The 1950s weren’t too bad: 1000 N. Lake Shore Drive
With all the new construction going up around the city, sometimes older buildings get overlooked. The gorgeous vintage buildings of the 1920s have held their own. But anything built between, say, 1932 and 1970 is usually much maligned.
But location still matters and 1000 N. Lake Shore Drive has it in spades.
Located at the end of Michigan Avenue, where Lake Shore Drive, Oak Street and N. Michigan meet, the 23 story building is located right across the street from what many consider to be the best beach in Chicago, Oak Street Beach. World class shopping and dining is only blocks away.
But 1000 N. Lake Shore Drive, built in 1953, doesn’t look like much from the outside. In fact, you’ve probably walked right past it dozens of times without looking up.
The units are big. No 11 x 13 master bedrooms here. Instead, they’re 12 x 18. The building appears to allow in-unit laundry and there is valet rental parking. What’s not to like?
Some of the units are priced at or less than one bedroom condos in the new lake shore drive high rises such as 600 N. Lake Shore Drive. And you get much more space.
Unit #1005: 2 bedrooms, 2.5 baths, 1800 square feet, direct lake view
- Currently listed for $589,000
- Laundry in the unit
- No Central Air (only window units)
- Assessment of $1,292 a month
- Century 21 Sussex & Reilly has the listing
The smallest two bedroom units seem affordable (but don’t have lake views or have only a slice of lake.)
Unit #2201: 2 bedrooms, 2 baths, 1200 square feet
- Currently listed at $334,500
- Assessments of $1038 a month
- No central air (window units)
- No in-unit laundry
- Koenig & Strey has the listing
There are also some interesting units in the building. Currently there is a 4 bedroom, 4 bath combined unit with 2400 square feet and a 700 square foot terrace for $699,000.
John Baer at Coldwell Banker has that listing.
1000 LSD does not allow in unit laundry. Some of the larger combined units were allowed to add it in when removing an extra kitchen/bath etc. The building is also much taller than 23 stories, more like 53.
Well, the original 1000 LSD may be 23 but there is 2 sections to the building
Did they ever fix up the hallways with updated paint and carpet?
Do the assessments include the property taxes? I know many of the buildings on LSD have high taxes but for a 335K unit to spend 1K/month in assessments seems high. Does the building need a lot of work or are they paying off loans from projects that were done not too long ago.
No they do not. It is a condo not a co-op
There are actually TWO buildings there with similar addresses and as far as I know- they are not “related” (different condo boards etc.) You’ll see a post about the second building tomorrow.
I was as confused initially as everyone else.
Thanks Sabrina, it seems you are right! Great location, but very low ceilings, high assessments, valet parking, etc….yuk
Well, at least some units have in unit laundry….unlike the Hancock!
Assessment of $1,292 a month
WOA my rent is cheaper than that. I dont live over there tho…
Unit #1005 is actually a 3 bedroom condo with full size in-unit laundry. The current listing price is $549,000.
“anything built between, say, 1932 and 1970 is usually much maligned.”
Thats because this was the architectural dark ages. This period combines the worst of the maintenance, expense and upkeep of the vintage units along with the crappy design characteristics of some of the more recent ones. Units in the 50s were not designed with any sort of efficiency in mind so I bet the heating/elec bill is high.
Also those lever toilets..they look nice and have great water pressure, but in the winter & spring there are major issues with them in that the parts get stuck from the temperature changes causing a continuous flush until the super shows up.
Window a/c, mega assessments, frat-house toilet that has problems that can’t be fixed by tenant..pass.
Again, I feel the need to correct some of these comments. Unit 1005 has no “frat-house” toilets. All toilets are modern, Toto toilets and are issue free for 5-years.
Window A/C is extremely efficient, and uses far less electricity then Central A/C. It is also possible to actually use the A/C in the month of April, something that is impossible in most high-rises.
Stuart: Most of the “modern” (aka- those built in the last 20 years) high-rises have individually controlled heat and air conditioning.
You can turn on your air conditioning in January if you so desire.
Sabrina: That’s just not true. You may able to “turn on” your A/C, but it will just be blowing plain-old air until the building turns on the compressors.
No- that’s wrong. “Modern” high-rises and even recently converted loft buildings (converted within the last 10 years) have furnaces in the unit. Just like a house.
You can control your heat and air conditioner and turn on your air conditioning any time you see fit. The building has nothing to do with your temperature control.
I agree that *some* of the new buildings have individual controls in the unit. Parkview has units clearly visible on the balconies.
However, of the high rises I’ve seen built during the boom, most had a chiller for the building and fans in the units (i.e. everybody gets heat or AC). It’s actually pretty nice…no furnace or AC to maintain, and you can blast the cold air all summer for $30 a month.
Surprisingly, some big condo buildings are still being built without HVAC systems that provide both heating and cooling at the same time.
Four-pipe HVAC systems have both heating and cooling available all year round. Two-pipe systems can only provide heating or cooling, but not both at the same time – you have to wait for the big switch-over in the spring and fall.
Buyers should try to get a four-pipe system if they can. You have to watch and know what to look for. For example, CMK, brags about “Two-pipe vertical heating and cooling system with individual controls” as an amenity for its 235 VanBuren development. Caveat Emptor!
P.S. Just Curious, wondering what you mean by units on Parkview balconies — Do you mean Parkview West in Streeterville? I’ve not seen anything on their balconies.
I’m fairly certain that 600 N.F. has furnaces in each individual unit.
Maybe it depends on the type of building- if it’s “luxury” or not.
Thanks for the info about four-pipe versus two-pipe systems. Very interesting.
Admittedly, I haven’t seen them up close…On the balconies facing straight East that don’t have a yellow guard rail, there’s a gray metal box about 3x3x3 that looks uncannily like an air conditioner — the same kind of thing you’d find outside a single family home. If they aren’t air conditioners, I’d be dying to know what they really are.
Here’s more than anyone wanted to know about this:
I think there is a range of possibilities:
–Individual furnaces with A/C units – practical for a smaller building – no central HVAC system at all. (I live in a building like this – 5 stories and 17 units)
–Common chiller for AC circulates cold water to all units which have individual furnaces for heat and use piped in cold water for A/C . (Thrush’s 740 Fulton uses this type system – 14 stories and 100+ units)
–Two-pipe HVAC with individual controls in each unit — a common boiler and chiller send hot or cold water through the pipes to each condo unit where the owner can set the temperature, but can only get cooling or heating depending on the season. (CMK is installing this in 235 Van Buren 46 stories and 714 units)
–Four-pipe HVAC with individual controls in each unit – common boiler and chiller send both hot and chilled water through 4 pipes into all units where the owner can set the temperature and cool or heat according to their needs. (I think all the high end new buildings would have this type system – I know that Belgravia’s 600 North Lake Shore and MCL’s Parkview West do – I’d be shocked if 600 N Fairbanks doesn’t have a four-pipe system)
Obviously, the four-pipe system has advantages during the spring and fall when temperatures fluctuate. Also, in a big building the sunny side might need cooling while the shady side needs heat. But it’s more expensive to install and operate.
I think the two-pipe system is cheaper to install and more economical to run, so may save money for the condo association.
I hope this is fairly accurate, I’m not an engineer.
Still checking on this and the very upscale 340 on the Park has a two pipe system for the VAC (ventilation and air conditioning) and the “H” (heating)is “primarily baseboard electric heating on the perimeter”.
Electric baseboard is supposed to be expensive — has anyone heard how the electric bills are in 340 OTP?
All this discussion leads to my original point – Window / Sleeve AC units are very efficient and convenient. My electric bills peak at about $80 in the summer. Not bad for 1800 sqft.
All of your comments made me curiose about 1000 LSD so I went to have a look. Unit 1005 is amazing. Very sleek and sopisticated. I never considered this building because the windows look terrible. They actually put new windows in this unit . Don’t know how, but they did it. Also, the lobby isn’t bad, & the elevators seem new. Am thinking.. Any comments?
I lived in this building in the early ’90s. My wife and I rented a high-floor two bedroom apartment for two years. It was a great building to live in. Location is unbeatable, plus, when you live there you don’t have to look at the heinous exterior! It looks like there are still relatiove “values” in that building and I strongly recommend it.
Speaking of the windows in 1000 Lake Shore Dr. Does anyone know the policy if the windows of the building were to be replaced, would a unit owner who had put new windows in themselves, be obligied to pay toward others’ windows? Anyone know if the windows are to be replaced there?
I’m the previous Property Manager for 1010 and will answer as many questions as I can.
Right now if you change out windows policy is YOU pay for them not Association. They have looked at doing entire building but instead did a reglazing about 5 years ago. The windows you saw that were “new” were actually “Add-On-Glass” windows and are not full replacement windows.
There are not a ton of loans and there is a pretty decent amount in reserves with many updates already done.
Assessments included heat, no taxes, cable, etc.
No in unit laundry- although it has been done much to Association’s chagrin.
Elevators complete mod in about 2004.
Heating is a nightmare- radiant heat in CEILING (not floor) that is very hard to regulate. Talk of putting in a new facade on the exterior of building and adding individual heat/AC elements. Probably a pipe dream.
Will try to check back to see if there are further ?’s
This is an old thread, but I live in this bldg and felt the need to comment. I’m currently renting a 3/2.5 on the 3rd floor. We were super excited to rent here (moving from a 2/2 in the Hancock) because the unit is very spacious, and 3rd floor units on the south side boast walkout patios of ~1200 s.f. The excitement died real fast!
The lobby and elevators are nice enough, but unfortunately this building has serious problems that won’t be corrected anytime soon. First, the management, maintenance and door staff are atrocious. The hallways on residence floors are one step above disgusting and there are constant systemic problems with the heating and plumbing – e.g., the ceiling heat does no good when the floor below us (laundry & storage) is not heated, and leaks in the plumbing stacks result in a constant sewage stench in the bathroom and kitchen. Also, the walls and doors are so thin that no one has any real privacy (we had complaints of a “wild party” when our 4-yr old daughter had two friends over on a Saturday evening, including a threat to call the cops!).
If I owned this unit, I would be paying nearly $1,800/month in assessments (taxes not included) which would get me a third-rate door staff, a standard storage cage, and a spot for my bike – no workout room, no pool, etc. My guess is that the assessments are already so steep that the board is reluctant to approve any improvements or proactive maintenance efforts.
Despite the unbeatable location . . . the unsightly exterior, general state of disrepair, lack of amenities, exorbitant assessments and management apathy all add up to a building with zero “pride of place.” This is truly a depressing building to live in. Don’t buy here!
It sounds just horrible. How can management companies get away with being so bad and still get paid so much?