Home for Sale at 505 N Lake Shore Drive, Chicago, IL 60611

505 N Lake Shore Drive
Chicago, IL 60611

« Prev

Property Details

List Price:	$675,000
Beds:	2
Baths:	2
Status:	Active
SqFt:	1450
Agency:	Compass Real Estate

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	1968
Notes:	Welcome to a luxurious urban oasis in the heart of Chicago's iconic Lake Point Tower. This stunning 2-bedroom, 2-bathroom unit at 505 N Lake Shore Dr, Unit 5006, offers over 1,400 square feet of refined living space and boasts breathtaking views that will leave you in awe. As you step inside, you'll be greeted with an abundance of natural light flooding in from the wall-to-wall windows that frame the remarkable vistas. From the comfort of your own home, enjoy unobstructed views of Lake Michigan, Navy Pier, and the pristine Chicago beaches. Imagine waking up to the mesmerizing sunrises over Lake Michigan, setting the tone for your day in the most spectacular way. Lake Point Tower is not just a residence; it's a Chicago landmark and an architectural masterpiece. 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 some 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 a host of amenities, including a state-of-the-art fitness center, indoor and outdoor pools, and a 2.5-acre park, providing residents with an unparalleled urban retreat. 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. Contact us today to schedule a private viewing and make Lake Point Tower your new home.
MlsNumber:	11957730

Listing Provided By:	Compass Real Estate, original listing
Name:	Compass Real Estate
Office Name:	Compass
Office Phone:	(773) 482-1917
Agent Name:	Joseph Kotoch
Disclaimer:	Copyright Â© 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

- Pat. 7,813,958 - Pat. 7,958,007 - Pat. 8,046,258 - Pat. 8,073,737 - Pat. 8,190,476 - Pat. 8,195,514
- Pat. 8,306,856 - Pat. 8,412,576 - Pat. 8,510,165 - Pat. 8,825,527 -