For the collector whose toys have outgrown the toybox, this 2,700-square-foot garage in Lake Point Tower can hold up to 12 vehicles, complete with plenty of space to bask in their glory.
The D1 garage unit, now listed at $1.5 million, was cobbled together by the current owner from 12 parking spaces back in the late 1980s when the building went condo. The space includes a lounge area, a bar, and its own bathroom. It also features its own heating and air conditioning as well as a security system.
Decked out in Ferrari red, thanks to the seller’s love of that Italian sports car line, the lounging area features red chairs, a table, and a couch, while the bar is red with red-backed directors’ chairs—all furniture is included in the list price.
“There’s really nothing like it,” says Timothy Salm, senior vice president of sales with Jameson Sotheby’s International Realty, which is listing the property. “To recreate something like this these days is virtually impossible.”
The future owner need not live in the building, as there are no restrictions on who can own the space, says Salm. The current owner lived in the building before moving to California; his condo is on the market as well for $995,000, but each unit can be purchased separately.
The two properties were listed together for $3.4 million in 2013, with the garage listed separately for $2.1 million. The price dropped to $1.5 million at the end of that year, then was relisted at the same price in 2014 before being listed again this October.
“It’s a very niche kind of collector” who will want the space, says Salm, who adds there has been interest in it this time around. Presumably one with a lot of vintage cars to display.