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Lake Point Tower’s Ferrari garage shaves $500K off asking price

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The large climate-controlled underground garage is now seeking $1 million

Forget the man cave—this garage space underneath Lake Point Tower is the ultimate underground lair. What could be considered the ultimate luxury amenity, this bunker-like space was created by consolidating 12 individual parking stalls into a single 2,700-square-foot, climate-controlled room. And for at least the last several years, this garage space has been in the hands of a major Ferrari enthusiast who has stored a treasure trove of collectible cars and other Ferrari memorabilia in the space.

But despite its uniqueness and the relative rarity of private garages like this in downtown Chicago, this garage has spent a considerable amount of time languishing on the market. The garage listed with a large one-bedroom on the tower’s 67th floor back in 2013 asking $3.4 million, but later returned as its own listing in early 2015 seeking $1.5 million. The garage listed once again last October, asking the same $1.5 million price. However, it returns once again this week, but comes back with a big $500,000 price chop.

If you’re a wealthy, city-dwelling car enthusiast searching for the ultimate urban garage to store and admire your collection of rare sports cars, it doesn’t get much better than this sprawling 2,700-square-foot space buried inside of Lake Point Tower. It can now be had for $1 million.