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Huge Drake Tower Unit w/ Challenging Decor Takes $1M Chop

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The Benjamin Marshall-designed Drake Tower, presiding over Oak Street Beach, has a penchant for full-floor units. Prices start high and skyrocket in the upper floors. This 29th floor, 4,965 square-foot co-op started at an optimistic $5.575M in April 2012, but 14 months of inaction has defeated efforts to hold fast to this ask. Early last week, the seller cut the list price all the way down to $4.5M. That's a good attention grabber (here we are, after all) but there's no telling whether the home has found a comfy plateau. Offering three beds and five baths, the place makes its case with large rooms, fireplaces, a paneled library, marble floors, and unobstructed lake and skyline views. It simultaneously hurts its case with putrid colors, heavy curtains, and carpeting. A monthly assessment of $7,382 is a bit of barrier, too.
·Listing: 179 E Lake Shore Drive #29 [Koenig & Strey]