With the possible exception of Michigan Avenue, there is no other Chicago street that has quite as much cachet and glamour as Lakeshore Drive. Home to some of the city’s most celebrated residential architecture and virtually synonymous with gracious living. Living in a Chicago luxury condo or apartment on Lakeshore Drive is a sure sign that you’ve made it. Of course, the aforementioned facts are what make available Chicago real estate located on this street so rare and highly coveted.
However, two exquisite Lakeshore Drive properties are currently on the market – #2E and #7E in the elegant Mayfair building, located where Lakeshore meets Oak Street and Michigan Avenue. This vintage building was built in 1924 and served as one of Chicago’s most upscale hotels, and it was fully renovated in 1998, when it won a national award for its perfect preservation. Its historic charm is complemented by modern amenities, such as a twenty-four hour doorman, an attached parking garage, and a state of the art fitness center, ensuring that residents experience the best of both the past and the present.
What makes these two Chicago condos so highly sought after is the very fact that they are condos, and not co-ops like most of Chicago’s Lakeshore Drive real estate. This is a positive because in order to purchase a co-op unit, buyers must reveal their financial history and assets to the co-op board, there are limited opportunities for loans, and large down payments are required. Two of the co-op buildings on this street require that you purhase an apartment entirely in cash. Purchasing a condo is a relative walk in the park, or in this case, a walk along nearby Oak Street Beach.
The Mayfair has a maximum of two residences per floor, and no two units are exactly alike. The original homeowners worked with the city’s premier architectures to create unique living spaces within the building’s exterior walls, lending each of these Chicago condos an exclusive allure. Unit #2E is 3800 square feet with a 576 square foot private terrace; Unit #7E is also 3800 square with a large private balcony, allowing for fabulous lake and skyline views as well as outdoor living in the heart of the city. The interiors of these condos are just as elegant as the exterior – in fact, #7E was even featured on the front page of Home & Garden magazine.
*Image in this post courtesy of Jennifer Ames, a fellow Chicago real estate agent.