400 East Randolph

400 East Randolph — formerly known as Outer Drive East — is one of the oldest high-rise condominiums in Chicago, completed in 1963. It predates the Lakeshore East master plan by nearly four decades, built during the era of the broader Illinois Center development when this stretch of the lakefront was being transformed from rail yards into urban real estate.

When it opened, 400 East Randolph was one of the largest apartment buildings in the world outside of New York City, with over 900 units. It offered a vision of urban living that was genuinely novel for Chicago at the time. Today, it stands as a piece of Chicago real estate history — and a significant value play.

The building is 60+ years old and it shows. The common areas are dated, the systems have been updated over the years but reflect the era, and the unit finishes in unrenov units are original. The price-per-square-foot is the lowest in the Lakeshore East area — significantly below the Magellan-era buildings. For buyers who want the location, the lake proximity, and the pedway access at the lowest possible entry price, it's a compelling option. For buyers who want new construction quality, it's not the right building.

Randolph Street puts you at the western edge of the Lakeshore East area, with pedway access to the Loop and easy walking distance to Millennium Park. The building predates the Lakeshore East park and master plan — it was here first, before the neighborhood around it was designed.