Frequently Asked Questions

What makes 850 Lake Shore Drive different from other Chicago retirement communities?

850 Lake Shore Drive melds the beauty and architectural significance of an early 20th century building with contemporary floor plans and finishes, along with the latest technology and building systems designed especially for those 62 years of age and older. Because we are renovating the existing building into an expansive new luxury senior living community, yet at the same time maintaining the existing boutique ambience, we offer a distinctive setting for our residents. With an exclusive offering of only 145 independent living apartment homes and 30 assisted living apartment homes, you will be surrounded by high-quality, personalized service from an attentive team of staff members on a daily basis.

What sort of fees does 850 Lake Shore Drive charge?

In today's world of senior living retirement communities, there are many options that allow individuals to plan for their future care needs. At 850, residents pay a one-time membership fee starting at $55,000, along with monthly fees to cover the cost of services and care. So, 850 earns the membership fee over a 5-year period (2%/month). If you leave 850 before 5 years, the unearned portion will be returned. If you need an increased level of care or assistance, such as Assisted Living, you pay for that care on a daily or monthly basis through an appropriate insurance policy or through personal finances. Essentially, there is no 'pre-payment' for care—as found in Life Care or 'type A' retirement communities—thus, if you do not need the care, you are not paying for the care, and your monthly fee does not subsidize the care others receive. In addition, you will not be tying up $500,000 of your assets in an entrance fee and assuming the risk that that entrance fee will be repaid to you or your estate.

If I do need additional care, how will it be provided?

Just as there are many types of retirement communities, there are many forms of care that an individual may need. We strongly believe that 'one size does not fit all' and that an important aspect of providing quality service to our residents is the provision of the services by a 'Health and Wellness Team.' This supportive team can assess and address a resident's specific medical and functional needs, serve as a liaison with health professionals as authorized by a resident, plan for home health care or out-of-home care as required, and assist a resident (or a family as appropriate) in navigating the myriad of issues related to health care in the 21st century. Should you need Assisted Living services, 850's licensed Assisted Living apartments will be available to 850 residents on a priority basis. If your needs require long-term care or hospital care, the Health and Wellness Team will help you access that care with one of the nearby providers with whom 850 LSD maintains a referral relationship. The consultation services of the Health and Wellness Team will be provided to all who call 850 Lake Shore Drive their home.

How much does living at 850 Lake Shore Drive cost?

850 Lake Shore Drive has a one-time membership fee and residents pay an additional monthly service fee. This is not considered a real estate transaction where a resident or family owns a 'title' to a unit. The entrance fee is a one-time fee based on the size and location of the Retirement Community in Chicago, as well as the number of occupants.

The monthly service fee covers utilities, real estate taxes and insurance, and a variety of services, amenities, activities and meals offered at the community. Examples of the services included in the basic Independent Living service program are: continental breakfast plus a $300 monthly meal credit, weekly housekeeping and flat linen service, concierge service, and 24-hour security. Additional services will be available on an à la carte basis. These services may include Assisted Living services, spa and beauty services, additional meals, cocktail service and personal training appointments.

Regular monthly service fees include 30 days of Assisted Living care in one of 850's dedicated Assisted Living apartment homes and 10 days of skilled nursing care provided at an area community offering skilled nursing services that 850 has entered into a transfer agreement with.

I live in a home right now that offers the services of a doorman and concierge. Why should I move?

850 Lake Shore Drive is much more than just a lovely urban home. It is an exclusive Retirement Community in Chicago, specifically designed for those age 62 and above who want a lifestyle befitting their needs and desires.

Not only is the interior of the building being redesigned to offer universal ease in living, but the service package is designed to allow a resident the ability to concentrate on the lifestyle they enjoy—gourmet meals on a daily basis, fitness and wellness programs, maintenance-free living, social and cultural offerings, and the knowledge that personal attention is available 24 hours a day in the event of an emergency. Families have peace of mind knowing their loved ones have the opportunity for social and recreational opportunities with others—instead of worrying about loneliness and depression.

850 Lake Shore Drive is much more than a place where people have lived for years. It is a place of energy, life, exciting opportunities, new friendships and support. It truly is the place for any active senior to proudly call "home."

I don't want to give up my pet, entertaining my friends or having my grandchildren overnight. Will I have to?

When you move into 850 Lake Shore Drive, it is your home. It is an exclusive senior living community designed so that you can get the most out of daily life, and continue to live the active lifestyle you are accustomed to.

Pets are allowed, as long as they are 25 pounds or less and the pet owner respects the rights of other individuals who live and work at 850.

Entertaining friends and family can be done with ease—in your fully-equipped kitchen, with the help of our culinary team's catering services, in our luxurious senior living community's elegantly appointed private dining room, or in the Lake Shore Room, 850's magnificently restored dining venue. Need help organizing a dinner with your lifelong personal caterer? Our culinary team and concierge will assist your connoisseur in making your event a memorable success!

Visitors are always welcome in your new home at 850 Lake Shore Drive. Many of the independent living apartment homes have second bedrooms or dens that could easily be made into a warm and inviting guestroom. Activities abound to keep friends or family entertained, be it a new release in the surround-sound theater, swimming or exercising in the Aquatic and Fitness Centers, a card game in the beautiful Lake Shore Club Room or a fascinating event Downtown Chicago scheduled by our concierge.

What if I move in to 850 Lake Shore Drive and decide it's not for me?

Although the most often heard comment from residents familiar with this type of exclusive retirement community in Chicago is "I wish I had moved in earlier," there may be residents who wish to leave our luxurious retirement community for a variety of reasons.

With a 30-day notice, a resident may terminate a residency agreement. This means that when a resident completely vacates a home and all furnishings have been moved, the monthly service fee will no longer be charged to the resident.