A Vintage Penthouse with a Private Terrace and Lake Views: 3300 N Lake Shore Drive in Lakeview
This 2-bedroom penthouse in 3300 N. Lake Shore Drive in Lakeview just came on the market.
In an old listing, I have that this building was built in 1920 but the current listing says 1926. Either way, it appears it was built before the Great Depression.
It has 84 units but no parking garage.
This unit is a 17th floor penthouse with lake and harbor views.
It has unique vintage features including walnut hardwood floors throughout with a mahogany and maple wood border in the living room.
There’s a wood paneled living room with a decorative marble fireplace.
Like many vintage units, it has a formal dining room and a foyer.
The listing says there is a private elevator to the foyer.
The unit has an upgraded kitchen with white cabinets, stone counter tops and luxury appliances such as a 6-burner Thermador range/oven, a Bosch dishwasher and a double door cabinet-matching refrigerator.
There’s a breakfast nook off the kitchen.
But the feature which really sells the unit is the private 210 square foot east facing terrace with lake views.
This unit has an in-unit washer/dryer but no central air. There are window air units.
There’s also no parking with the building/unit, although it’s available for rent or to buy in the neighborhood.
Listed at $429,000, which is $11,000 under the 2000 selling price of $440,000, is this a deal?
Keith Estrada at Jameson Sotheby’s has the listing. See the pictures here.
Unit #17C: 2 bedrooms, 2 baths, 1600 square feet
- Sold in May 2000 for $440,000
- Sold in March 2007 for $610,000
- Lis pendens foreclosure filed in July 2009
- Lis pendens foreclosure filed in November 2018
- Currently listed for $429,000
- Assessments of $1276 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes of $8,839
- No central air- window units only
- Washer/dryer in the unit
- No parking
- Decorative fireplace
- Bedroom #1: 11×20
- Bedroom #2: 7×12
- Living room: 15×18
- Dining room: 12×18
- Kitchen: 8×21
- Foyer: 5×15
- Terrace: 7×30
I like this unit. Love the wood paneled walls and the terrace. The Assessments seem reasonable for a two bedroom. Price seems fair. probably will close around $400k. A bargain in my opinion.
Great unit. Love the wood paneling and the terrace sets this place apart. The price and assessments are in line as long as the building has a healthy association.
Is this really a two bedroom or a one bedroom with a den since the second bedroom is 7 x 12. No picture of the second bedroom too.
That said, I like this unit and think it would be a great property for a well-to-do retiree.
A beauty. “bargain” – – I dunno. definitely approaching bargain status.
It seems like a good deal though. LOVE the terrace. Love the finishes.
Beautiful unit in one of my favorite buildings. Not sure why it’s so cheap. Maybe because it’s really more of a 1 BR plus den than a 2 BR. I think the lack of central AC is another issue, but I do believe space pack can be installed because other units in the building have that.
“Beautiful unit in one of my favorite buildings.”
Dan #2: why is it one of your favorite buildings? I know you are a fan of the vintage beauties (as am I) so I’m just wondering why this one stands out.
Is it the layouts? That it still has many of its vintage finishes? The smaller size of the building? Location? Maintenance of the building?
The east facing terrace on this unit is fantastic, as is the wood paneled living room.
Nothing is getting built today that is even close to this. Not even the Tribune conversion will be as cool as the vintage features in this unit.
Why is it one of my favorites? I’ve seen some units inside and really liked them. The building is beautiful on the outside, and the lobby is also classy. I like how many units have their own elevator lobbies, and the layouts that seem more spacious than the square footage might indicate.
It’s about the right size of a building, too, but that’s subjective. I once lived in a high rise with 400 units and liked living there, too.
The lack of parking is a drawback, of course. So is the lack of an exercise room.
But this penthouse is fantastic. All I could ask for is central air and a bigger second BR. It also might be a bit too luxurious for a weekend place, as we envision having.
I’d also like to see a floor plan. Does the unit have any windows not looking east?
OK – found the PH floor plan. Link below. Looks like it originally had a bedroom, a library and two maids rooms. That would work out to 3 BR, not two. Wonder what’s been done to change it.
http://www.dreamtown.com/buildings/3300-N-lake-shore-drive.html
Lis pendens foreclosure filed in July 2009
Lis pendens foreclosure filed in November 2018
Does this mean that this place has been in foreclosure for 10 years?
“Does this mean that this place has been in foreclosure for 10 years?”
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Nope. Been in two different foreclosures. Look at the notices and you’ll see two different case numbers.
@Dan #2 – it’s not the PH K or L tier, it’s the C tier, but on the top level. Notice how the kitchen has that triangular shape and the MBR has the window next to the bathroom door, matches the C floor plan.
So this is a new listing, no history of it being listed before. When did they take those pictures from the terrace? I know it was cold around Veteran’s Day, but the harbor didn’t get that icy already, did it?
This place is an absolute GIFT at this price. I’m frankly surprised it isn’t listed quite a bit higher, and I’d be very surprised if it weren’t already under contract. I wish I could stretch myself to buy it.
That building is one of the best deals on the drive as it is. It is beautiful, well-located, and comfortable, with huge rooms and a pretty lobby, and the HOA is very reasonable for a high rise building, at about 75 cents a square foot. You don’t get a doorman, but the place is well-maintained and well-serviced.
Beautiful place for sure but something fishy is going on here with the price. It was purchased for 610k and is in the process of being foreclosed upon.
I suspect that this is the first volley of a short sale gambit. Owner needs to get it under contract at any price in order to get the bank’s attention. Then the bank figures out an acceptable number and it comes back at a higher price later as an official short sale.
Lovely unit indeed; however it only yields ~3.5 cap rate due to high HOAs. Doesn’t it make more sense to just rent space like that at $3,300-$3,400 instead? Seems to nice for an in-town and a young couple may require a better return on the rental once they move to a house. Empty nesters?
Bsz16, I don’t believe 3300 N Lake Shore even permits rentals. Many condominium associations don’t.
3300 does permit you to rent out your condo, but only for two years, I’m told (we looked at some units there last year and that’s what the agent said).
Lara,
It’s also one of my favorite buildings. I grew up around the corner and we’re looking at it closely as we decide on where to go once our nest empties in two years.
Lack of a doorman doesn’t bother me, and parking is available nearby. Also nice there’s W/D in units and pets allowed. The one thing bothering me is lack of an exercise room. The lobby is huge. Seems like they could find one place to put some bikes and treadmills. Most vintage buildings seem to have that now.