Located adjacent to Navy Pier, the building is the only skyscraper in the city east of Lake Shore Drive.

The architects for Lake Point Tower were John Heinrich and George Schipporeit, working under the firm name of Schipporeit and Heinrich; the two were students of Ludwig Mies van der Rohe, one of the best known architects of the Bauhaus movement and International Style school, who taught at the Illinois Institute of Technology in Chicago.

Lake Point Tower was completed in 1968, is approximately 645 feet (197 m) tall, and was the tallest apartment building in the world at that time.

[2] This building's tall, curved, three-wing 'Y' shape was an inspiration for the Burj Khalifa tower in Dubai, United Arab Emirates by Chicago-born architect Adrian Smith.

Its position between Lake Shore Drive and Navy Pier gives it unobstructed views in all directions that are protected by ordinances limiting construction on the city's waterfront.