450 E. WATERSIDE – LAKE SHORE EAST
450 E. Waterside, also known as “The Chandler” is located in Chicago’s Lake Shore East neighborhood. For those of you not familiar with this area, Lake Shore East is located on the south side of the River where the river meets Lake Shore drive. The Chandler is one of the newest buildings in the Lake Shore East neighborhood.
What I like about The Chandler 450 E. Waterside
The Chandler, located at 450 E. Waterside, was one of the last buildings completed by Magellan as condos in the Lake Shore East neighborhood. It is slightly more expensive than its sister building, the Regatta built one year prior. The majority of the units in the Chandler are upgraded with Snaidero Cabinetry and most have great views, at least for the time being. The building is situated on the far North East corner of Lake Shore East. This allows it to have prime views of the River, Navy Pier and both the North and South skyline of the city.
The building boasts a phenomenal indoor rooftop pool and sundecks on either side of the pool complete with an outdoor whirlpool. The sundeck makes for amazing Air & Water Show watching. The building has a fitness center and media room on the second floor as well as a party room off the lobby which opens out onto an outdoor deck with River and Navy Pier views.
Most of the floor plans in the building are very functional and make a good use of the space. There is very little wasted space in condos at the Chandler so 1000 square feet is a true 1000 square feet versus some buildings that have obnoxiously long hallways and “nooks” which eat up space. All units will have Hardwood Floors, Granite and SS Appliances. Most will have updated cabinetry and all units with the exception of a few will have a balcony.
What I don’t like about The Chandler
I love the building and the build quality. Some of the South Facing units, specifically the 04 tier will eventually have their view blocked when new buildings are built on the vacant lot directly to the South of The Chandler. There is some talk about a building going just East of the Chandler but I’m not sure if any of those claims can be substantiated at this time.
The building has a new rental cap. The specifics are a bit vague but it appears that new owners will not be allowed to rent their units until the rental percentage drops to around 30%?? Currently the building has roughly 44% tenant occupied units.
What do condos sell for in The Chandler?
One Bedrooms start around $310,000 in The Chandler and move up from there depending on floor height and view. Units facing North sell for a premium since these units have the protected and much preferred River view. These units tend to be larger. However, be warned that a couple tiers on lower floors facing North do not have balconies.
Two Bedrooms in The Chandler start in the $500’s but they are the smaller square footage Two Beds around 1100 to 1250square feet. Larger Two Bedrooms will start in the high $600’s and can exceed well over $750,000. The Chandler does have three bedroom units but expect to pay over a million for any 3 Bedroom with some going well over 2 million and others competing with some of the most expensive condos in the area.