The 1960s Lake Shore Drive Highrise: 3600 N. Lake Shore Drive
There are a bunch of 1960s and 1970s high rises that line Lake Shore Drive on the north side of the city.
This 2-building complex at 3600 N. Lake Shore Drive is one of them. Built in 1960, it has 640 units.
It’s one of those full-amenity buildings with door staff, exercise room and even a hair salon.
One of the cheapest 1-bedroom units in the building, Unit #618, has been on the market since January 2009.
It appears to have some views of Lake Shore Drive and the lake. The listing says it has new carpet in the living room and bedroom.
The unit is also listed for under the 2002 purchase price.
Is this condo a good starter home for a first-time buyer with the $8,000 tax credit?
James Adinamis at JDA Realty has the listing. See the pictures here.
Unit #618: 1 bedroom, 1 bath, no square footage listed
- Sold in June 1993 for $52,000
- Sold in September 2002 for $162,000
- Originally listed in January 2009 for $159,900
- Currently listed for $159,900
- Assessments of $463 a month
- Parking is leased for $125-$130 a month
- Taxes of $2237
- No central air
- No in-unit washer/dryer
- Bedroom: 16×12
- Living room: 18×16
- Kitchen: 10×8
I’m not sure if this is a good price or not. Without the ability to own parking, without in unit laundry, high assessments, etc, not sure if this is reasonable…
I just saw a 1/1 in 1000 Lake Shore Drive for $119,000. I prefer that location over Lakeview.
Given current market conditions and the economic backdrop, I think its safe to say the era of the ‘starter home’ is over. There’s going to be a lot less people ‘trading up’ houses than thought they were going to.
This one doesn’t make much sense unless someone is going to use it as a rental investment. If you are able to put 20% the monthly note is not much more than the assessments, and you won’t be getting much of a tax break from your interest payments. Anyone who could only afford something like this is better off renting somewhere else.
I know for a fact that this building’s assoc has restrictions on the number of rentals so it won’t make sense as a rental prop unless you intend to use some of your rental income to bribe the condo board.
A number of people bought in this building during the last few years, and paid a premium over renting similar units up and down LSD, with the expectation of appreciation and profit!
Now they’re all underwater. Guess the buy…hold…flip…profit! strategy for 20 somethings didn’t work.
Possibly the most egregious use of abbreviations and number-for-word substitutions I’ve seen in a while. Even immaculate got dinged an m. Something is wrong with your descriptive ability if MLS text limits are getting in the way of describing a basic 1/1 in a ’60s high rise.
“I just saw a 1/1 in 1000 Lake Shore Drive for $119,000. I prefer that location over Lakeview.”
Where did you see this? I’m intrigued. Also, I think assessments at 1000 LSD are ridiculous.
“Possibly the most egregious use of abbreviations and number-for-word substitutions I’ve seen in a while.”
Didn’t you know in order to get your real estate license you have to pass a course called ‘Text message chat 101’
At $155k (see the listing), it’s still a 7%/year increase from the ’93 price. $162 7 years ago was crazy.
I am surprised that nobody commented on the kitchen.
Sonies, in my txt msging 101 class “CRPTNG” stood for crap-taking.
hahaha, yeah pretty much describes anyone that buys this TLT.
Bluestreak, honestly, I like the kitchen. I might make some strategic upgrades but from the picture it seems like it might be reasonably true to the vintage of the building. If you can’t learn to love a tight kitchen that screams high rise living, a 1/1 in this building might not be for you!
The oven is old and you might want to replace it, but it probably works OK. The cabinets look like original GE brand metal ones, nothing fancy but very authentically mid-century mod. Unrehabbed unites in Marina City and elsewhere have these… way cooler/funkier than cherry IMO.
North view is nice here, even on this low floor. Construction had been planned between New York and the drive, but less likely now.
“Construction had been planned between New York and the drive, but less likely now.”
What had Invsco gotten a permit for? I know that the original plan (when the NY was built in 89 or wahtever) was for a 2d tower of approximately the same height. I also know that that was dinged by the city (thru whatever dept). Had they submitted a new plan that got approval?
hey if i was 21 i would love this place, nice view, good size humpping room, the kitchen is nice. And i prefer old appliances cause i would always hear the saying “they dont make them like they used to”. i find that so true, i have a gas stove in my house that is older than me, i restored the clock on it and found some original knobs for it and cleaned it so it looks new. It has been the best one i have ever had.
@tfo–dunno any details, not in the biz, just have a buddy who lives in this building and had the impression that during the late construction boom there had been new talk of another building. I’d say in the long term it is inevitable; but of course not happening in the short term.
707 is available for $5K less. That listing says no dogs though while this one says pets are fine.
Thought for a second this might be a good out-of-towner condo, but not at 3600 North.
Nothing like high-rise living on the sixth floor. No thanks.
If the view confuses you can always gaze at your kitchenette.
“Nothing like high-rise living on the sixth floor. No thanks.”
At least if theres an inferno theres a good chance you and your family will get out intact.
this is a steal. let’s all look back at this one in 5 years. the DOW is surging today..
“Bluestreak, honestly, I like the kitchen. I might make some strategic upgrades but from the picture it seems like it might be reasonably true to the vintage of the building. If you can’t learn to love a tight kitchen that screams high rise living, a 1/1 in this building might not be for you!”
Good point Chris. At least it isn’t avocado colored.
Jon:
An out-of-towner Cubs fan, perhaps? This is within drunken stumbling distance of Wrigley Field, after all.
Assessments seem prohibitively high to me though. But, of course, doormen & elevators don’t come cheap.
Actually, the kitchen is the second-best thing about this otherwise bland and sterile apt. I like the nice galley layout, and it’s wired for an electric range. Most much larger kitchens don’t have a bit more workspace or cabinet space than this kitchen- they only have more floor to mop. You need counter space and vertical storage- not three acres of floor to mop and to add steps to cleaning and cooking.
The views are nice.
Otherwise, the place is bleh- low ceilings, mingy windows, bland, sterile. A nice place for a single person or retiree, though.
But the price is right. I have also saved a 4 room one bed at 3520 and it’s NOT a ground floor unit, listed at $159K, and better yet, a unit at 2000 Lincoln Park West for less than $200K. We are getting down to reasonable prices here.
“a unit at 2000 Lincoln Park West for less than $200K.”
Uhh best to check the assessments on that one. Assessments at that building are redonkulous.
“At least if theres an inferno theres a good chance you and your family will get out intact.”
I hope you have a small family if you’re thinking this is a good place for that…
Uh…. speaking of infernos, I am now remembering something else about 3600 LSD.
This may not be the best building to have a fire in. I have real doubts about a fire that occurred here in early 1994, which tore through 11 apartments on one floor and killed 2 people.
I don’t see how this happened. Most buildings built since 1900 (109 years ago!) are well constructed enough, with solid-enough firewalls between units, to prevent the spread of a fire. Fires almost never spread in most buildings unless there is arson involved, and there was no arson in the case of the fire at 3600.
Gives me real doubts about the quality of construction in this building.
Incidentally avocado was one of the colors I would have considered…
A coworker rented in this very tier on a higher floor in the mid-late 1990s. As I recall the unit was quite generous space wise – especially the bedroom as another poster pointed out. That said, they were then selling for the upper 110s or thereabouts. It’s probably best to wait in this case as one needs to allow for the lack of certain amenities and the higher assessments.
Almost $500 for assesments for a small one bedroom. Did I read correctly that there are 640 units in the building? Are the doormen making $500K per year? Is the board taking salaries? How many rooftop pools are they funding? Where in the world is all of that money going? I lived around the corner on Pine Grove 10 years ago and our assesments were a fraction of this place.
Regarding the comment “I have real doubts about a fire that occurred here in early 1994, which tore through 11 apartments on one floor and killed 2 people.”
This did not occur at 3600 N. Lake Shore Drive. The person must be thinking of another building.
I know this posting is two years old, but for the record, I LIVED on the floor in question in 1994…(28th North Tower)..NOBODY DIED and the fire did not “tear through” apartments….The roofdeck caught fire on a 100 degree day in June. And yes, even in 1994 the assessments were ABSURD, I can not even begin to think what they are today!
Based on what I’ve heard from current owners things haven’t changed much since I moved. I lived at 3600 about 10 years ago (lived there for about 13yrs). Within the first few months of moving in (while out of town) my unit was robbed by a guy working the front desk (several units were robbed). Before moving out everything in my storage locker was gone…most likey by employees from the building who knew I was moving out. Every year there was a special assessment. I wouldn’t recommend the building to anyone. hrr
i lived in this building for 8 years. first off there was no fire that killed 2 people. secondly the assessments are out of control and something very fishy is going on with the board. there were special assessments on top of special assessments – they never stopped asking for more money. you were paying 200 to 250 more a month in specials ON TOP of your regular assessment.