The Most Spectacular Roof Top Terrace of All Time? 1500 N. Lake Shore Drive
This 6-bedroom co-op penthouse at 1500 N. Lake Shore Drive in the Gold Coast just came on the market.
Built in 1927, 1500 N. Lake Shore Drive was designed by famed NY architect Rosario Candela, with the listing saying it was his only residential commission in Chicago, and outside of New York.
The building was constructed by McNally & Quinn and has 57 units and heated valet garage parking.
It’s a full service building with a doorman, an on-site property manager and a new state-of-the art exercise room.
This penthouse is designed as an Italianate villa and takes up the entire top floor of the building.
It’s three levels with 8,000 square feet of indoor space and a 5,000 square foot east facing terrace.
The listing says it’s the first time on the market in 50 years.
The unit has direct elevator access.
There’s a 40 foot long walnut-paneled gallery hall with vaulted ceilings finished in a fresco theme.
The living room has the original 20 foot coffered ceilings.
There are hand carved doors throughout.
Surprisingly, there’s just one wood burning fireplace and it’s in the living room.
There’s no picture, or description, of the kitchen.
There’s pictures of just 2 of the 6.5 bathrooms.
But it’s the outdoor space that’s the big selling point.
With a U-shape that faces the Lake, the landscaped terrace boasts a fountain, mature trees, grass and a covered loggia.
According to Dennis Rodkin at Crain’s, this penthouse was a private listing, i.e. not on the MLS, in July of this year at $24.5 million.
It has been reduced to $17 million.
The owner, who has lived in the property since 1975, apparently told the Wall Street Journal over the summer that he’s moving to Florida.
You can see the Crain’s article here.
This penthouse has space pak cooling, radiator heating (which is included in the assessments), washer/dryer in the unit and 2-car valet parking.
Some co-op buildings in the Gold Coast are cash only but after looking at some of the other listings in this building, it appears that the Board will allow up to 50% financing.
This is a unique opportunity to own a rare pre-war property with all the bells and whistles along with a massive terrace.
Will someone get a deal on it?
Mark Icuss and Cheryl Prosperi at Compass have the listing. See the pictures here (no floor plan, unfortunately).
Unit PH: 6 bedrooms, 6.5 baths, 8000 square feet
- Sold in 1975 (per Crain’s)
- Originally listed as a “private listing” in July 2020 for $24.5 million
- Reduced
- Currently listed on the MLS for $17 million
- Co-Op
- Assessments are $8,207 a month (includes heat, water, electric, 2-car valet parking, doorman, exercise room, exterior maintenance, lawn care, scavenger and snow removal)
- Taxes should be included in the monthly assessments
- Space pak cooling
- Washer/dryer in the unit
- 2-car valet garage parking
- 1 wood burning fireplace
- 50% financing allowed?
- Bedroom #1: 22×18 (main floor)
- Bedroom #2: 14×12 (main floor)
- Bedroom #3: 14×19 (main floor)
- Bedroom #4: 17×13 (main floor)
- Bedroom #5: 17×15 (main floor)
- Bedroom #6: 14×16 (no floor listed)
- Living room: 39×22 (main floor)
- Dining room: 25×16 (main floor)
- Kitchen: 22×27 (main floor)
- Office: 11×11 (main floor)
- Gallery: 12×39 (main floor)
- Exercise room: 22×21 (second floor)
- Game room: 13×12 (third level)
- 5000 square foot private terrace








