Price: $ 4.8 million
A rare supply of quality East Lake Shore Drive has surfaced at East Lake View, located on Belmont Harbor instead of Oak Street Beach.
The fifth floor condo at 3400 North Lake Shore Drive combines three routine floor plans to form the largest home in the building, a 7,877 square foot colossus with nearly 100 feet of lake frontage. Its classic finishes were actually installed about ten years ago during a full three-year renovation. It is a testament to the owners’ commitment to doing the right thing that they bought a unit on a lower floor so they can monitor progress but avoid construction. Now empty nests, the owners (names withheld) are set to sell and will publicly advertise their homes early next week for $ 4.8 million.
3400 North Lake Shore Drive is one of the only large buildings in the Belmont Harbor area built before World War I in 1912. It is also one of the only period buildings with a side driveway and garage. , with two spaces assigned to the featured unit.
A key-operated elevator opens directly into a private lobby with personalized doors to the limestone fireplace. Three openings to “public” rooms (living room, music room and den, and beyond the north and south wings) encourage impulsive orientation. These central spaces as well as the library and the dining room claim the front of the lake, with a direct view of the port.
“Most units of this caliber are in Gold Coast or Lincoln Park, and many are co-operatives,” says listing agent Jennifer Ames of Coldwell Banker. “At 2450 [North Lakeview Avenue] there were sales [of comparable units] in the $ 7 million range and you have to pay cash and get only one parking spot. Mortgages are frowned upon in many co-ops.
The soul of this condo is its chef’s kitchen with three ovens, zinc range hood, Viking appliances, cooler-bedroom, mahogany cabinetry and the largest island I’ve ever laid eyes on. The floors are in oak with large planks scraped by hand. Known for throwing a party or two, vendors come equipped with two pantries, a scullery, and a catering kitchen.
Passing past the main kitchen you come into a wood paneled family room with a south facing balcony. Another small balcony faces east from the music room. Consistency across common areas is a preference for mahogany – in pocket doors, panels, cabinets, and coffered ceilings; another is the recurrence of French sculpted marble fireplaces and plaster moldings to match the era. The renovation paid special attention to historical accuracy, even with the launch of decadent imports.
All five bedrooms have en-suite marble bathrooms and the south-facing master has two walk-in closets and his and her bathrooms with a shared shower in the middle. A long gallery with a barrel ceiling with hip lighting connects the bedrooms and an office. Between that and the foyer, there is plenty of exhibition space for a growing art collection.
A similar size combo two floors sold in 2005 for $ 2.9 million. Otherwise, only a handful of condos or co-ops have sold for over $ 2 million on the Lake View waterfront, and none for more than $ 3 million. The next most expensive active listing is a 4,900 square foot condo at the stunning tower at 421 West Melrose Street, for $ 1.3 million. This should tell you how unusual it is to find something like this north of Diversey.
The sellers have leased or owned at 3400 North Lake Shore Drive for more than 20 years, according to Ames, and although they are starting to favor their home in Italy, they will keep a presence in Chicago.