This Multifamily Property is no longer advertised on LoopNet.com.

505 N Lake Shore Dr
Chicago, IL 60611
 Lake Point Tower Opportunity · Multifamily Property For Sale · 752 Units

Apartment Buildings Illinois Chicago 505 N Lake Shore Dr, Chicago, IL 60611

Investment Highlights

  • Spacious 5,000± SF unit on 70th floor penthouse atop Lake Point Tower
  • Floor-to-ceiling windows throughout the entire unit
  • Includes 2,650± SF additional storage and/or office space on 2nd floor
  • Unobstructed, 360-degree views of downtown, Navy Pier & Lake Michigan
  • Private elevator from floor 68 to 70
  • Deeded parking spaces available

Executive Summary

This bankruptcy sale has a qualifying bid deadline of Monday, August 1. There will be a scheduled on-site inspection on Wednesday, July 13, and Saturday, July 16, at 10:00 a.m. (CT). For additional inspection times and dates, please call to schedule an appointment. This sale represents a once-in-a-lifetime opportunity to establish a restaurant/bar or redevelop the space into a residential penthouse in one of Chicago’s most iconic buildings: Lake Point Tower, famously known as the only high-rise building located east of Lake Shore Drive. The space features floor-to-ceiling windows, highlighting its remarkable 360-degree panoramic views of Chicago’s skyline, Navy Pier and Lake Michigan. Currently operating as Cité, a world-class restaurant, it features a full commercial-grade kitchen that is supported by four suites located on the building’s second floor for storage, kitchen prep and office work. Those additional units can be converted into storage areas, totaling 2,650± SF, for a penthouse development. All initial qualifying bids will be required to be submitted on the approved Purchase and Sale Agreement. This sale is being conducted subject to the approved Bid Procedures, available for download from the Hilco Real Estate (HRE) website at www.LPTpenthouse.com.

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
No. Units 752 Building Size 1,491,140 SF
Property Type Multifamily No. Stories 70
Property Subtype Apartment Year Built 1968
Apartment Style Hi-Rise Parking Ratio 0.34/1,000 SF
Building Class A No. Drive In / Grade-Level Doors 2
Lot Size 3.57 AC APN / Parcel ID
17-10-214-009-0000
  • 17-10-214-016-1019
  • 17-10-214-016-1039
  • 17-10-214-016-1063
  • 17-10-214-016-1070
  • 17-10-214-016-1071
  • 17-10-214-016-1077
  • 17-10-214-016-1092
  • 17-10-214-016-1093
  • 17-10-214-016-1094
  • 17-10-214-016-1095
  • 17-10-214-016-1102
  • 17-10-214-016-1154
  • 17-10-214-016-1161
  • 17-10-214-016-1185
  • 17-10-214-016-1186
  • 17-10-214-016-1194
  • 17-10-214-016-1195
  • 17-10-214-016-1210
  • 17-10-214-016-1211
  • 17-10-214-016-1212
  • 17-10-214-016-1213
  • 17-10-214-016-1216
  • 17-10-214-016-1222
  • 17-10-214-016-1228
  • 17-10-214-016-1252
  • 17-10-214-016-1253
  • 17-10-214-016-1309
  • 17-10-214-016-1319
  • 17-10-214-016-1320
  • 17-10-214-016-1327
  • 17-10-214-016-1339
  • 17-10-214-016-1340
  • 17-10-214-016-1362
  • 17-10-214-016-1419
  • 17-10-214-016-1420
  • 17-10-214-016-1421
  • 17-10-214-016-1432
  • 17-10-214-016-1436
  • 17-10-214-016-1447
  • 17-10-214-016-1452
  • 17-10-214-016-1489
  • 17-10-214-016-1490
  • 17-10-214-016-1491
  • 17-10-214-016-1494
  • 17-10-214-016-1515
  • 17-10-214-016-1538
  • 17-10-214-016-1539
  • 17-10-214-016-1547
  • 17-10-214-016-1548
  • 17-10-214-016-1561
  • 17-10-214-016-1562
  • 17-10-214-016-1573
  • 17-10-214-016-1579
  • 17-10-214-016-1580
  • 17-10-214-016-1595
  • 17-10-214-016-1601
  • 17-10-214-016-1603
  • 17-10-214-016-1604
  • 17-10-214-016-1605
  • 17-10-214-016-1606
  • 17-10-214-016-1633
  • 17-10-214-016-1634
  • 17-10-214-016-1635
  • 17-10-214-016-1644
  • 17-10-214-016-1645
  • 17-10-214-016-1656
  • 17-10-214-016-1657
  • 17-10-214-016-1665
  • 17-10-214-016-1692
  • 17-10-214-016-1724
  • 17-10-214-016-1725
  • 17-10-214-016-1751
  • 17-10-214-016-1764
  • 17-10-214-016-1779
  • 17-10-214-016-1780
  • 17-10-214-016-1789
  • 17-10-214-016-1816
  • 17-10-214-016-1832
  • 17-10-214-016-1841
  • 17-10-214-016-1842
  • 17-10-214-016-1850
  • 17-10-214-016-1851
  • 17-10-214-016-1873
  • 17-10-214-019-1014
  • 17-10-214-019-1035
  • 17-10-214-019-1039
  • 17-10-214-019-1042
  • 17-10-214-019-1048
  • 17-10-214-019-1068
  • 17-10-214-019-1088
  • 17-10-214-019-1107
  • 17-10-214-019-1109
  • 17-10-214-019-1126
  • 17-10-214-019-1155
  • 17-10-214-019-1165
  • 17-10-214-019-1179
  • 17-10-214-019-1216
  • 17-10-214-019-1227
  • 17-10-214-019-1252
  • 17-10-214-019-1258
  • 17-10-214-019-1263
  • 17-10-214-019-1313
  • 17-10-214-019-1314
  • 17-10-214-019-1315
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  • 17-10-214-019-1338
  • 17-10-214-019-1354
  • 17-10-214-019-1364
  • 17-10-214-019-1379
  • 17-10-214-019-1421
Zoning DX-12 - Downtown Mixed-Use
No. Units 752
Property Type Multifamily
Property Subtype Apartment
Apartment Style Hi-Rise
Building Class A
Lot Size 3.57 AC
Building Size 1,491,140 SF
No. Stories 70
Year Built 1968
Parking Ratio 0.34/1,000 SF
No. Drive In / Grade-Level Doors 2
APN / Parcel ID
17-10-214-009-0000
  • 17-10-214-016-1019
  • 17-10-214-016-1039
  • 17-10-214-016-1063
  • 17-10-214-016-1070
  • 17-10-214-016-1071
  • 17-10-214-016-1077
  • 17-10-214-016-1092
  • 17-10-214-016-1093
  • 17-10-214-016-1094
  • 17-10-214-016-1095
  • 17-10-214-016-1102
  • 17-10-214-016-1154
  • 17-10-214-016-1161
  • 17-10-214-016-1185
  • 17-10-214-016-1186
  • 17-10-214-016-1194
  • 17-10-214-016-1195
  • 17-10-214-016-1210
  • 17-10-214-016-1211
  • 17-10-214-016-1212
  • 17-10-214-016-1213
  • 17-10-214-016-1216
  • 17-10-214-016-1222
  • 17-10-214-016-1228
  • 17-10-214-016-1252
  • 17-10-214-016-1253
  • 17-10-214-016-1309
  • 17-10-214-016-1319
  • 17-10-214-016-1320
  • 17-10-214-016-1327
  • 17-10-214-016-1339
  • 17-10-214-016-1340
  • 17-10-214-016-1362
  • 17-10-214-016-1419
  • 17-10-214-016-1420
  • 17-10-214-016-1421
  • 17-10-214-016-1432
  • 17-10-214-016-1436
  • 17-10-214-016-1447
  • 17-10-214-016-1452
  • 17-10-214-016-1489
  • 17-10-214-016-1490
  • 17-10-214-016-1491
  • 17-10-214-016-1494
  • 17-10-214-016-1515
  • 17-10-214-016-1538
  • 17-10-214-016-1539
  • 17-10-214-016-1547
  • 17-10-214-016-1548
  • 17-10-214-016-1561
  • 17-10-214-016-1562
  • 17-10-214-016-1573
  • 17-10-214-016-1579
  • 17-10-214-016-1580
  • 17-10-214-016-1595
  • 17-10-214-016-1601
  • 17-10-214-016-1603
  • 17-10-214-016-1604
  • 17-10-214-016-1605
  • 17-10-214-016-1606
  • 17-10-214-016-1633
  • 17-10-214-016-1634
  • 17-10-214-016-1635
  • 17-10-214-016-1644
  • 17-10-214-016-1645
  • 17-10-214-016-1656
  • 17-10-214-016-1657
  • 17-10-214-016-1665
  • 17-10-214-016-1692
  • 17-10-214-016-1724
  • 17-10-214-016-1725
  • 17-10-214-016-1751
  • 17-10-214-016-1764
  • 17-10-214-016-1779
  • 17-10-214-016-1780
  • 17-10-214-016-1789
  • 17-10-214-016-1816
  • 17-10-214-016-1832
  • 17-10-214-016-1841
  • 17-10-214-016-1842
  • 17-10-214-016-1850
  • 17-10-214-016-1851
  • 17-10-214-016-1873
  • 17-10-214-019-1014
  • 17-10-214-019-1035
  • 17-10-214-019-1039
  • 17-10-214-019-1042
  • 17-10-214-019-1048
  • 17-10-214-019-1068
  • 17-10-214-019-1088
  • 17-10-214-019-1107
  • 17-10-214-019-1109
  • 17-10-214-019-1126
  • 17-10-214-019-1155
  • 17-10-214-019-1165
  • 17-10-214-019-1179
  • 17-10-214-019-1216
  • 17-10-214-019-1227
  • 17-10-214-019-1252
  • 17-10-214-019-1258
  • 17-10-214-019-1263
  • 17-10-214-019-1313
  • 17-10-214-019-1314
  • 17-10-214-019-1315
  • 17-10-214-019-1319
  • 17-10-214-019-1338
  • 17-10-214-019-1354
  • 17-10-214-019-1364
  • 17-10-214-019-1379
  • 17-10-214-019-1421
Zoning DX-12 - Downtown Mixed-Use

Amenities

Site Amenities

  • Business Center
  • Controlled Access
  • Fitness Center
  • Pool
  • Spa
  • Waterfront
  • Doorman
  • Package Service
  • Walking/Biking Trails
  • Elevator
  • Lounge
  • Pond
  • Sundeck

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 752 - -

Links

 

  • Listing ID: 25819833

  • Date on Market: 5/31/2022

  • Last Updated:

  • Address: 505 N Lake Shore Dr, Chicago, IL 60611

The Streeterville Multifamily Property at 505 N Lake Shore Dr, Chicago, IL 60611 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.

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