First-Floor Retail and Office
For Lease
$40 SF/Yr
505 N Lake Shore Drive #101, Chicago, IL 60611
Ground-level suite in Lake Point Tower beside Navy Pier, with podium parking designed for roughly 700 cars.
Space SizeContact for details
Days on Market89
Property Features for 505 N Lake Shore Drive #101
General Information
Standard status
Active
Total Parking Spaces
700
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$63,543
Building Details
Year Built
1969
Stories
1
Listing Agency:
Ellsbury Group LLC
(219) 200-5133
Listed By:
Jeremy Slowinski · License #RB16000601
(219) 200-5133
Source:
Perillorealestategroup
Added: May 28
Changed: Aug 23
Last Checked: Aug 23 at 7:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ellsbury Group LLC
Investment Insights
Based on property information with market context.
This first-floor commercial retail suite is located in Lake Point Tower, a well-known high-rise condo building on a downtown corner. The space is positioned for street-level storefront presentation and is offered as a flexible option for retail and customer-facing concepts.
The location places the suite directly adjacent to Navy Pier, one of Chicago’s major visitor destinations. Lake Point Tower’s podium was designed to accommodate roughly 700 cars, supporting convenient parking access for guests and customers.
The configuration is described as well suited for a range of uses, including retail, cafe or quick-service food, personal services such as salon, spa, or fitness, boutique offerings, and professional or medical office use. For service-oriented businesses, the adjacency to a steady flow of tourists and lakefront visitors is intended to pair well with customers coming from the residential tower environment. Overall, this is a ground-level commercial opportunity in a landmark-style building with strong day-to-day customer draw from its Navy Pier proximity and on-site podium parking.
The location places the suite directly adjacent to Navy Pier, one of Chicago’s major visitor destinations. Lake Point Tower’s podium was designed to accommodate roughly 700 cars, supporting convenient parking access for guests and customers.
The configuration is described as well suited for a range of uses, including retail, cafe or quick-service food, personal services such as salon, spa, or fitness, boutique offerings, and professional or medical office use. For service-oriented businesses, the adjacency to a steady flow of tourists and lakefront visitors is intended to pair well with customers coming from the residential tower environment. Overall, this is a ground-level commercial opportunity in a landmark-style building with strong day-to-day customer draw from its Navy Pier proximity and on-site podium parking.
Key Highlights
- First‑floor ground‑level commercial retail space in Lake Point Tower (built 1969)
- Located directly adjacent to Navy Pier, a major Chicago visitor destination
- Ground‑floor suite in the Lake Point Tower podium next to the building’s retail space
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$6.00 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
18,387
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 81%
Dining 18%
Shops & Services 2%
Sheraton Grand Chicago Riverwalk
Hotels & Casinos
28,646 visits/mo
0.3 miles
Gyu-Kaku Japanese BBQ
Dining
6,302 visits/mo
0.5 miles
MB Financial Bank
Shops & Services
624 visits/mo
0.4 miles
Demographics for 60611, IL
38,456
Population
28,239
Households
1.4
Avg Household Size
39
Median Age
88%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
48,070
Density / Sq Mi
$124,621
Median Household Income
$92,917
Median Earnings
$2,416
Median Rent
$608,200
Median Home Value
Market
Lease Benchmarks for Chicago, IL
$26.81 /SF/Yr
Avg Asking Price
$8–$133 /SF/Yr
Price Range
3,584 SF
Avg Space Size
This space is priced 49% above the average of $26.81 /SF/Yr.
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-level suite in Lake Point Tower beside Navy Pier, with podium parking designed for roughly 700 cars.
Where is this storefront property located?
The property is located at 505 N Lake Shore Drive #101 Chicago, IL.
What is the lease rate?
The lease rate is $40 SF/Yr.
What are key features of this property?
This property features: First‑floor ground‑level commercial retail space in Lake Point Tower (built 1969); Located directly adjacent to Navy Pier, a major Chicago visitor destination; Ground‑floor suite in the Lake Point Tower podium next to the building’s retail space
