Seller's Agent in 2024
Mike Frank
Keller Williams Preferred Realty
(773) 251-8963
8 in this area
193 Total Sales
Lake Point Tower 505 N Lake Shore Dr Unit 5006 Chicago, IL 60611
Streeterville NeighborhoodEstimated Value: $674,000 - $698,000
2
Beds
2
Baths
1,450
Sq Ft
$1,225/mo
HOA Fee
Highlights
- Doorman
- Steam Room
- In Ground Pool
- Lake Front
- Fitness Center
- 2-minute walk to Addams (Jane) Memorial Park
About This Home
As of August 2024Welcome to this bright and spacious, luxurious, urban oasis on the 50th floor of Chicago's iconic Lake Point Tower. This stunning East facing corner 2 bedroom/2 bath home offers 1,450 square feet of refined living space and boasts breathtaking unobstructed views of Lake Michigan, Navy Pier, and pristine Chicago beaches from every room through wall-to-wall windows that will leave you in awe. Relax and unwind while watching amazing sunrises, sail boats and fireworks from the comfort of your own living room. As you step inside, you'll be greeted with an abundance of natural light flooding in from the walls of windows that frame the remarkable vistas. Imagine waking up to the mesmerizing sunrises over Lake Michigan, setting the tone for your day in the most spectacular way. This amazing home features a white kitchen with 42" cabinets, stainless steel appliances, a large pass through with breakfast bar & a pantry closet. The generously sized main bedroom offers a spacious bath ensuite, featuring a whirlpool tub/shower combo. Freshly painted, premium custom window shades on every window, new luxury vinyl flooring throughout the living space and bedrooms, convenient in-unit laundry and a separate storage locker included. Newly furnished, to include bedding and towels, making this beautiful home "move in ready." Lake Point Tower is not just a residence; it's a Chicago landmark, an architectural masterpiece, and a lifestyle. This iconic building, completed in 1968, was designed by the renowned architect John Heinrich and stands as a testament to Chicago's rich architectural history. It was the world's tallest apartment building when constructed and remains one of the most sought-after addresses in the city. 505 N. Lake Shore Dr. is steeped in history and located in the heart of Streeterville, an area renowned for its vibrant culture and proximity to many of the city's most famous landmarks. Navy Pier, just steps away, has been an integral part of Chicago's history for over a century, offering entertainment, dining, and cultural experiences. The Lake Michigan shoreline, a backdrop to your everyday life, is a reminder of Chicago's historical connection to the Great Lakes. Living in Lake Point Tower means being part of a community with a rich legacy in Chicago's real estate landscape. This remarkable building boasts 5-star amenities including 24hr door staff, indoor & outdoor pools, state of the art fitness center, sauna & steam rooms, 2 hot tubs, racquetball/basketball/pickleball court, business center, mini grocery store, 2.5 acre private park with grilling area, community room, dry cleaners, restaurant, children's play areas, beauty salon, library & dog wash station providing residents with an unparalleled urban retreat. The amazing Streeterville location makes it easy to enjoy walking or biking along the Lake, dining at nearby restaurants & shopping on Michigan Ave. Easy access to Navy Pier, public transportation, Lake Shore Drive, downtown Chicago & grocery stores. Parking is available for rent or for purchase. Experience the epitome of Chicago living at 505 N Lake Shore Dr, Unit 5006, where breathtaking views, modern updates, and a connection to the city's history converge. This is your opportunity to own a piece of Chicago's iconic skyline and history. Don't miss out on this exceptional urban sanctuary.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $10,901
Year Built
- Built in 1968 | Remodeled in 2023
Lot Details
- End Unit
- Landscaped Professionally
HOA Fees
- $1,225 Monthly HOA Fees
Parking
- 1 Car Attached Garage
- Leased Parking
- Heated Garage
- Garage Door Opener
Home Design
- Pillar, Post or Pier Foundation
- Reinforced Caisson Foundation
- Concrete Perimeter Foundation
Interior Spaces
- 1,450 Sq Ft Home
- Entrance Foyer
- L-Shaped Dining Room
- Storage
Kitchen
- Range
- Microwave
- Dishwasher
- Stainless Steel Appliances
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Potential Bedrooms
- 2 Full Bathrooms
- Whirlpool Bathtub
Laundry
- Laundry in unit
- Dryer
- Washer
Home Security
Accessible Home Design
- Accessibility Features
- Doors with lever handles
- Doors are 32 inches wide or more
- No Interior Steps
- Entry Slope Less Than 1 Foot
Eco-Friendly Details
- Green Roof
Outdoor Features
- In Ground Pool
- Pond
- Outdoor Grill
Schools
- Ogden Elementary
- Wells Community Academy Senior H High School
Utilities
- Zoned Cooling
- 3+ Cooling Systems Mounted To A Wall/Window
- Heating Available
- 200+ Amp Service
- Lake Michigan Water
- Cable TV Available
Community Details
Overview
- Association fees include water, insurance, security, doorman, tv/cable, exercise facilities, pool, exterior maintenance, lawn care, scavenger, snow removal, internet
- 758 Units
- Seth.Winnie@Fsresidential.Com Association, Phone Number (312) 645-8808
- High-Rise Condominium
- Lake Point Tower Subdivision
- Property managed by First Service Residential- Seth Winnie
- 70-Story Property
Amenities
- Doorman
- Valet Parking
- Building Patio
- Common Area
- Restaurant
- Steam Room
- Business Center
- Party Room
- Coin Laundry
- Service Elevator
- Package Room
- Convenience Store
- Community Storage Space
- Elevator
Recreation
- Community Spa
- Park
- Bike Trail
Pet Policy
- Pets up to 55 lbs
- Limit on the number of pets
- Pet Size Limit
- Dogs and Cats Allowed
Security
- Resident Manager or Management On Site
- Storm Screens
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 24, 2024
Closed on
Aug 2, 2024
Sold by
Kaplan Sherwin and Sullivan Patricia
Bought by
Moll Randall
Seller's Agent
Mike Frank
Keller Williams Preferred Realty
Buyer's Agent
Mary Nack
Compass
List Price
$675,000
Sold Price
$675,000
Total Days on Market
78
Views
97
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$13,718
Avg. Annual Appreciation
2.87%
Purchase Details
Listed on
Dec 30, 2019
Closed on
Feb 24, 2020
Sold by
Chen Sarah J
Bought by
Kaplan Sherwin and Sullivan Patricia
Seller's Agent
Matt Laricy
Americorp, Ltd
Buyer's Agent
Robert Mack
@properties Christie's International Real Estate
List Price
$615,000
Sold Price
$603,000
Premium/Discount to List
-$12,000
-1.95%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.57%
Purchase Details
Closed on
Aug 26, 1999
Sold by
Shah Satish K and Shah Nayna S
Bought by
Chen Sarah J
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
7.25%
Purchase Details
Closed on
Feb 7, 1997
Sold by
Siegrist Alan F and Siegrist Susan J
Bought by
Shah Satish K and Shah Nayna S
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$214,600
Interest Rate
7.74%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Moll Randall | $675,000 | Chicago Title | |
| Kaplan Sherwin | $603,000 | City Wide Title Corporation | |
| Chen Sarah J | $379,500 | -- | |
| Shah Satish K | $300,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Chen Sarah J | $180,000 | |
| Previous Owner | Chen Sarah J | $100,000 | |
| Previous Owner | Chen Sarah J | $292,000 | |
| Previous Owner | Chen Sarah J | $292,000 | |
| Previous Owner | Chen Sarah J | $292,000 | |
| Previous Owner | Chen Sarah J | $300,000 | |
| Previous Owner | Shah Satish K | $214,600 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/09/2024 08/09/24 | Sold | $675,000 | 0.0% | $466 / Sq Ft |
| 07/12/2024 07/12/24 | Pending | -- | -- | -- |
| 04/24/2024 04/24/24 | For Sale | $675,000 | 0.0% | $466 / Sq Ft |
| 08/14/2020 08/14/20 | Rented | $3,350 | -4.3% | -- |
| 03/10/2020 03/10/20 | For Rent | $3,500 | 0.0% | -- |
| 02/28/2020 02/28/20 | Sold | $603,000 | -2.0% | -- |
| 01/06/2020 01/06/20 | Pending | -- | -- | -- |
| 12/30/2019 12/30/19 | For Sale | $615,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $10,901 | $61,904 | $3,558 | $58,346 |
| 2023 | $10,901 | $53,000 | $2,872 | $50,128 |
| 2022 | $10,901 | $53,000 | $2,872 | $50,128 |
| 2021 | $10,657 | $52,998 | $2,871 | $50,127 |
| 2020 | $10,889 | $51,982 | $2,213 | $49,769 |
| 2019 | $10,650 | $56,437 | $2,213 | $54,224 |
| 2018 | $10,470 | $56,437 | $2,213 | $54,224 |
| 2017 | $10,111 | $50,346 | $1,885 | $48,461 |
| 2016 | $9,584 | $50,346 | $1,885 | $48,461 |
| 2015 | $8,745 | $50,346 | $1,885 | $48,461 |
| 2014 | $8,873 | $50,389 | $1,475 | $48,914 |
| 2013 | $8,686 | $50,389 | $1,475 | $48,914 |
Source: Public Records
Agents Affiliated with this Home
-
Mike Frank
-
James Frank
Seller Co-Listing Agent in 2024
James Frank
Keller Williams Preferred Realty
(630) 212-8322
4 in this area
133 Total Sales
-
Mary Nack
Buyer's Agent in 2024
Mary Nack
Compass
(773) 837-7008
2 in this area
46 Total Sales
-
Robert Mack
Seller's Agent in 2020
Robert Mack
@ Properties
(312) 545-6880
19 in this area
19 Total Sales
-
Matt Laricy
Seller's Agent in 2020
Matt Laricy
Americorp, Ltd
(708) 250-2696
137 in this area
2,441 Total Sales
-
N
Buyer's Agent in 2020
Non Member
NON MEMBER
About Lake Point Tower
Map
Similar Homes in Chicago, IL
Source: Midwest Real Estate Data (MRED)
MLS Number: 12018140
APN: 17-10-214-016-1205
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