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  3. Chicago, IL
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  5. Drake Tower
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Drake Tower

179 E Lake Shore Drive, Chicago, IL, 60611

YEAR BUILT

1928

# STORIES

30

# TOTAL UNITS

77

UNIT SIZE RANGE

4,915-5,015 sqft

Description

Drake Tower, located at 179 E Lake Shore Drive in Chicago, stands tall with its 30 stories. This high-rise building was built in 1928 and contains 77 units. The layout offers varied options from one to five bedrooms, making it suitable for different lifestyles. Unit sizes in Drake Tower fall between 4,915 and 5,015 square feet. Prices range from $2,850,000 to $4,500,000. The average price per square foot is $347 based on sales from the last year. Recently, the average closed price was around $487,500, indicating strong interest in the building. With an average of 167 days on the market, potential buyers have time to evaluate options. This timeframe allows for thoughtful decision-making in a competitive environment. Location plays a key role as well, with easy access to surrounding amenities and neighborhoods. Residents can enjoy a variety of services and shared spaces. Amenities include valet services, a business center, and an exercise room. There is also a sundeck that offers lovely views of the nearby water. Dining options nearby include The Rosebud Steakhouse, Mirai Sushi Gold Coast, and Levy Restaurants. These establishments contribute to the vibrant atmosphere in the neighborhood. The location is convenient for both leisure and dining experiences. Drake Tower offers an appealing lifestyle in a distinguished setting. Its tall structure provides breathtaking views, and each unit offers spacious living. With a blend of comfort and elegance, this building addresses the needs of different buyers looking to settle in a prime area.

Building ImageMLS ID #12311938
Building ImageMLS ID #12269696
Building Image
Building ImageView Listing

Drake Tower

179 E Lake Shore Drive, Chicago, IL, 60611

YEAR BUILT

1928

# STORIES

30

# TOTAL UNITS

77

UNIT SIZE RANGE

4,915-5,015 sqft

Description

Drake Tower, located at 179 E Lake Shore Drive in Chicago, stands tall with its 30 stories. This high-rise building was built in 1928 and contains 77 units. The layout offers varied options from one to five bedrooms, making it suitable for different lifestyles. Unit sizes in Drake Tower fall between 4,915 and 5,015 square feet. Prices range from $2,850,000 to $4,500,000. The average price per square foot is $347 based on sales from the last year. Recently, the average closed price was around $487,500, indicating strong interest in the building. With an average of 167 days on the market, potential buyers have time to evaluate options. This timeframe allows for thoughtful decision-making in a competitive environment. Location plays a key role as well, with easy access to surrounding amenities and neighborhoods. Residents can enjoy a variety of services and shared spaces. Amenities include valet services, a business center, and an exercise room. There is also a sundeck that offers lovely views of the nearby water. Dining options nearby include The Rosebud Steakhouse, Mirai Sushi Gold Coast, and Levy Restaurants. These establishments contribute to the vibrant atmosphere in the neighborhood. The location is convenient for both leisure and dining experiences. Drake Tower offers an appealing lifestyle in a distinguished setting. Its tall structure provides breathtaking views, and each unit offers spacious living. With a blend of comfort and elegance, this building addresses the needs of different buyers looking to settle in a prime area.

Next

Description

Drake Tower, located at 179 E Lake Shore Drive in Chicago, stands tall with its 30 stories. This high-rise building was built in 1928 and contains 77 units. The layout offers varied options from one to five bedrooms, making it suitable for different lifestyles. Unit sizes in Drake Tower fall between 4,915 and 5,015 square feet. Prices range from $2,850,000 to $4,500,000. The average price per square foot is $347 based on sales from the last year. Recently, the average closed price was around $487,500, indicating strong interest in the building. With an average of 167 days on the market, potential buyers have time to evaluate options. This timeframe allows for thoughtful decision-making in a competitive environment. Location plays a key role as well, with easy access to surrounding amenities and neighborhoods. Residents can enjoy a variety of services and shared spaces. Amenities include valet services, a business center, and an exercise room. There is also a sundeck that offers lovely views of the nearby water. Dining options nearby include The Rosebud Steakhouse, Mirai Sushi Gold Coast, and Levy Restaurants. These establishments contribute to the vibrant atmosphere in the neighborhood. The location is convenient for both leisure and dining experiences. Drake Tower offers an appealing lifestyle in a distinguished setting. Its tall structure provides breathtaking views, and each unit offers spacious living. With a blend of comfort and elegance, this building addresses the needs of different buyers looking to settle in a prime area.

Drake Tower Market Stats Last 12 months

Avg. Listed Price$483,725($367/Sqft.)
Avg. Sale Price$487,500($347/Sqft.)
Year over year list priceDown Arrow11.41%
Year over year sale priceUp Arrow 25.24%
Total Listings4 Listed
Total sold4 Sold
Average Days on Market167 days
Average HOA fees per sqft$1 /monthly
Next

Market Stats

Year over year list priceDown Arrow11.41%
Year over year sale priceUp Arrow25.24%
Total Listings4 Listed
Total sold4 Sold
Average Days on Market167 days
Average HOA fees per sqft$1 /monthly

Glen Gardens Estate Availability & Demand

Unit Availability

Low
High availability buildings list units frequently.

Unit Availability helps to understand how often units in a particular building are listed for sale as compared with the neighborhood average. Units are rarely listed in buildings with low availability.

Unit Demand

Low
Units in high-demand buildings sell quicker.

Unit Demand is a measure of quickly units in a particular building sell as compared with other buildings in the neighborhood. Units in high-demand buildings sell more quickly.

For Sale 0 For Sale

Drake Tower Inventory & Sale History

UnitSize (sqft)BedsBathsDays On MarketDateStatusPrice
Unit 15E15E35304512017-04-20
MLS#: 09600598 		Closed$2,200,000
Unit 29294965365682013-10-31
MLS#: 08039938 		Closed$4,500,000
Unit 20W20W3560233572012-12-03
MLS#: 07958635 		Closed$2,850,000
Unit 15E
15E

4 Beds

5 Baths

3530 sqft

DateStatusPrice
2017-04-20Closed$2,200,000
MLS#: 09600598
Days On Market1
Unit 20W
20W

2 Beds

3 Baths

3560 sqft

DateStatusPrice
2012-12-03Closed$2,850,000
MLS#: 07958635
Days On Market357
Unit 29
29

3 Beds

6 Baths

4965 sqft

DateStatusPrice
2013-10-31Closed$4,500,000
MLS#: 08039938
Days On Market568
View Complete Unit Listing HistorySource By: MRED

Amenities

What makes life at Drake Tower special? Let’s start with the impressive array of amenities! Imagine getting fit in a fully equipped exercise room or enjoying the stunning views from the sundeck. For those who work from home or require a space for meetings, the business center is readily available, ensuring you have everything you need right at your fingertips. There’s also a bike room with access to nearby bike trails—an excellent feature for cycling enthusiasts! Additionally, conveniences such as valet service, elevators, and a receiving room add to the ease of day-to-day life.

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Amenities Description

What makes life at Drake Tower special? Let’s start with the impressive array of amenities! Imagine getting fit in a fully equipped exercise room or enjoying the stunning views from the sundeck. For those who work from home or require a space for meetings, the business center is readily available, ensuring you have everything you need right at your fingertips. There’s also a bike room with access to nearby bike trails—an excellent feature for cycling enthusiasts! Additionally, conveniences such as valet service, elevators, and a receiving room add to the ease of day-to-day life.

Parking
Parking
Locker
Locker
Concierge
Concierge
Elevator(s)
Elevator(s)
Check Icon
Central AC
Central AC
Pool
Pool
Fitness Center
Fitness Center
Check Icon
Visitors Parking
Visitors Parking
Next

Amenities

Water View

Water View

Elevator(s)

Elevator(s)

Exercise Room

Exercise Room

Door Person

Door Person

Security Door Lock(s)

Security Door Lock(s)

Coin Laundry

Coin Laundry

Sundeck

Sundeck

Patio

Patio

Receiving Room

Receiving Room

Bike Room/Bike Trails

Bike Room/Bike Trails

Business Center

Business Center

Storage

Storage

Service Elevator(s)

Service Elevator(s)

Valet

Valet

Policies

When it comes to making Drake Tower your home, the policies are quite welcoming! Whether you have a furry friend or are considering adding one, both cats and dogs are allowed, which is a perk in the pet-loving city of Chicago! It's worth mentioning that there are some size limits, making it ideal for those looking for a cozy lifestyle rather than something sprawling.

Next

Amenities Description

When it comes to making Drake Tower your home, the policies are quite welcoming! Whether you have a furry friend or are considering adding one, both cats and dogs are allowed, which is a perk in the pet-loving city of Chicago! It's worth mentioning that there are some size limits, making it ideal for those looking for a cozy lifestyle rather than something sprawling.

Pet Allowed
Check
Pet Allowed
BBQ Permitted
BBQ Permitted
Sublet Allowed
Sublet Allowed
Short-term Rental Allowed
Short-term Rental Allowed

Compare with Buildings in the Neighbourhood (Last 12 Months)

Compare building's average price/sq. ft. and HOA fees/sq. ft. to buildings nearby

Building NameAvg price per square footAVG HOA FEE per square foot (Monthly)
Drake Tower$347/sqft.$1 /sqft.
179 E Lake Shore Dr$347/sqft.$1 /sqft.
189 E Lake Shore Dr$395/sqft.$1 /sqft.
190 E Walton Pl$402/sqft.$2 /sqft.
190 E Walton Street$402/sqft.$2 /sqft.
199 E Lake Shore Drive$667/sqft.$1 /sqft.

Nearby Schools

Discover top-rated schools located close to Drake Tower.

Ogden Elementary School

D+
Public|Grades KG–8
24 W Walton St|0.44 miles away

Salazar Elementary Bilingual Center

C-
Public|Grades PK–8
160 W Wendell St|0.78 miles away

Cornerstone Academy

--
Private|Grades 9–12
1111 N Wells St St...|0.81 miles away

Payton College Preparatory High School

A+
Public|Grades 9–12
1034 N Wells St|0.87 miles away

Latin School of Chicago Lower

--
Private|Grades PK–12
1531 N Dearborn Pk...|1.04 miles away

Immaculate Conception School

--
Private|Grades PK–8
363 W Hill St|1.07 miles away
Next

Schools

Ogden Elementary School

D+
Public|Grades KG–8
24 W Walton St|Less than 1 Mile Away

Salazar Elementary Bilingual Center

C-
Public|Grades PK–8
160 W Wendell St|Less than 1 Mile Away

Cornerstone Academy

--
Private|Grades 9–12
1111 N Wells St St...|Less than 1 Mile Away

Payton College Preparatory High School

A+
Public|Grades 9–12
1034 N Wells St|Less than 1 Mile Away

Latin School of Chicago Lower

--
Private|Grades PK–12
1531 N Dearborn Pk...|1.04 Miles Away

Immaculate Conception School

--
Private|Grades PK–8
363 W Hill St|1.07 Miles Away

Franklin Elementary Fine Arts Center

C
Public|Grades KG–8
225 W Evergreen Av...|1.07 Miles Away

Catherine Cook School

--
Private|Grades PK–8
226 W Schiller St|1.13 Miles Away

Lincoln Park Preschool and Kindergarten

--
Private|Grades PK–KG
108 W Germania Pl|1.13 Miles Away

Gems World Academy Chicago

--
Private|Grades PK–11
350 E South Water ...|1.34 Miles Away

Manierre Elementary School

F
Public|Grades PK–8
1420 N Hudson Ave|1.39 Miles Away

Skinner North Elementary School

A
Public|Grades KG–8
640 W Scott St|1.57 Miles Away

Lasalle Elementary Language Academy

B+
Public|Grades KG–8
1734 N Orleans St|1.61 Miles Away

Skinner Elementary School

A
Public|Grades PK–5
111 S Throop St|1.68 Miles Away

Cics - Quest North Campus

F
Public|Grades 9–12
1443 N Ogden Ave|1.69 Miles Away

Yccs-Innovations of Arts Integr High School

--
Public|Grades 9–12
17 N State St|1.69 Miles Away

Noble St Charter-the Noble Academy

A
Public|Grades 9–12
1443 N Ogden Ave|1.70 Miles Away

Noble St Charter-Muchin College Preparatory

A+
Public|Grades 9–12
1 N State St|1.72 Miles Away

Jenner Elementary Academy of the Arts

--
Public|Grades PK–8
|1.74 Miles Away

Intrinsic 2 Charter High School

--
Public|Grades 9–12
79 W Monroe St Ste...|1.94 Miles Away

Gce Lab School

--
Private|Grades 9–12
1535 N Dayton St|1.99 Miles Away

Fusion Academy Lp: Chicago- Lincoln Park

--
Private|Grades 6–12
1440 N Dayton St S...|2.00 Miles Away

Newberry Elementary Math & Science Academy

B-
Public|Grades PK–8
700 W Willow St|2.06 Miles Away

Urban Preparatory West Charter School

--
Public|Grades 9–12
425 S Wabash Ave|2.26 Miles Away

Lincoln Park High School

B+
Public|Grades 9–12
2001 N Orchard St|2.34 Miles Away

Frances Xavier Warde School

--
Private|Grades PK–8
120 S Desplaines S...|2.43 Miles Away

Jones College Preparatory High School

A
Public|Grades 9–12
700 S State St|2.55 Miles Away

Ogden Intermediate High School

A
Public|Grades 9–12
1250 W Erie St|2.55 Miles Away

St James Lutheran School

--
Private|Grades PK–8
2101 N Fremont St|2.66 Miles Away

Lincoln Elementary School

A+
Public|Grades KG–8
615 W Kemper Pl|2.68 Miles Away

Transit

Experience convenience and connectivity with premium transit options just moments away.

Chestnut & Mies Van Der Rohe

0.2 miles away|4 min walk

Chestnut & Lake Shore Drive

0.36 miles away|7 min walk

Chicago & Michigan

0.37 miles away|8 min walk

Chicago & Fairbanks

0.39 miles away|8 min walk

Chicago & Clark

0.68 miles away|14 min walk

Chicago & LaSalle

0.79 miles away|16 min walk
Next

Transit

Chestnut & Mies Van Der Rohe

0.2 miles away|4 min walk

Chestnut & Lake Shore Drive

0.36 miles away|7 min walk

Chicago & Michigan

0.37 miles away|8 min walk

Chicago & Fairbanks

0.39 miles away|8 min walk

Chicago & Clark

0.68 miles away|14 min walk

Chicago & LaSalle

0.79 miles away|16 min walk

Chicago & Franklin (Brown line)

0.96 miles away|19 min walk

311 W Division

0.97 miles away|19 min walk

Chicago-Brown

0.98 miles away|19 min walk

Chicago (Brown/Purple)

0.98 miles away|19 min walk

300 W Division

1.01 miles away|20 min walk

Chicago & Hudson

1.24 miles away|24 min walk

321 N LaSalle

1.3 miles away|25 min walk

320 N LaSalle

1.32 miles away|26 min walk

Chicago & Larrabee

1.43 miles away|28 min walk

AM Michigan & Randolph (Chicago)

1.49 miles away|29 min walk

530 W Grand

1.63 miles away|32 min walk

700 W Chicago

1.67 miles away|32 min walk

Chicago & Halsted

1.75 miles away|34 min walk

Armitage & Clark

1.9 miles away|37 min walk

Canal & Randolph

1.91 miles away|37 min walk

Adams & Wabash

1.97 miles away|38 min walk

Adams/Wabash

1.97 miles away|38 min walk

Canal & Randolph/Washington

1.98 miles away|38 min walk

Armitage & Lincoln/Sedgwick

1.99 miles away|39 min walk

Adams & State

1.99 miles away|39 min walk

Adams & Clark

2.05 miles away|40 min walk

1700 N Halsted

2.06 miles away|40 min walk

Canal & Madison

2.08 miles away|40 min walk

Armitage & Cleveland

2.08 miles away|40 min walk

Adams & Wells

2.12 miles away|41 min walk

Armitage & Larrabee

2.19 miles away|42 min walk

Adams & S. Wacker

2.19 miles away|42 min walk

350 S. Clark Street (Chicago)

2.23 miles away|43 min walk

1900 N Halsted

2.28 miles away|44 min walk

Adams & Canal

2.29 miles away|44 min walk

Chicago (Blue)

2.29 miles away|44 min walk

Chicago-Blue

2.29 miles away|44 min walk

Armitage & Orchard

2.3 miles away|45 min walk

333 S Franklin Street (Chicago)

2.35 miles away|45 min walk

Armitage & Halsted

2.42 miles away|47 min walk

Armitage & Fremont

2.54 miles away|49 min walk

Balbo & Columbus

2.54 miles away|49 min walk

Balbo & Michigan

2.54 miles away|49 min walk

Balbo & State

2.57 miles away|50 min walk

Chicago & Elizabeth

2.58 miles away|50 min walk

Cannon & Nature Museum/Fullerton

2.6 miles away|50 min walk

Armitage Station (Brown Line)

2.63 miles away|51 min walk

Armitage

2.64 miles away|51 min walk

Armitage (Brown/Purple)

2.64 miles away|51 min walk

The Neighbourhood: Drake Tower

Streeterville, located in the heart of Chicago, is a vibrant neighborhood known for its modern skyscrapers and stunning lakefront views. The area boasts an array of attractions, including Navy Pier and the Museum of Contemporary Art. Fine dining and luxury shopping are abundant along the Magnificent Mile, offering a dynamic urban lifestyle. Residents enjoy easy access to Lake Michigan's beautiful beaches and waterfront parks. Commuting is seamless, with excellent public transportation links and close proximity to major expressways.

Next

Neighbourhood Description

Streeterville, located in the heart of Chicago, is a vibrant neighborhood known for its modern skyscrapers and stunning lakefront views. The area boasts an array of attractions, including Navy Pier and the Museum of Contemporary Art. Fine dining and luxury shopping are abundant along the Magnificent Mile, offering a dynamic urban lifestyle. Residents enjoy easy access to Lake Michigan's beautiful beaches and waterfront parks. Commuting is seamless, with excellent public transportation links and close proximity to major expressways.

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Drake Tower Demographics

Age Demographics

0–14 Years

5.04%

15–29 Years

33.35%

30–44 Years

25.11%

45–59 Years

14.54%

60+ Years

21.95%

Commute

23.24%

Transit

28.24%

Walk

21.82%

Drive

1.95%

Bike

Housing Ownership

38.42%

Owner Occupied

61.58%

Rental Units

Household Types

Single Family
6.58%
Multi Family
0.46%
Single Person
59.3%
Multi Person
40.7%

Average Income

Household:$11,561,187.39 /yr

Individual:$11,383,756.53 /yr

Education

Bachelors Degree43.23%
High School College4.27%
Diploma2.1%
Post Graduate41.84%
Others8.55%
Next

Education

Diploma2.1%
Post Graduate41.84%
Others8.55%
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    Drake Tower
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