Total Renovation of a Half Floor Co-op at 229 E. Lake Shore Drive in the Gold Coast
This 4-bedroom in The Shoreland Apartments at 229 E. Lake Shore Drive in the Gold Coast came on the market in April 2022.
Built in 1918-1919, The Shoreland Apartments was designed by John Fugard who also designed 219 E. Lake Shore Drive next door several years later. The Shoreland is now a co-op building and only has 20 half-floor units.
It does not have parking but the listing says the building has a patio/garden area in the back. The building does have door staff.
This unit has had a “total renovation” which includes “new windows, doors, pipes, plumbing fixtures, a/c systems.”
It has 2 fireplaces, including one in the living room and one in the primary bedroom, a large foyer and a library.
The kitchen has been opened to the family room and dining room. It has white and blue cabinets, a full size island, Subzero fridge, beverage drawers and wine cooler, a Wolf range, wall oven and microwave and a Bosch dishwasher along with a Butler’s pantry.
There are built-ins throughout.
The primary suite has 2 closets and an en suite marble bath with steam shower and radiant flooring.
The second and third bedrooms are also en suite.
The fourth bedroom is used as a den.
The unit has the features buyers look for including dual zoned space pak air, a full sized laundry room but it does not have parking on-site. The listing says it’s available to rent at “The Drake for $320/mo. and 990 Lake Shore Dr. for $350/mo.”
Originally listed in April 2022 for $2.199 million, it has been reduced to $1.749 million.
There are 5 units available in The Shoreland Apartments out of 20 units including Unit #4E, which is listed at $1.999 million.
The monthly assessment includes both the base assessment and the real estate taxes.
East Lake Shore Drive used to be the premier luxury street for condo/co-op buyers in the city. This unit has views of Lake Michigan, DuSable Lake Shore Drive and Oak Street Beach.
Is it still one of Chicago’s top streets?
Suzanne Gignilliat and Joelle Cachey Hayes at @Properties Christie’s have the listing. See the pictures here. Sorry, no floor plan.
Unit #5E: 4 bedrooms, 3.5 baths, 3600 square feet
- Unclear about prior sales price because it’s a co-op so other unit sales can show up in Redfin/Zillow listings.
- Originally listed in April 2022 at $2.199 million (according to Zillow)
- Reduced
- Currently listed at $1.749 million
- Assessments of $7613 a month (includes real estate taxes of $2949 and base of $4664 which includes heat, gas, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes: included in assessment
- Dual zoned space pac
- Washer/dryer in the unit
- 2 fireplaces
- No parking but available to rent in the neighborhood for $320 a month or $350 a month
- Bedroom #1: 22×15
- Bedroom #2: 19×15
- Bedroom #3: 15×17
- Bedroom #4: 13×13
- Living room: 25×17
- Dining room: 15×21
- Family room: 15×21
- Kitchen: 17×18
- Laundry room: 8×11
- Foyer: 23×10
- Library: 19×12
I’ve always thought that this was indeed the premier street in Chicago. A friend owns a co-op on the same block and the view facing north is spectacular and the location is awesome. Step out your front door and everything is right there. However, with the co-op assessments you don’t really own your unit. You effectively half rent it forever.
Nice place and solid floor plan but the taxes + Assesments are about equal to the P&I on a nearly $2MM home
“However, with the co-op assessments you don’t really own your unit. You effectively half rent it forever.”
Over 100 year old limestone building with 24/7 door staff. Aren’t you simply renting a 100 year old limestone mansion in the Gold Coast too with all the maintenance, landscaping etc you do on that home too? And it doesn’t have people sitting in the doorway which you have to pay health insurance and a pension for.
Housing is a money suck because it must be maintained. Many don’t do it as they age and that’s why you get so many houses/condos with 40 year old appliances in estate sales and deferred maintenance, in general.
“Aren’t you simply renting a 100 year old limestone mansion in the Gold Coast too with all the maintenance, landscaping etc you do on that home too? And it doesn’t have people sitting in the doorway which you have to pay health insurance and a pension for.”
Technically you are correct but it’s not an apples to apples comparison. With the mansion you have your own yard and with the co-op you have all this staff. Not sure that a 100 year old limestone mansion that has been properly renovated has any more maintenance than a 100 year old brick house or a 20 year old brick house that wasn’t built right in the first place.
But I agree that houses are a black hole.
Two ELSD units in a row! Wow. Do you really expect us to slum it like this?
I read recently that the ELSD census tract is one of top-10 wealthiest in the U.S. Which explains why I don’t live there.
Gary, I’ll take staff over a yard any day. Yards are way over-rated. We’ve had one for 20 years and I’m sick of the constant upkeep. I do like my front porch, however.
“Gary, I’ll take staff over a yard any day. Yards are way over-rated. We’ve had one for 20 years and I’m sick of the constant upkeep. I do like my front porch, however.”
I thought you lived at the Hancock?
The Hancock was a one-year fun pied-a-terre rental for my wife and me. We live on the North Shore.
“Yards are way over-rated. We’ve had one for 20 years and I’m sick of the constant upkeep.”
Since moving in about 4.5 years ago, we’ve covered about 80% of the backyard lawn with patio surface and a trampoline area (formerly pandemic pool area and eventual sauna + cold plunge area), and reduced our front yard lawn by about 40% by doubling the driveway width and running a river rock border along the sidewalk. That really reduced summer upkeep (and made fall leaf collection easier), but there’s now a lot more shoveling to do.
“a lot more shoveling”
You would seem to have a use case for a snow blower.
I used to manually shovel my 150′ of driveway… last year I got sick of it after an especially wet snowstorm and dropped a g on a toro gas snowblower… best money I have spent in a long time!!!