The Coolest 12-Car Garage Just Came On The Market In Streeterville: 505 N. Lake Shore Drive
This 1-bedroom on the 67th floor of Lake Point Tower at 505 N. Lake Shore Drive might not seem particularly interesting at first glance until you take a look at the pictures of the 12-car garage that comes with it.
Yes- you read that right.
A 12 car garage.
The condo is 2537 square feet with south and east views.
Everything is white, including the white carpet, the white tiles in the kitchen and bathrooms, the white kitchen cabinets and appliances and the white bathrooms.
The listing says this unit was once a 2-bedroom but has been converted into a big 1-bedroom.
It has wall air conditioning and in-unit washer/dryer.
But the thing that sets it apart is the 12-car parking.
This is a garage built for a collector with a red painted concrete floor and yellow painted concrete ceiling.
The pictures in the listing show an entertaining area including a flat panel television and a bar. Although I couldn’t find any indication in the listing that there is water to the garage (or a rest room.)
The listing DOES say it has separate heat, air conditioning, air handling and security.
There is also a separate assessment and taxes.
You can buy the condo and the garage together for $3.4 million or the garage separately for $2.1 million.
Is this a once-in-a-lifetime opportunity for a buyer with a car collection?
Katherine Malkin at Baird & Warner has both listings. You can see all the pictures, including the garage, here.
You can also see the listing (but no pictures) of the garage here.
Unit #6705: 1 bedroom, 2 baths, 2537 square feet including 12 car parking garage with 2714 square feet
- Sold the condo in October 1990 for $432,000
- Sold the parking in October 1996 for $31,000 (not sure there aren’t more pins involved here or what)
- Currently listed together for $3.4 million
- OR you can buy the garage alone for $2.1 million
- Assessments on the condo are $2453 a month (includes pool, doorman, cleaners, restaurant)- not sure if this amount also includes the garage assessments or not
- Taxes are $14,228
- Assessments on the parking are $812 a month
- Taxes are $3236
- Wall unit air conditioning
- In-unit washer/dryer
- Bedroom #1: 23×29
This is just hilarious. There are even red leather sofas in the garage. Are they included?
How about the cars? Any cars included? You should get at least one thrown in for that price.
Nice enough apartment, though a lot of people don’t want all that glass brick anymore and for $1.2M, it could be bigger. Seems like a very steep price for appx. 1200 sq ft, which is what you have left when you deduct the garage. But I think the glass gives the place its particular character.
What level is the garage on?
Personally I am a fan of the glass block. If I could afford this place, I would DEFINITELY need to get a Ferrari paint job on the Segway.
Garage is great…
question,
how much would buying two space in the building and renting 3 spots in the area cost?
That’s one expensive man cave. I do like the red epoxy floor.
Um one of those cars is probably worth mroe than 2 million, so yeah would be a great deal if he threw in one of them.
This is very bizarre (but cool) and I had no idea something like this would even exist in the city. I understand it would be better in a secure building like this since there is someone to watch it 24/7 rather than in the middle of nowhere in the burbs, but still seems like a tremendous waste of money, good luck to the seller
Definitely needs a rest room in that garage. Who can hold it for 60-odd floors if the urge hits you as you’re replacing the fan belt on the ’73 Maverick?
Wow – This is even WAY too over the top and obnoxious for Clio!!
“Nice enough apartment, though a lot of people don’t want all that glass brick anymore and for $1.2M, it could be bigger. Seems like a very steep price for appx. 1200 sq ft, which is what you have left when you deduct the garage.”
No- you are reading it wrong.
The apartment is 2537 square feet. The garage is 2714 square feet. (Think about it. Are you fitting 12 cars in 1200 square feet???)
It is over 5000 square feet combined.
Lesko – you could fit at least 70 segways in that garage!
The $1.3m condo has a $14,228 tax bill but the $2.1m garage has a $3,237 bill? That would be a tough reassessment to swallow!
This is definitely one of the best posts on the Crib. Last one this good that I can remember was the pimped out townhouse in Chinatown…
Wow, pretty awesome. I expect that the garage has a bathroom, you can’t include every last detail about luxury properties in the listings. Not a lot of buyers for this one but I expect that this is not a distressed sale and the price and assessments actually seem relatively reasonable. Car pictures are tough to see but Looks like mostly older Ferraris that I can’t identify but I think that I spot a Spyder and Cobra. The cars are probably easily worth as much as the listing. Not that liquid but folks like this don’t need to be highly liquid. Those cars don’t look like they get driven that much, though. For me I’d rather have a garage mahal down at Autobahn and actually put cars around a track pretty often, but different strokes for different folks.
There are some pretty wack units and people at Lake Point Tower. I used to know some girls who were paid like $500 a month by Sammy Sosa to have a satellite dish mounted IN their apartment and run a cable under the carpet across the hall so that he could get satellite TV in a non-South facing unit.
Being on the 67th floor sounds awesome, but I’d rather be on the NE side of this building.
I can think of much better cars for that garage than a ’73 Maverick.
My list would include:
’70 Mustang convertible
’48 Chrysler Town & Country (one of the famous “woodies”)
’67 Cadillac Eldorado
’72 Datsun 240 Z
’11 Mustang GT (I already own it)
’57 Chevy Bel Aire convertible
’61 T-Bird
’13 Audi R5
’90 Mazda Miata
Some others as well – I have to give it a little more thought.
My feeling is that this owner is just testing the water. This person is obviously so obnoxiously wealthy that if he/she really wants to sell, they should significantly lower the price.
Oops – I meant an Audi A5
What’s the attendance area elementary school for this place?
“Oops – I meant an Audi A5”
Why not the S or the RS?
Ogden. Did ogden use to be guaranteed admission for HS? I thought so but now seems to be some kinda weird pref factor for ogden elem attendance area kids.
“What’s the attendance area elementary school for this place?”
It’s Ogden, and the HS is (sonies favorite) Wells.
“70 Mustang convertible
’48 Chrysler Town & Country (one of the famous “woodies”)
’67 Cadillac Eldorado
’72 Datsun 240 Z
’11 Mustang GT (I already own it)
’57 Chevy Bel Aire convertible
’61 T-Bird
’13 Audi R5
’90 Mazda Miata
Some others as well – I have to give it a little more thought.”
please do!!
as thats a sad dream list. the first one had the worst chassis they every built. the newest version of the “miata” looks just like the original and is light years better to drive. and really an A or r5? and even if you own the ’11 gt it would be a disgrace to put into that garage unless its the boss, bullit, or roush stage whatever.
so again more thought before you post crap like that
I’d go see this listing just to check out the cars. Always dreamed of having a garage like that. I’d have an old school v12 Jag Xke, silver MB Gullwing with red seats, Ferrari 458, Porsche Carrera GT, and a BMW z8. Topped off with an Icon Bronco
Calling Doctor Detroit…
This really should be two separate listings. You are looking for a VERY specific buyer for the garage space, and a VERY specific buyer for the Condo unit itself, so it would be even more unlikely to have that be the same person (and it’s not clear that the Condo is for sale w/o the garage?! only clear that the Garage is for sale w/o the Condo!)
For the Garage, how much do individual spaces go for in this building? Perhaps $80 K each. So you’re paying an extra $1.1 MM or so for the fact that your cars are parked in a special area & that you have the entertaining space there. To someone with a $10 MM + car collection (and I’m sure there are a few in the area), perhaps they’ll bite, but my guess is that even those w/ megabucks would realize it’s somewhat of a white elephant and try to get it for $1.5MM or less.
For the Condo, a somewhat larger unit, one floor up and with a more traditional 3 BR’s sold in 2011 for $1.1MM or so $1.3 MM seems a little high given how taste-specific a 2500 Sq. ft. 1 BR unit is. Perhaps it will see for a little over $1 MM to someone who really likes the style or who is willing to put some time/money into making it work for their lifestyle.
Does Jerry Seinfeld need a Chicago crash pad?
Doing some digging, according to this 1986 Trib article:
http://articles.chicagotribune.com/1986-10-05/features/8603160787_1_cars-alloy-art-collection
“So you’re paying an extra $1.1 MM or so for the fact that your cars are parked in a special area & that you have the entertaining space there.”
And there has to be some premium for 12 contiguous spaces, even without the rest of it. Hell, I’d expect to pay a premium over ther normal per-spot price for four adjoining assigned spaces, wouldn’t you? Or was your $80k/spot already building that in?
68 Mustang Eleanor
65 GTO
68 Hemi Challenger
Ferrari 456M GT 4-door
2011 Range Rover Autobiography
2006 Mercedes CL 65
BMW Z8
Lambo Aventador
Ferrari 458 Italia
911 Turbo
2003 Audi RS6
Shelby Cobra
there, now I have 12 cars for my garage
“It’s Ogden, and the HS is (sonies favorite) Wells.”
Actually the HS for this area is now “Ogden International whatever school”
My husband had a BMW Z8, he said it was one of the worst sports cars he ever owned.
Why? don’t ask me 🙂
I can’t fully tell from the pictures, but if that round glass block thingie is the shower I’d buy the unit for that alone.
“Actually the HS for this area is now “Ogden International whatever school””
Not according to CPS.
It’s all IB (Bob’s favorite), so there are test score minimums for attendance. Not especially high minimums, but minimums. May be some preference for Ogden ES kids, but it’s not an auto admit.
Why the questions about schools? Wouldn’t anybody who could afford this have their kids in Latin or Parker?
Considering how strict, paranoid and anal HOAs are when it comes to any form of facelift in a unit, I am curious how this owner got the HOA to approve building a personal garage. I really like the unit bc it’s different from all the other lackluster 7 figure McCondos. As long as you don’t step outside, you would think you’re in MIA with that decor.
I am pretty indifferent about the cars and fancy indoor car port – sorry, I’m a girl 🙁
“Wouldn’t anybody who could afford this have their kids in Latin or Parker?”
More like boarding school–it’s a one bedroom.
“May be some preference for Ogden ES kids, but it’s not an auto admit.”
Oh I thought now all Ogden Elementary kids were guaranteed admission to the Ogden HS
“Oh I thought now all Ogden Elementary kids were guaranteed admission to the Ogden HS”
I had thought that, too, but must have changed it. Prob in conjuction with switch to ‘wall to wall’ IB this school year.
All Ogden kids are guaranteed entrance into Ogden International. Any empty spots in the high school are for tested in kids.
“68 Mustang Eleanor
65 GTO
68 Hemi Challenger
Ferrari 456M GT 4-door
2011 Range Rover Autobiography
2006 Mercedes CL 65
BMW Z8
Lambo Aventador
Ferrari 458 Italia
911 Turbo
2003 Audi RS6
Shelby Cobra”
First cl65 and not the atleast the AMG version or the braus (sp?). any porsche is just a sad midlife crisis car and should not be on any list or shown (ok to own one though). do you really need a gto and a chalager in the same garage? and no, no, no, no, no 4 door “super cars” yes you can have a m3/m5 merc amg something but a maserati/aston/ferrari/porshe 4 doors are out of the question.
and really can some one coem up with a list that doesnt look like a 7 year olds bedroom wall in the 80’s?
“All Ogden kids are guaranteed entrance into Ogden International. Any empty spots in the high school are for tested in kids.”
That was what I (and others) thought, but it’s not what it seems to say on cps or school site.
Drive a great big Cadillac
With gangsta whitewalls, TV antennas in the back.
Diamond in the back, sunroof top, diggin the scene
With a gangsta lean wooh-ooh-ooh.
“Diamond in the back, sunroof top, diggin the scene”
Is Diamond a stripper or prostitute in this scenario?
groove, the CL65 IS the AMG version
and those are just cars that I like and maybe at some point in my life could afford, I already own one of them 😉
Oh and fine, swap out my 911, for an Aston Martin DB7 convertible
“All Ogden kids are guaranteed entrance into Ogden International. Any empty spots in the high school are for tested in kids.”
That was what I (and others) thought, but it’s not what it seems to say on cps or school site.
That’s what we were told by the principal at the back to school assembly. The kids are already studying under the IB curriculum and the school is in the final stages of accreditation for K-8.
“Doing some digging, according to this 1986 Trib article:
http://articles.chicagotribune.com/1986-10-05/features/8603160787_1_cars-alloy-art-collection”
I can’t believe reading that article that they own those cars and use a Suzuki Saumari as a daily driver. Are they serious? I wouldn’t touch a Saumari or let it any where near this garage!
So if the kids can’t “make” Ogden HS, they’ll try out for Payton, Jones or Young, right?
Wonder if Jay Leno would like this as an “in-town” for himself, his wife, and his famous car/bike collection?
Or maybe just an entrepreneur who’d rent out the extra spaces at a premium to Navy Pier-goers.
The Suzuki Samurai was their “daily drive” back in 1986 (i.e, 27 years ago) when that article was written! I think that car may have been considered cool for a brief period back then. Sort of “shabby chic”. Come to think of it, much about their condo seems to date to that period as well.
benjamon9 (January 9, 2013, 5:19 pm)
I can’t believe reading that article that they own those cars and use a Suzuki Saumari as a daily driver. Are they serious? I wouldn’t touch a Saumari or let it any where near this garage!
” I wouldn’t touch a Saumari or let it any where near this garage!”
I wouldn’t touch one either, it might tip over
from 1986: “The collection includes a 1956 250 GT TDF, 0555, full competition alloy race car, one of seven early editions that were built, of which five were destroyed through racing (this one placed fourth in the 1957 Mille Miglia); a 1961 250 GT SWB, 2701, full comp alloy, one of only a handful built; a 1971 Ferrari 365 GTB4 Daytona Spyder, the most sought-after street Ferrari, one of 125 cars built, of which there are probably no more than a dozen in the U.S.; a 1974 246 Dino GTS with 1,300 miles on it; a 1965 275 GTB4 full comp alloy, one of only four cars; the very famous 1957 250 GT TDF, 0503, full comp alloy, and one of the most-winning Tour de France Ferraris; a 1974 V12 XKE Jaguar roadster convertible (“my first new car of my life,“); a 1965 LWB black Silver Cloud Rolls-Royce; a 1961 white Silver Cloud Rolls-Royce with license plate KL–Kathy`s car; a 1957 Lotus X1 LeMans competition car, also Kathy`s; plus a Suzuki Samurai, a Jeep-like car”
owner sold his company in 2010 according to Crains.
“The Suzuki Samurai was their “daily drive” back in 1986 (i.e, 27 years ago) when that article was written! I think that car may have been considered cool for a brief period back then.”
yes back then it was popular among gay male hairstylists. IIRC they even made a version that was pearl white with hot pink splashed paint decals.
I refreshed my memory through a quick Google search and found the following helpful website about the Suzuki Samurai: http://www.zukioffroad.com/samurai_history.shtml
“1985 was the year that the 1986 model year Samurai was released in America, and it was an instant hit. It started at $6200 and a fully loaded Samurai was $7500. Starting with a mere 1,200 trucks imported per month, sales increased to 8000 vehicles per month and Suzuki quickly found themselves with 47,000 Samurais sold by the end of their first year and 150,000 in three years. Not only was it the top-selling convertible in the United States, but it also captured the best first-year sales record of any Japanese car company. The Samurai had a 1.3 liter, 63 hp, 4-cylinder engine and was available as a convertible or a hardtop. The slow-selling hardtop was dropped after 1989, leaving only the convertible, in a single price level. The Suzuki Samurai became intensely popular within the serious 4wd community for its extreme off road performance and reliability compared to other 4wds of the time. It is also considered a great beginner 4wd due to its simple design and ease of modifications with engine swaps and suspension upgrades.”
But– A Consumer Report article about rollover potential caused the sales to drop off precipitously & the car was withdrawn from the US market in 1995.
I hadn’t recalled how popular it was, but 63 hp???!
Groove77 (January 10, 2013, 10:27 am)
. . .
yes back then it was popular among gay male hairstylists. IIRC they even made a version that was pearl white with hot pink splashed paint decals.
“Considering how strict, paranoid and anal HOAs are when it comes to any form of facelift in a unit, I am curious how this owner got the HOA to approve building a personal garage.”
I think the owner had a large flower and events business (with a major sign that used to be right by the Ontario entrance to the Kennedy) so maybe he agreed to provided free flowers to the lobby.
It looks like this was done before–or during–the conversion of the building to Condos (which occurred in late 1988) , so it was a deal done with the developers, not the HOA. In some conversions, the entire garage has been sold off to someone who then operates it as a business, so it’s not hard to imagine that the developer would be willing to sell of a small section of the garage, particularly if the price per sq. ft was significantly higher than the selling price for the equivalent number of individual garage spaces.
“Considering how strict, paranoid and anal HOAs are when it comes to any form of facelift in a unit, I am curious how this owner got the HOA to approve building a personal garage.”
That car collection could be worth 50-100 million
crazy
“That car collection could be worth 50-100 million”
A less rare version of the first one sold last year for $6.7mm:
http://www.rmauctions.com/CarDetails.cfm?SaleCode=MO12&CarID=r177
And a ’61 250 (the 2d car) has sold for over $10mm in ’08, but they’ve pulled back a little.
So, yeah.
Certainly not comparable, but when I lived at the Pinnacle, there is a private garage in the corner of the lowest floor. Nothing like this, just a 4 car private garage with two double overhead doors….not many things I am envious of…but that is certainly one of them.
For a Ferrari enthusiast like myself, that garage is amazing. IIRC, Trump has a handful or private garage units in the center of the parking garage for owners to purchase, but nothing to the scale of this.
Sorry an all-white human-less unit is just not-for-me. Nothing appealing about it. Cold, modern-done-bad, etc. etc, etc. The garage is cool but way overboard and showcases greed and pompousness vs anything else.
Although I fully agree the cars are amazing, I think the whole package still screams the year it was done. 1986. I can picture Tony Montana, Crockit & Tubbs, Duran Duran all hanging out with florescent martinis and piles of coke in this place.
“I can picture Tony Montana, Crockit & Tubbs, Duran Duran all hanging out with florescent martinis and piles of coke in this place.”
yeah probably, the owners’ are fighting age big-time now…but still getting photographed trying to look young in Chicago’s candid-candace mag. (our so-called “society” maven in the 21st century, candid-candace is a former porn model, hooray for progress in culture)