Chris, Home Seller in Near North Side, Chi...

What is your opinion about the 680 Lake shore Drive building ?

Asked by Chris, Near North Side, Chicago, IL Tue Dec 8, 2009

With the Veteran building and CBS Studio now gone, will the future North Western Hospital development enhance the value of the property ?

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6
Matt Laricy’s answer
Chris,
I think the building is nice. The units are a little different that your typical cookie cutter stuff you see on a lot of new construction. However, its an older building so the assessments are high. I really like the units with the good views. The ones with the bad views are not so great. I would have your agent schedule you an appointent and take a look at all the units available. Good luck!

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlamericorp@aol.com
708-250-2696
0 votes Thank Flag Link Tue Dec 8, 2009
Chris,

I am a real estate broker and I currently live in the 680 Lake Shore building. I know I am losing some of my view because of the buildings going up. It is also going to make the area a bit more busy and crowded.

Overall I do not think it will have much of an effect on prices.

Let me know if you have any specific questions that I may be able to answer.

Doug Boehm
dougb@bestchicagoproperties.com
0 votes Thank Flag Link Sun Mar 9, 2014
Great building. Has a cult following of residents who move within the building. The Northwestern expansion will only increase the value for a multitude of reasons. Let me know if I may be of further assistance in answering your questions.
0 votes Thank Flag Link Sun Mar 9, 2014
Hello Chris,

680 is a fine building. If memory serves me, before it was a condo and my uncle had an office there, the street address was 666 Lake Shore Drive. I don't know if that is a portent of any kind - I will leave that to you.

Will values increase with CBS and the VA going away? I doubt it. Values have been pretty consistent there historically, with larger lake-facing units going for higher amounts. The location is good and services are as well. But assessments are somewhat high and parking spaces, when available, tend to be above $70k. Parking assessments when clients in the past considered units here were in excess of $100.

Many of the units I have seen here that face south have kind of quirky layouts - they are either one beds with a den or two beds, with the den or bedroom being an interior space devoid of windows. And though these units are close to 1500 sf they feel a bit oddly textured because the paucity of windows.

Looking for the right place benefits from looking with the right agent. Some respondents here, myself included, are very good choices when you determine that you desire professional assistance in finding your new home or selling your current one.

Best regards,

Tom McCarey
The Real Estate Lounge Chicago with @properties
Certified in Buyer's Representation, Negotiation and Luxury Home Marketing
0 votes Thank Flag Link Tue Dec 8, 2009
680 Lake Shore Drive has always been a unique building in that it is pretty much self contained with a pharmacy, grocery store, hardware store, restaurant, etc. The apartments are huge which make them a good choice for empty nesters downsizing from a house or a young family. It is true that it is generally not considered a view building. People buy there for space and location. Convenient to Michigan avenue shopping and dining as well as for doctors at Northwestern. Downsides are the assessments which are considered high and parking. Most units do not own parking and rental is $325/mth.

There are currently nine units on the market priced from $289,000 to $1,250,000. The smallest square footage is just under 1100 square feet. This is listed as one bedroom but is technically a studio. The largest listing is for a combined unit of 4100 square feet.

If you would like more information, please feel free to contact me.

Best regards,
Sandra Matson, CRS, GRI, ABR, ADPR
Baird & Warner
Direct: 312.981.2315
Sandra@ChicagoMetroLiving.com
0 votes Thank Flag Link Tue Dec 8, 2009
What's wrong with the values in the building? Is the neighborhood deteriorating:) The units are very spacious with charachtor you do not commonly find. Some of the views are great and others not so hot, but the main issue with the building for many folks is that the assessments are very high mostly because it's an older building that requires more $$$ maintenance. Most 20-30 somethings are not interested.

philip
0 votes Thank Flag Link Tue Dec 8, 2009
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