Home / Near North / Lake Point Tower

Near North · building profile

Lake Point Tower

505 N Lake Shore Dr

Condominium 70 stories853 unitsBuilt 1970

Over the last 24 months, sales here closed at a median $432 per sq ft, 13% above the Near North median ($383). HOA dues ran $0.79 per sq ft a month, 10% below the Near North median ($0.88). Units leased in a median 19 days (neighborhood: 14 days).

See it on Google Maps ↗ Street View ↗ Google Earth 3D ↗

The numbers · Oct 2024 – Sep 2026

What units sell and rent for

Medians of this building's closed MLS sales and leases. The range is a 90% interval; a figure is shown only when the building has enough records.

Price per sq ft

$432

90% range $421–$446 · 57 sales

Median monthly rent

$3,500

90% range $3,200–$3,950 · 70 leases

HOA dues

$0.79/ sq ft / mo

90% range $0.73–$0.82 · 57 sales

Activity · 24 months

58sales

70 leases

Leases: typical time to lease 19 days
Turnover 3.4% per year of units

Building facts · Oct 2024 – Sep 2026

What listings say about the building

From this building's MLS sale and lease listings; a fact appears only when most listings agree. Rules change, and the association's documents are the authority.

Pets: Cats and dogs allowed; listings often note limits on number or weight (weight limit typically 55 lb) · 95 listings
Owners may lease: Yes · 38 listings
Parking: Usually not included in the sale price (72 listings); deeded spaces typically $78,000 (8 listings); monthly parking fee typically $290 (40 listings)
Dues usually include: Water, TV/cable, internet, Wi-Fi, doorman, exercise facilities, pool; plus insurance, exterior maintenance, scavenger, snow removal, lawn care · 71 listings
Amenities: Door staff, indoor pool, elevator, outdoor pool, on-site manager / engineer, sauna, receiving room, exercise room, health club, bike room, service elevator, coin laundry, valet / dry cleaner, storage, party room, steam room, restaurant, business center, sundeck · 131 listings
Management: On-site manager · 53 listings

Getting around

Trains and buses nearby

The closest CTA 'L' stations and the bus routes a few minutes' walk away. Walking times are estimates from straight-line distance.

'L' stations

Grand Red
about 21 min walk · 1.0 mi · step-free access
Chicago Red
about 23 min walk · 1.1 mi · step-free access
State/Lake Brown, Green, Orange, Purple, Pink
about 23 min walk · 1.1 mi

Bus routes within about a 6-minute walk

2296566124

Transit data: Chicago Transit Authority, via the City of Chicago Data Portal ('L' stops; bus stops as of 2022). Not affiliated with or endorsed by CTA. Check transitchicago.com for current routes and service.

Unit types

Unit types observed in historical MLS records

5Studiolatest Apr 2026

601 bedlatest Sep 2026

502 bedlatest Sep 2026

143+ bedlatest Sep 2026

28combined residencestwo units joined

MLS records from 2024 to Sep 2026 identify 157 distinct units with bedroom information; each unit is counted once. This is not a verified breakdown of the building's 853 units on Assessor records: units that never appeared in the MLS are not shown, and a unit's layout may have changed since its last record. Not enough evidence yet to estimate the full unit mix.

Type	Median sale price	Median rent	Sales · leases, 24 mo	Near North median rent	Near North price / sq ft
Studio	too few	too few	1 · 4	$1,900	$335
1 bed	$458,500	$3,000	21 · 36	$2,500	$364
2 bed	$679,500	$4,125	26 · 22	$3,800	$392
3+ bed	$995,000	too few	11 · 8	$6,925	$480

This building's medians are shown only with at least 8 records of that type in 24 months. The Near North columns are neighborhood medians for the same unit type, for reference — not figures for this building.

Stack plan

Every line, every floor

One cell per unit on Cook County Assessor records, by unit line (columns) and floor (rows). Column heads: the line's typical size and the direction its listings usually face.

Exposure

Studio

1 bed

2 bed

3+ bed

Mixed or not enough records

Faces east (lake side)

Faces west (city side)

Faces north or south

Mixed / not recorded

Unit types are not shown: not enough evidence yet for this building. Exposure is the direction most of a line's MLS listings report. In this building each floor up adds about +0.25% to price per sq ft within the same line. 6 units recorded as combined residences (two units joined) are not drawn. Line-by-line price premiums are not shown yet: too few sales per line.

Owning it

What a unit costs to hold, rent against price, and higher floors

Estimates from this building's own sales and leases.

A typical unit, every month

Type	Typical size	HOA dues / mo	Property tax / yr	Dues + tax / mo
1 bed	1,070 sq ft	$788	$7,390	$1,400
2 bed	1,530 sq ft	$1,285	$10,560	$2,160
3+ bed	2,090 sq ft	—	$14,430	—

Typical size: the type's median price over its price per sq ft (the building's, where the type has too few records), so an estimate. Dues: the type's median in this building's sales. Property tax: this building's tax rate per sq ft for units without exemptions, times the size; owner-occupants with a homeowner exemption usually pay less. Mortgage, insurance and utilities are not included. Try your own numbers in the calculator below.

Ownership economics

7.7%

gross rent ÷ price

4.0%

after HOA and property tax

Estimates from this building's median rents and prices by unit size; property tax partly estimated from same-building units without exemptions; an older tax year was used. Vacancy, maintenance, insurance and financing are not deducted (with 5% vacancy: 3.6%).

Higher floors

+0.25%

price per sq ft, per floor up

Same unit line, different floors (56 sales; 90% range +0.09%–+0.38%).

Calculators

Run the numbers for a unit here

Monthly cost to own against renting, or yields and cash flow if you rent it out. Start from this building's figures and change anything.

Unit type

Price Down payment, % Interest rate, % Loan term, years HOA dues, per month Property tax, per year Insurance (HO-6), per year Monthly rent Vacancy, % Repairs and other costs, per year Closing costs, % of price

Starting values are this building's medians for the unit type, where enough records exist; property tax is estimated from the building's tax per sq ft, only where enough units without exemptions agree. Change any number. An illustration only: not a loan offer, an appraisal, or tax or investment advice. Confirm figures with your lender, insurer and tax advisor. Nothing you type leaves your browser.

Before you commit

Questions worth asking about any condo building

Standard questions for any building, not findings about this one.

What are the current monthly dues, and what do they include?
What is the reserve fund balance, and when was the last reserve study?
Has any special assessment been approved, proposed or discussed, and is any balance outstanding?
What are the leasing rules (minimum term, caps, approval)?
What does the master insurance policy cover, and what is the deductible?
Is the association a party to any litigation?
Request the association's disclosure package under Section 22.1 of the Illinois Condominium Property Act.

Nearby

Other towers close by, and the full review

Nearby towers

474 N Lake Shore Dr193 m away · 61 stories · 500 units $362/ sq ft 530 N Lake Shore Dr199 m away · 29 stories · 188 units $433/ sq ft 540 N Lake Shore Dr223 m away · 7 stories · 142 units — 600 N Lake Shore Dr258 m away · 46 stories · 400 units $504/ sq ft

All Near North towers on the map →

Thinking about Lake Point Tower?

Get the full building review

Unit lines, floor-by-floor pricing, listing history patterns and the questions specific to this building — walked through with you, not a form letter.

John LiMark Allen Realty ERA PoweredBroker · Chicago, IL · speaks English and Chinese

Email John Call or text

Disclaimer: For information only · not guaranteed · not an appraisal or advice. Talk to a licensed broker before any transaction. Full disclaimer

Report BP-2026-09-30-B00203-08c22a · data through September 30, 2026 · Oct 2024 – Sep 2026. Medians of MLS records; MLS does not capture every transaction. Not an appraisal or valuation of any unit. How we measure.

Lake Point Tower

What units sell and rent for

What listings say about the building

Trains and buses nearby

Unit types observed in historical MLS records

Every line, every floor

What a unit costs to hold, rent against price, and higher floors

A typical unit, every month

Ownership economics

Higher floors

Against the other Near North towers

Price per sq ft

HOA dues per sq ft per month

Run the numbers for a unit here

Questions worth asking about any condo building

Other towers close by, and the full review

Nearby towers

Get the full building review

Lake Point Tower

What units sell and rent for

What listings say about the building

Trains and buses nearby

Unit types observed in historical MLS records

Every line, every floor

What a unit costs to hold, rent against price, and higher floors

A typical unit, every month

Ownership economics

Higher floors

Against the other Near North towers

Price per sq ft

HOA dues per sq ft per month

Run the numbers for a unit here

Questions worth asking about any condo building

Other towers close by, and the full review

Nearby towers

Get the full building review

One email a month: what changed, building by building.