When Old Strata Is Good and Cool [Again]

Older high rise strata title buildings get a bad reputation … undeservedly, I think.

Conventional thinking is that older buildings have the following disadvantages.

• Outdated design and amenities

• There are more frequent and bigger repairs and maintenance

• They are less energy-efficient

• Lower safety and building code compliance levels

• Elevators are older and/or slower, plus there are fewer disability accessibility features

• Poorer sound insulation and more noise transmission

• Less Modern Technology

• Typically, a lower resale value

But, of course, most of these things are fixable. 

Plus, there are also many positives to older high rise buildings including.

• Architectural character and charm sometimes including history and historical significance

• Grander scale and spaciousness

• They’re often in established neighbourhoods

• Mature landscaping and outdoor spaces

• Solid construction that has survived-overcome any long past defects

• Lower prices than comparable new strata apartments

Here’s a great example from Chicago, Illinois.

It’s 860-880 Lake Shore Drive. A 238 apartment building from 1949 designed by Mies van der Rohe with city skyline and lake views, flexible floorplans that allow easy changes to suit occupants, a variety of common facilities, and 24 hour front door and carpark staffing. It has received many architectural awards and living there was described as:

“You don’t just look out the windows in the twin towers. You feel as if you are part of the panorama that sweeps out in any direction…. [I]t is an intimacy with the seascape of Lake Michigan, the continuously changing sky, the winding shoreline and the shadows and lights of the spires and jagged cliffs of Chicago’s skyline.”

And, it’s also a co-operative ownership structure and not a condominium, which is independently managed by a board of trustees.

Who wouldn’t love to live there?