Luxury of the 1920s: 3500 N. Lake Shore Drive
If you don’t want to pay nearly $3 million for your “home in the sky,” take a look at the 1920s luxury apartment buildings that line the lake front both on the South Side and as far north as Edgewater.
The 1920s marked the last time “luxury” was springing up all over the city. Several dozen high rises with 2,000 to 4,000 square foot units were built from 1920-1930 until the Depression put a halt to “luxury” building. These buildings were meant to be cutting edge, with working fireplaces, maid quarters, galleys and, in some cases, parking.
One of the buildings built during this period was 3500 N. Lake Shore Drive, otherwise known as the Cornelia Apartments. Built in 1926, at 17 stories, it was designed with 2 and 3 bedroom floorplans, with most including at least one maid’s room.
Today, the building has no parking but it does allow washer/dryers (some of these vintage buildings allow washer/dryers in the unit and some do not.)
You can pay 60% less than either 50 East Chestnut or 1418 N. Lake Shore Drive and still get the same size and luxury amenities.
Unit #8C: 4 bedrooms, 3 baths, 3000 square feet
- Sold in July 1999 for $450,000
- Sold in March 2004 for $910,000
- Currently listed at $950,000
- Assessment of $2,529 a month (doesn’t include property taxes)
- Washer/Dryer in-unit
- Central zoned air conditioning
- Harbor views
- Listing says unit recently renovated
The maid’s rooms can vary in size. There is one room that is 5 x 6 in the listing. I’m assuming that’s probably one of the maid’s rooms. (See picture below.)
Suzanne Gignilliat at Koenig & Strey has the listing.
“The 1920s marked the last time “luxury” was springing up all over the city. Several dozen high rises with 2,000 to 4,000 square foot units were built from 1920-1930 until the Depression put a halt to “luxury” building.”
You know what they say, history repeats itself.
ha! Yes indeed. I just didn’t want to say it myself.
It’s really interesting to read about that period in Chicago real estate. Several projects were never built, some were only partially built and some that were built were foreclosed upon. Most of the luxury buildings were built as apartment buildings- versus the condos of today. The rich building developers/owners went under in the Depression and many of the tenants arranged financing to buy the building from the bank- hence why many became co-op buildings.
off-topic…..but does anyone have a positive (or neg) recommendation for a buyer’s side attorney for a closing?
Thanks. Happy NY.
Non-sequitur: Can you provide an e-mail where people can send you names as I would rather not have names bandied about where other people aren’t that interested.
It will be easier for you to get the info that way (and I’m sure there are people with recommendations.)
Thanks!
Anyone has anything to say about the building itself? I am looking at a couple of apts in that building and curious if anyone has anything positive or negative to say about the building.
Hi Ray,
I am a real estate appraiser and just finished an assignment in this building. It seems to compare well with nearby and competing buildings with regard to finishes and features, management and maintenance fees. I’ve seen several units in this building and they were very nice. 3750 N. LSD has slightly higher fees but has more amenities (pool, some temp parking, etc.).
Hope that helps and good luck.
Donn