“Once in a Lifetime Opportunity”: A 3-Bedroom Penthouse at 199 E. Lake Shore Drive
This 3-bedroom triplex penthouse in The Breakers at 199 E. Lake Shore Drive in the Gold Coast came on the market in April 2020.
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.
The listing says this is a “once in a lifetime opportunity on East Lake Shore Drive.”
This unit has many of its original Marvin Hermann designed details including pocket doors, wood work, moldings, and three fireplaces.
The living room has a coffered ceiling.
There is a library with custom millwork and built-in bookcases.
The listing says there is a private interior elevator on three levels, as well as an interior staircase.
The living room, dining room, kitchen and library are on the main floor.
The kitchen has white cabinets and a banquette.
The primary suite is on the second floor, along with the other two bedrooms. It has a sitting room, 2 walk-in-closets, a spa bath and steam shower and a “breakfast kitchen en suite.”
The third floor has a sun room and a laundry/service room that the listing says can be used for catering of your parties on your private rooftop terrace that has a fountain and outdoor storage area with views of Lake Michigan and Oak Street Beach.
It has the features buyers look for including central air and washer/dryer in the unit along with two parking spaces and 2 storage rooms.
Originally listed in April 2020 for $4.9 million, it has been reduced $1 million to $3.9 million.
Is this a deal for 4232 square feet on East Lake Shore Drive?
Harold Blum and Ivan Petrov at @Properties Christie’s have the listing. See the pictures and floor plan here.
Unit PH 10W: 3 bedrooms, 4 baths, 4232 square feet, triplex penthouse, co-op
- I don’t have a prior sales price because it’s a co-op
- Originally listed in April 2020 for $4.9 million
- Reduced
- Currently listed at $3.9 million
- Assessments of $6423 a month (includes heat, gas, doorman, cable, exercise room, lawn care, scavenger, snow removal)
- Taxes of $53,305
- Central Air
- Washer/dryer in the unit
- 2 parking spaces included
- 2 storage rooms measuring 6×14 and 9×18
- 3 fireplaces
- Bedroom #1: 20×17 (second floor)
- Bedroom #2: 13×13 (second floor)
- Bedroom #3: 14×11 (second floor)
- Living room: 28×21 (main floor)
- Dining room: 21×15 (main floor)
- Kitchen: 16×14 (main floor)
- Family room: 15×14 (main floor)
- Sitting room: 14×9 (second floor)
- Sun room: 15×15 (third floor)
- Laundry room: 13×6 (third floor)
- Terrace: 32×32 (third floor)
I picture the owner of this place puttering around in a velvet robe, smoking a pipe, and carrying a long haired cat. #classy
Terrace is really awesome
The correct interior decorator would make this an elite property, Hopefully the new owner doesnt do anything resembling the rendering
“Taxes of $53,305”
Indicates a value of ~$2.5m.
Building appeals every cycle, and sometimes a second time. Units should be available for purchase at the post-appeal indicated market value.
Just dreaming about what I would do if I could afford this place…
1) Open up the family room to the kitchen
2) Move the laundry to the second floor
3) Convert the laundry room on the third floor to a wet bar/mini-kitchen
I wonder how many of the walls are concrete/plaster Madeline?
If money is no object, anything can be done in a renovation, but I wonder if the building would allow the concrete/plaster to come down? Lots of drilling in doing that. I’m also not sure I’d want to ruin the historic paneling in the family room/library just to expand the kitchen.
This is in the annex portion of the building which was built later.
I love that the terrace level has a bathroom. The terrace rocks.
I also love units have the interior levels even though the staircase takes up square footage. It’s just so cool to live in a high rise and have your own internal staircase.
Here’s a unit in the building that sold in March 2022 for $2.77 million. This is a single level unit that is in the original portion of the building.
https://www.redfin.com/IL/Chicago/199-E-Lake-Shore-Dr-60611/unit-7E/home/177270497
Check out this unit in 219 E LSD down the street.
According to Redfin, it sold in 2018 for $4.3 million and just sold in March 2022 for $2.6 million.
https://www.redfin.com/IL/Chicago/219-E-Lake-Shore-Dr-60611/unit-11CD/home/77305976
but I wonder if the building would allow the concrete/plaster to come down?
If its not structural, why would they care?
“1) Open up the family room to the kitchen”
God no
“Convert the laundry room on the third floor to a wet bar/mini-kitchen”
That seems like a no brainer. Would make the terrace far more usable for both staffed and unstaffed events. All roof deck doghouses should have a half bath and wet bar.
“a unit in the building that sold in March 2022 for $2.77 million”
Tradeoffs between the two units, with the terrace the only really big difference–is the terrace really worth $1m?
“Check out this unit in 219 E LSD”
That unit has had quite the ride:
Aug-99= $1.7m
Sep-02= $2.996m
Jul-17= $1.9m (started at $3.25m or higher)
full reno
Jun-18= $4.3m
Apr-22= $2.6m (estate sale)
“Tradeoffs between the two units, with the terrace the only really big difference–is the terrace really worth $1m?”
Yes. And the levels. It’s nice having the bedrooms on a separate floor.
“If its not structural, why would they care?”
Noise and dirt. I can’t imagine the difficulty of removing a concrete or plaster wall.
“ Noise and dirt. I can’t imagine the difficulty of removing a concrete or plaster wall.”
Demoing a gyp and stud wall isn’t?
Cast concrete is a different beast, but that sort of removal is going to be structural. Clay tile (unless core filled) & plaster aren’t going to be that much if any more difficult
It’s a construction project, there’s going to be noise & dust
I know billionaires like Ken Griffin pay top dollar to be in brand new buildings, but if I had his kind of dough it’s a place like this I’d choose.