” roof deck is going to be a deal maker or breaker here. It’s 8 freakin million. The assessments and taxes alone put this into completely stratospheric category. Based on my very un-scientific decor analysis, this place looks like its just one of a number of places likely owned by the current occupant. Some of it’s beautiful. Some of it’s outdated. All of it had big bucks thrown at it as some point in time. But IMO a new owner is going to come in here with their own vision. My question is … WHO is this new owner, given the current climate of property in Chicago. Someone with enough capital that they don’t care about it as an investment, really – but rather just “a place” to have in Chicago? A sports star? An Old Chicago-money socialite (given the location/building)? A successful local business owner with grounded ties to the city? I just can’t imagine anyone picks this up, ‘cus it is a project, and doesn’t have plans on sticking around for a LONG time.
Anyone who has $8 million in cash to buy this place and then spend $20,000 a month on HOA/taxes is got to be, well, rich.
It’ll be interesting if it gets bought, and how long it takes.
“My question is … WHO is this new owner, given the current climate of property in Chicago. Someone with enough capital that they don’t care about it as an investment, really – but rather just “a place” to have in Chicago? A sports star? An Old Chicago-money socialite (given the location/building)? A successful local business owner with grounded ties to the city? I just can’t imagine anyone picks this up, ‘cus it is a project, and doesn’t have plans on sticking around for a LONG time.”
Who’s been buying Ken Griffin’s penthouses? 2 of the 4 have now gone under contract.
More properties have sold over $4 million last year than any year in the last 8 years in Chicagoland (including metro area.) But even within Chicago city limits, it was red hot.
Until last year’s stock market sell-off, plenty of CEOs and CFOs of major Chicago corporations were getting very rich off their stock compensation. I’ve said this before, but most of you have no idea the firepower in Chicago with its huge business industry. Heck, the CEO of CBOE currently has stock worth $20 million and that’s after the recent sell-off. He’s just one of dozens. Current CEO of Morningstar has stock worth $25 million. And, again, Morningstar’s stock was down 35% in the last year.
Chicago has a big food and agriculture industry with a lot of “old” companies. The CEO of ADM has a family trust with stock currently worth $64 million. He owns more shares in his own personal account.
And on and on.
Chicago is a global superstar city. We don’t have the firepower with international money buying like Miami, LA, SF or NYC but we DO have the business elite. Then add on sports stars, the wealthy families like the Pritzkers who still live in town and there’s definitely a group of buyers in this price range.
Anything over $5 million is in the upper bracket for our market, however.
“Taxes are $8,556 (#10W was $53,305”
If that isn’t the monthly tax bill, this is just about the most egregious undertaxing that I have seen.
Even if the annual tax bill is $102,672, ti’s still significantly undertaxed.
“cheap ass washer-dryer”
They look like they were top of the American-made line when bought. More botehrsome is that they never flipped the dryer door.
“FP in the kitchen is a head scratcher”
Appears to be set up to actually grill, which I would probably use more than a pizza oven.