ONE-OF-A-KIND RESIDENTIAL PENTHOUSE DEVELOPMENT OPPORTUNITY
70TH FLOOR OF CHICAGO'S ICONIC LAKE POINT TOWER CONTACT FOR MORE DETAILSOWN the only penthouse east of lake shore drive
5,000± SF with Unobstructed, 360° Skyline and Lake Views
505 N. Lake Shore Drive, Units 7000, 207, 209, 209A & 224, Chicago, Illinois
QUALIFYING BID DEADLINE: AUGUST 1
Open Houses: Wednesday, July 13, & Saturday, July 16
Call to Schedule Additional Viewing Times and Dates
Hilco Real Estate, LLC announces August 1, 2022 as the bid deadline for the bankruptcy sale of the iconic Cité restaurant (space), known as “the crown jewel” of Lake Point Tower, the famed, architecturally-significant skyscraper that stands alone as the only high-rise building located east of Lake Shore Drive. Totaling 5,000± square feet, the 70th floor circular space sits atop the famous tower and offers 360-degree, unobstructed panoramas of the city skyline and Lake Michigan through floor-to-ceiling windows. The sale also includes four commercial spaces located on the building’s second floor that total approximately 2,650 square feet.
A private elevator whisks you into this full-floor penthouse at the coveted Lake Point Tower building in the heart of Streeterville. With floor-to-ceiling windows, this location provides breathtaking, 360-degree views of the lake, skyline and Navy Pier as well as an unrivaled bird’s eye view of the Summer Fireworks Display and the Chicago Air and Water Show. This future home is perfect for both grand-scale entertaining and everyday living with panoramic views that allow for a variety of floor plan customizations. The stunning space provides ample room for many options, such as an in-home gym, home theater and/or offices and more. On-site amenities include an outdoor and indoor pool, indoor hot tubs, sun deck, Skyline Park, fitness center and studio, racquetball court, lounge, library, business center, community room and 24-hour doorman. The use of amenities are subject to HOA approval. Lake Point Tower is within walking distance to the best that Chicago offers, from Ohio Street Beach to the exclusive shops on Michigan Avenue and the plethora of nearby restaurants and bars.
HIGHLIGHTS
- 70th floor penthouse atop Lake Point Tower
- Unobstructed 360-degree views of downtown, Navy Pier and Lake Michigan
- The only exclusive penthouse unit east of Lake Shore Drive in the city
- 5,000± SF to create your dream home in the sky
- Floor-to-ceiling windows throughout the entire exterior of the unit
- Unparalled location on Lake Shore Drive in Streeterville by Magnificent Mile, Millennium Park, adjacent to Navy Pier and Ohio Street Beach
- Private elevator from floor 68 to 70
- Includes 2,650± SF additional storage space on 2nd floor
- Deeded parking spaces available
Qualifying Bid Deadline
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LOCATION INFORMATION
Just beyond Lake Point Tower’s grounds sits historic Navy Pier, Chicago’s premier tourist attraction, drawing nearly nine million visitors annually. Spanning 3,300 linear feet and encompassing over 50 acres, Navy Pier keeps an impressive calendar of events, offering a host of free public programs, attractions, live music, theater and dance performances, a world-class children’s museum, art exhibits, diverse cultural celebrations, lake cruises, an array of dining and shopping options and free firework displays throughout the summer.
Streeterville and the surrounding area is located along beautiful Lake Michigan, just north of the Chicago River. This vibrant, historic neighborhood has a homey, residential feel as it sits east of the popular Magnificent Mile of Michigan Avenue where high-end retail, restaurants and residential homes can be found. The famous Navy Pier and the Centennial Ferris Wheel reach out from the base of Lake Point Tower directly into the lake from southern Streeterville. The neighborhood encompasses a combination of hotels, restaurants, residential high rises, universities, medical facilities and cultural venues making Streeterville a premier Chicago address. This area is also the home of Northwestern University’s Feinberg School of Medicine, which is nearby to several closely affiliated hospitals including Northwestern Memorial, Lurie Children’s Hospital of Chicago, and Prentice Women’s Hospital at Northwestern Medicine, amongst others.
SALE INFORMATION
BID DEADLINE
August 1, 2022
OPEN HOUSE DATES
For additional inspection times and dates, please call to schedule an appointment.
BID PROCEDURES
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 here.
BID SUBMISSION
Bids on the approved Purchase and Sale Agreement should be submitted in accordance with the Bid Procedures. For a bid to qualify, there are a number of additional items that need to be included. Buyers should review the Bid Procedures available for download here.
DATA ROOM
A Virtual Data Room has been assembled and contains important due diligence documents on the property. To gain access to these documents, buyers will need to complete an electronic confidentiality agreement here. Once completed, users will be given access to the data room.
CONTACT
Contact us today for more details or to schedule a private tour
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Hilco Real Estate
assists clients in monetizing their assets, selling more than 200 million square feet of retail, industrial and office properties. With over 35 years of combined experience working alongside both lenders and investors in the sale and acquisition of every type of asset, our advisory team is an industry leader. We maximize property values in tight timeframes via auctions, note/loan sales, brokerage or potential repurposing solutions.
Passive liquidation management can lead to missed opportunities for substantial recoveries, especially during rocky economic circumstances. Don’t allow real estate assets to become liabilities – we can expedite transactions offering stable footing in this environment and ensuring unparalleled recovery opportunities.
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