Rare Single Family Home on Lake Shore Drive Still Available: 1258 N. Lake Shore Drive
The listing says that 1258 N. Lake Shore Drive in the Gold Coast is one of only 4 single family homes that still exist on Lake Shore Drive.
The house was built in 1895 and received a City of Chicago landmark designation in 1989.
It has four fireplaces and a huge rooftop terrace overlooking the lake.
It has also been reduced $900,000 since we last chattered about it in July 2008.
See our prior chatter and pictures here.
Mary Prendergast at Mary Prendergast Real Estate has the listing. See the pictures here (including one of the rooftop deck.)
1258 N. Lake Shore Drive: 4 bedrooms, 5.5 baths, no square footage given, 4 floors
- I couldn’t find a prior sales price
- Was listed in July 2008 for $5.8 million
- Reduced in November 2008 to $4.9 million
- Currently still listed at $4.9 million
- Taxes of $16,992
- Central Air
- One parking spot in the rear of the house
Such a beautiful home and appears to be well-kepted. Perhaps street noise is an issue requiring some window sound-proofing. Landmark staus may help with the taxes. The price is certainly reasonable but the market is limited in Chicago (clearly a cookie-cutter loft town). Perhaps a family re-locating from the East would appreciate the bargin.
Yes, please.
Great roof deck…if you’re deaf.
Everything else about this place utterly *sucks*.
If I could, I would…
Spend the same and get about the same on Astor or State or Dearborn, as someone said during the previous chatter.
It is common knowledge to ‘declutter’ your property to showcase it’s assets for buyers. This is a classic example of totally disregarding that required practice.
Looking at the pictures, and I am sure touring the place in person, one would be hard pressed to see why this beautiful and rare home commands such a high asking price. I just hope this major disregard of staging does not force a further price reduction to move it.
That said, I would love to be the new owner of this house as it is one that would always retain it’s value… if properly maintained.
i would guess the person that lives here is about the same age as the house. i can almost smell the mothballs.
Blech, looks like my grandmother’s living room multiplied and had ugly babies and the babies threw up all over this house! This is vintage clutter not style.
And living on LSD isn’t that great, but that rooftop deck is pretty cool I guess. Not that I ever have to worry about buying this place, 5 million is crazy money for a home.
When I see that kitchen I don’t think $5MM house. Given the current state of the market nobody is going to pay $5MM for a townhouse.
Bob, there’s a frickin sofa in the kitchen, that is SUPER LUXURY BABY!!! You can take a nap while you wait for your water to boil. Awesome!
Only one parking spot? People who spend this amount of money expect 8 parking spots.
If that is seriously the only kitchen, that’s ridiculous. It would be a bad kitchen in a $250k condo.
People who buy these types of homes could careless about the decorating. They usually will gut it anyway so it can be customized to their liking.
Being in a house on LSD probably isn’t a selling point. However, $5 mill won’t get a house like this on Astor.
“However, $5 mill won’t get a house like this on Astor.”
You’re absolutely right–it would get you something much nicer.
See 1248 N Astor. 29′ wide lot, 2.5 car garage, 6BR/6.5Ba. 7500 SF. Dated but usable kitchen. Neutral interior. Elevator.
Price: $4.95mm. Taxes are higher, tho.
Anon (tfo): I stand corrected! I guess the top end on Astor has come down quite a bit. If a buyer had a choice, I can’t see this LSD house going for that much when better houses on a more exclusive street are available. But who knows…
Check out the Master BR pics on the vht for 1248 Astor:
http://tours5.vht.com/Viewer/PhotoGallery.aspx?ListingID=1199552&Style=IDX
That’s a house where I can understand the asking price. I’d want a credit to update the kitchen, but even as-is looks completely functional as a family or entertaining (i.e., caterer-operated) kitchen. I wouldn’t fell the *need* to change anything else (It’s a little blah, but blah=livable), except maybe the 3d bedroom wallpaper (which I know is v. nice/expensive, but I don’t like).
anon (tfo): wow, ok never mind on the LSD place, I’m all in for the Astor place.
Wow that Astor home blows the doors off of this place!
How much is the lake view from the Lakeshore Drive house worth?
Though you’d definitely have to cut the price by however much it would cost to completely re-do the kitchen.
“How much is the lake view from the Lakeshore Drive house worth?”
If the Astor place–with ~50% more SF, a lot twice as wide, garage, etc.–is “worth” the same amount, I’d say they are pricing the view at ~$2mm. I’m not interested in paying that much, even if I had the money.
I want to spend $2mm just for a lake view, I’m buying ON the lake in the north shore, not across an 8-lane highway, plus a 4-lane bus route, from a concrete beach.
I like the place, a lot. It has unique architectural detail that’s sure to attract someone. Admittedly it needs work, but a lot of places do.
Is the location be a big drawback? I dunno. I’d definitely consider the place if I had that type of coin. Yep, Astor is a nice street, real nice. However, I see a ton of potential with this joint.
Is that actually a (the kitchen I mean) kitchen or just like a secondary one up at the roof deck or something?
“Is that actually a (the kitchen I mean) kitchen or just like a secondary one up at the roof deck or something?”
I had the same thought. And it may be. BUT–there is not other pic of a kitchen, and the listing says the kitchen is 8×15.
If there is another kitchen, imagine what it must look like compared to the pic shown.
This is terribly overpriced and won’t sell anywhere near 5 million. I see this getting pulled off the market soon (due to lack of interest) or dropping below 4 million.
the astor place needs a lot of work – the LSD place is way overcluttered – looks like the rich old folks who live(d) there haven’t gotten rid of anything in a coupla decades. But, if you look closely, you can see details that are awesome. The stained glass above the windows in the living room, the balconies. It’s been upgraded with an elevator, if that’s your thing. The bar looks awesome. I think I see 2 taps for beer kegs.
OTOH, the astor house looks really cheaply done. Especially that kitchen and the “library” – what, no bookshelves? In a library?
Sorry, I’ll take the LSD property over the astor without much thought. Of course, I don’t have $5 million.
But if I did, I don’t think that a lack of multiple parking spots or a small kitchen would be that big an issue. If you can afford a $5 million mansion, you can probably afford a domestic type person to do your cooking and cleaning. And you can probably afford to buy or rent a parking spot in a nearby building (or just have a car and driver on standby).
Ahhh…to be filthy rich…
“The bar looks awesome. I think I see 2 taps for beer kegs.”
“the astor house looks really cheaply done.”
You laud a beadboard bar, stuck in front of a closet, on linoleum (?) and say the *other* place is cheaply done? Seriously?
@ jerry 101
LOL WUT?
With two of these:
http://www.abt.com/product/24478/Danby-DKC645BLS.html
and about $400 of lumber/stain/screws, you, too, could have that bar & two beer taps.
I had a kegorator in college, it was awesome!
One of the few qualitative reasons that might get me over to the ownership side from renting one day is an under counter kegerator.
That and mounting my flatscreen TV on the wall. Those are about the only advantages of home ownership I can think of at the present time.
Just please don’t mount that flatscreen over the fireplace. What a terrible idea.
For a long time the Polish Consulate used to be in one of those houses, but they moved recently. I suppose that for something like a rep office this location could be good, though.
Well, Jerry, I’d venture that would explain the decor.
Uh, no.
chasing down the market
last week it was at 3.9 now its 3mil
HOLY SHIT!! Thanks Groove – I want this one……
HOLY SHIT!! Thanks Groove – I want this one……
i think we all want this one?
“i think we all want this one?”
Yeah, but thanks to real estate investments, I can actually afford it!!!!
“Yeah, but thanks to real estate investments, I can actually afford it!!!!”
how? your long in depreciating assets that if you do unload them you will actually have to realize your loss on each of them.
Don’t forget that no bank will risk a mortgage on him, either.
It’s called a margin loan….
“Don’t forget that no bank will risk a mortgage on him, either”
yep i dont think seller financing will work as IIRC this is an estate sale. no seller to finance it 😉
Who owned this house in the 1960’s – 1980’s?