East Lake Shore Drive Maisonette Returns Completely Renovated: 189 E LSD in the Gold Coast
This 3-bedroom maisonette in The Mayfair at 189 E. Lake Shore Drive in the Gold Coast (or Streeterville, if you like) came on the market in May 2021.
The Mayfair was built in 1924 and has just 28 units along with a garage.
The building has a doorman and an exercise room, along with storage.
If this unit looks familiar, that’s because we chattered about it in 2013, when it first came on the market listed at $5.999 million.
It ultimately didn’t sell until 2019, finally closing at $2 million.
You can see our 2013 chatter about it here.
Additionally, I STILL haven’t managed to get a picture of The Mayfair, so it’s the shorter building in the picture above which is to the east of the Drake.
The maisonette has come back on the market with a “newly completed renovation” where the listing says no expense was spared.
It has custom millwork, built-ins and huge closets.
If you recall, the unit has some unique features such as skylights and a “private relaxation solarium.”
It is duplex down but the only rooms in the lower level are a family/media room with a full bath and a 140 bottle wine cellar.
All three bedrooms are on the main level and all three are en suite.
The primary bedroom bath is “spa-like” and has heated floors.
The kitchen, a Balthaup kitchen with modern gray cabinets, a Le Cornue range, Gaggenau steam over and Subzero refrigerator/freezer, was actually already in the unit in the 2019 sale but the listing says there are new quartz countertops on the island.
The unit has the features buyers look for like central air, washer/dryer in the unit and 2 parking spaces with a third available for $40,000.
Originally listed for $4.5 million in May 2021, which was 125% above the 2019 sale, it has been reduced $250,000 to $4.25 million.
Will the sellers get the premium?
Nancy Tassone at Jameson Sotheby’s has the listing. See the pictures here.
Unit #1W: 3 bedrooms, 4.5 baths, 5000 square feet, duplex down, maisonette
- Sold in November 1996 for $1.1 million
- Sold in February 2007 for $4.495 million
- Listed in January 2013 for $5.999 million
- Sold in May 2019 for $2 million
- Originally listed in May 2021 for $4.5 million
- Reduced
- Currently listed at $4.25 million
- Assessments are now $3456 a month (they were $3842 a month in April 2013) (includes gas, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal))
- Taxes are now $51,204 (they were $38799 in April 2013)
- Central Air
- Washer/Dryer in the unit
- 2 parking spaces included with a third available for $40,000
- Fireplace
- Bedroom #1: 30×13 (main level)
- Bedroom #2: 11×13 (main level)
- Bedroom #3: 11×15 (main level)
- Family room: 26×19 (main level)
- Dining room: 18×20 (main level)
- Living room: 22×27 (main level)
- Kitchen: 17×21 (main level)
- Atrium: 9×14 (main level)
- Gallery: 10×10 (main level)
- Walk-in-Closet: 11×11
- Walk-in-Closet: 14×12
- Pantry: 10×10
- Pantry: 6×6
- Foyer: 9×18
- Media Room: 15×20 (lower level)
If I’m living on LSD and spending $4MM, I want a “to die for” lake view
Should have a 4th BR/office. The painted/exposed joists look out of place
I as wondering who the poor sap who lost $2.5m on this place was, but I see it’s not material to her.
Same boring finishes you see literally EVERYWHERE even in $750k condos. I guess in the 21st century now, the 20th century is literally of no value, so no point in having anything of historical significance or connection with historical styles. Everyone is addicted to their phone. Who even needs 5,000 sf now?
btw, kitchen is basically the same as when they bought.
“finishes you see literally EVERYWHERE even in $750k condos”
lol
First floor ultimate (probably white) privilege residence right off Michigan Ave. It must have been a pretty uncomfortable place to live during the 2020 looting sprees.
“It must have been a pretty uncomfortable place to live during the 2020 looting sprees.”
Huh?
No one looting down that street.
If that was the case, what were all the single family home owners all over the Gold Coast thinking last summer? They all have first floor windows too.
“Assessments are now $3456 a month (they were $3842 a month in April 2013)”
Curious about why assessments would be 10% lower after 8 years–that seems very atypical. Is this a case like Water Tower where they made a concerted effort to lower the assessments based upon the amount of the building reserve? Or does it reflect an earlier special assessment that’s no longer needed?
“Curious about why assessments would be 10% lower after 8 years–that seems very atypical. Is this a case like Water Tower where they made a concerted effort to lower the assessments based upon the amount of the building reserve? Or does it reflect an earlier special assessment that’s no longer needed?”
I noticed this as well JAH.
You are right. It’s very unusual for assessments to fall. This is a good question.
Ground-level apartment with weird design treatment for $4 million? Not a chance. I didn’t like it in 2013 and I still don’t. And the price has gone down since then, so I guess it wasn’t much of an investment.
“ If that was the case, what were all the single family home owners all over the Gold Coast thinking last summer? They all have first floor windows too.”
Completely different to occupy a space that was actually intended to be retail space just steps from the looting.
“Completely different to occupy a space that was actually intended to be retail space just steps from the looting.”
This maisonnette was supposed to be “retail space” in the 1920s?
No. It wasn’t.
“This maisonnette was supposed to be “retail space” in the 1920s?
No. It wasn’t.”
Uh, it was a hotel lobby area until the 90s:
https://www.chicagotribune.com/news/ct-xpm-1995-04-18-9504180116-story.html
Was The Palm on this side of the lobby, or the other?? I can’t remember that.
“Uh, it was a hotel lobby area until the 90s:”
That’s not “retail.”
This one finally closed for 2.7