Streeterville 3-Bedroom with Views of the Lake and City for $575,000: 474 N. Lake Shore Drive
This 3-bedroom in 474 N. Lake Shore Drive in Streeterville came on the market in October 2025.
Built in 1991, 474 N. Lake Shore Drive was a luxury apartment building which was converted to condos during the housing boom in 2005-2006.
It has 502 units and an attached parking garage with deeded parking.
It’s a full amenity building with door staff, an exercise room, a community room which was recently renovated, an indoor lap pool, and a 16th floor sundeck which the listing says has recently been redone with grills, a pergola and outdoor furniture.
This is a Southwest corner unit with views of Lake Michigan, the Chicago River and the City.
It has “light colored” hardwood floors in the main living area and carpet in the 3 bedrooms.
The kitchen is open to the living/dining room and has “light colored” cabinetry, granite counter tops and stainless steel appliances.
The primary bedroom is en suite with a walk-in closet.
The unit has the features buyers look for including central air, a new side-by-side washer/dryer in the hallway behind a barn door, and deeded garage parking is available for $35,000 extra.
This building is near Navy Pier and on the Ogden Slip. It’s surrounded by shops and restaurants, and near the Target and AMC Theater at River East. There are buses nearby.
I had to take a new picture of this building due to the new high rise going up in the old Spire location which can be seen out the window in some of the pictures of this unit.
474 N. Lake Shore Drive used to be among the tallest buildings in this neighborhood. But now it has a new neighbor.
Listed at $575,000 plus $35,000 for parking, or $610,000, in October 2025, it remains at that price.
20% down with the parking is $122,000. At a 30-year fixed at 6.2%, Redfin tells me that’s a monthly payment of $6041 a month including insurance and HOA.
The new high rise will be luxury apartments. It’s doubtful you’ll be able to get a 1600 square foot 3-bedroom for $6041 a month. More likely the price point will be $8,000+.
But it will be all new, with upgraded finishes and similar views.
Is the rental building the competition for this unit?
Gail Spreen at Jameson Sotheby’s has the listing. See the pictures and floor plan here.
Unit #5008: 3 bedrooms, 2.5 baths, 1600 square feet
- Converted to condos in 2005
- First sales appears to be October 2012 for $542,000
- Originally listed in October 2025 for $575,000
- Currently still listed at $575,000
- Assessments of $1670 a month (includes heat, a/c, doorman, cable, exercise room, pool, Internet)
- Taxes of $11,035
- Central Air
- Side-by-side washer/dryer in the unit
- Parking is $35,000 extra
- Bedroom #1: 12×12
- Bedroom #2: 12×14
- Bedroom #3: 12×11
- Living room: 19×16
- Dining room: 9×14
- Kitchen: 8×13
I feel like this new building is really going to impact resale values in 474. It’s major selling point was the views but the new building will have the same views.
Isn’t there a second tower that’s going to be built as well?
Owners are going to have to update these units to current market standards. New kitchens and baths. New wide plank flooring.
Also lower HOA psf than Marina City with a ton more included.