Building at 2440 N. Lakeview Avenue in Chicago

This Chicago high-rise opened in 1927 as a semi-cooperative complex consisting of large units intended for families who were owners along with smaller rental units. Separate lobbies and elevators catered to each distinct group, dividing the building into two types of residences. Those who owned their units at 2440 N. Lakeview also owned a portion of the building and thus had a say in the overall management of the complex. Property owners also lived in larger units with more lavish amenities, including grand views of Chicago's parks and Lake Michigan. Today, the building operates as a 100% cooperative condominium complex.

Until the late nineteenth century, the overwhelming majority of multi-dwelling residences served those within the lower class. Workers, laborers, newly-arrived immigrants, and others lived in cramped, crowded buildings and apartments with little light, ventilation, or green space to enjoy. However, social attitudes changed by the turn of the twentieth century, so those with wealth not only accepted living in apartments but did so in complexes offering them amenities and luxuries, especially in the years following World War I. Early twentieth-century developers had to creatively market luxury apartments to counter the allure of living in lavish homes and mansions, notably as the suburbs began to materialize. So, in addition to promoting the luxuries offered at the apartment buildings, they touted the advantages and pleasures of living near Lake Michigan with its views and beaches, as well as Chicago's finest parks and recreational facilities, all while still being relatively close to downtown Chicago. 

2440 N. Lakeview Avenue emerged as one of several luxury apartment buildings built in the 1920s along North Lake Shore Drive and near Lincoln Park. Chicago's north side developed quickly in the 1920s after the opening of the Michigan Avenue Bridge. Those enjoying financial independence flocked to the city's north side as they had the means to escape the crowded downtown region; they could afford to take trains or buy automobiles and commute to work. Indeed, nearly forty high-rise (luxury) apartment buildings arose in the city during the 1920s, mainly on the north side. Many of the luxury apartment buildings functioned as cooperatives, where each member (resident) owns shares of stock in a corporation that holds title to the building and usually places a "blanket" mortgage on the entire property. The members elected a Board of Directors, who vote on matters related to the building's care and maintenance. At this time, investors embraced the idea of cooperatives because their exclusivity of ownership forbade anyone from selling or renting to "less desirable" occupants without the consent of the Board of Directors. 

2440 N. Lakeview differed slightly because it operated as a "semi-cooperative" in which the residents owned the larger units while smaller units operated as rentals. In fact, the majority of the units served renters, comprising 81 of the building's 107 units. The income garnered from the rental units went towards the building's operating expenses, allowing owners in the 26 remaining units to live rent-free. The sale units were much larger than the rentals and offered guests superior views because they faced the park and Lake Michigan. Designers placed two eight-room units per floor on floors five through sixteen and two duplex penthouses of eleven rooms on floors seventeen and eighteen. Sale units enjoyed numerous amenities such as wood-burning fireplaces, maids' rooms, lavish decor, and detailing. Unit owners enjoyed a separate entrance, lobby, and elevators than their rental counterparts.

"2440 North Lakeview Avenue, Chicago." Chicago Designslinger. February 21, 2015. https://chicagodesignslinger.blogspot.com/2015/02/2440-north-lakeview-avenue-chicago.html.

Burnham, Daniel H and Edward H. Bennett. Plan of Chicago. Chicago: The Commercial Club of Chicago, 1909.

Granacki, Victoria. "Registration Form: 2440 N. Lakeview Avenue." National Register of Historic Places. archives.gov. 2011. https://catalog.archives.gov/id/28892137.

McClendon, Dennis. "Chicago's Lakefront Landfill." The Electronic Encyclopedia of Chicago. 2005. http://www.encyclopedia.chicagohistory.org/pages/3713.html.

Stamper, John W. Chicago's North Michigan Avenue: Planning and Development, 1900-1930. Chicago: University of Chicago Press, 1991.