Totally Rehabbed 2/2 With City and Lake Views for $325,000: 4170 N. Marine Drive in Buena Park
This 2-bedroom in The Waterford at 4170 N. Marine Drive in the Buena Park neighborhood of Uptown came on the market in June 2015.
The Waterford was built in 1973 and is a full service building with a doorman and an indoor pool.
This unit was a 1970s delight when it was purchased in 2015, complete with a yellow stove and dishwasher in the kitchen and yellow and silver wallpaper in one of the bathrooms.
Go here to see the 1970s awesomeness.
But it’s been “totally rehabbed” and now has the dark wide plank floors throughout.
The kitchen has white cabinets, granite counter tops and stainless steel appliances.
The bathrooms now have contemporary finishes.
It has wall air conditioning and a washer/dryer in the unit.
Parking is rental in the building.
The listing says it has south and east views of the Lake and Wrigley Field.
Originally listed at $365,000, it has been reduced $40,000 to $325,000.
It was under contract once in 2015 but didn’t close.
With tight inventory and buyers wanting “new”, why isn’t this selling?
Mark Keppy at @Properties has the listing. See the pictures here.
Unit #11J: 2 bedrooms, 2 baths, 1350 square feet
- Sold in February 2015 for $233,000
- Originally listed in June 2015 for $365,000
- Reduced
- Under contract in November 2015
- Currently listed for $325,000
- Assessments of $668 a month (includes cable, pool, lawn care, scavenger, snow removal)
- Taxes of $4282
- No central air- wall units only
- In-unit washer/dryer
- Rental parking available in the building
- Bedroom #1: 11×18
- Bedroom #2: 11×13
- Office: 4×6
Wow the 70s version was something. I used to romanticize 70s, now I am glad I did not experience it 🙂
For our intrepid ABT Exec – Do any of the appliances look like gas?
I’m not seeing where one would pull a gas line for the new fireplace.
Other than that looks to be a nice place
Dont laugh, but the groove likes the before 70’s version waaaaay better.
the remodeled unit is nice and all, but it just looks like every other 2/2 in the city.
Yeah the linoleum in the 70’s kitchen would need to go but if the mustard matching appliances still worked, why not clean them up and keep them. In the age of stainless EVERYWHERE, you can be original. And yes the counter tops would need to go but replace them with butcher block to keep the vibe.
i actually like the yellow rainbow bathroom, change up the mirror, vanity and towel bars and you got a funky second bath.
I have a theory why it’s not selling: it’s the location. Let’s look at what’s not close by: natural food stores, boutiques, nice restaurants, specialty restaurants (like farm-to-table) , coffee shops, wine shops, sports bars, manicures/pedicures, gyms, yoga, facials, laundry/dry-cleaning, haircuts and pet services.
Other than that, it’s nice place with a nice view.
“Let’s look at what’s not close by: natural food stores, boutiques, nice restaurants, specialty restaurants (like farm-to-table) , coffee shops, wine shops, sports bars, manicures/pedicures, gyms, yoga, facials, laundry/dry-cleaning, haircuts and pet services.”
you have all of that and more at Broadway and/clark which is *close by* by CC by laws.
“I’m not seeing where one would pull a gas line for the new fireplace.”
there’s other options for a ventless fireplace other than gas
@Icarus, Clark Street is most definitely not close. That’s only “Uber” or “cab” close, not “walk around the corner” close.
Broadway is sorta close, but that section of Broadway, 4000-4300, is not packed with many of the kinds of places that I cited.
Another problem with this location is that if you open a window, all you are going to hear is the noise of traffic on Lake Shore Drive.
“Another problem with this location is that if you open a window, all you are going to hear is the noise of traffic on Lake Shore Drive”
still quieter than opening a window in river east/west or streeterville.
“I’m not seeing where one would pull a gas line for the new fireplace.”
maybe the dryer is gas, but I doubt it.
I agree with (big?) marco–probably an electric fireplace. My question then is? why bother?
Icky:
The corner of Clark and IPR is over a mile away. That is *not* close per CC bylaws; indeed it is basically 2x ‘far’.
Maybe you meant Sheridan? Not that it adds much bt IPR and Montrose.
I was thinking more of a biofuel fireplace. something like this???
http://www.ecosmartfire.com
Thanks for the link
Those are actually pretty cool for a non wood fireplace
“more of a biofuel fireplace”
Yeah, or that. Those are cool in lotsa applications.
Again, in a condo this size, what’s the point.
6 fuckin grand for one of those cube fireplaces? Jesus I could make my own for like 1/10th of the cost 1/5th if I wanted it to be super fancy HQ materials
“6 f’in grand for one of those cube fireplaces?”
Why not get the 110v plug in ones that are built into the TV stands the sell at the home depot? they look classy.
So for a few bucks more why would you go with this supreme awesomeness of place instead?
https://www.redfin.com/IL/Chicago/672-W-Irving-Park-Rd-60613/unit-G2/home/13395072
Yes you loose the view, but come on, you get something unique to be proud of.
I am very familiar with this building, and have been watching this unit on the market. I believe the reason it’s not selling is that it is overpriced by about 25,000. Other recent sales of 2/2s in this building that are not in front have been for around $300,000.
As for the neighborhood, I think it’s great. It’s quiet and easy to get to the Lake. Various city amenities are a reasonably short walk away. Noise from Lake Shore Drive is noticeable, but you get used to it, and the view more than makes up for it.
It’s an all-electric building. No gas lines.
Hard to say that it’s overpriced. Is not the point of being “totally rehabbed” to get more than the other recent sales? This unit is now $25K over the recent sales, with maybe $25K in improvements.
On the issue of location, I think that being closer to city amenities sells better than “quiet”.
Yes I would go with The Pattington unit over this building in a heartbeat.
“This unit is now $25K over the recent sales, with maybe $25K in improvements.”
You do mean $25K of improvements as compared to the recent sale unit you are comparing to as there is no way they took this from the Jan 2015 time-capsule of the 1970s to what it is now for less than $60k – – Demo and install of all new floors, Complete Demo and install of the kitchen (and did they open the wall?), Demo and install on both baths, install of the likely biofuel fireplace, all new paint. This person isn’t making any money on this, they have priced it so they don’t have to write a check at the closing table. Unfortunately they might have to do that or simply no sell at this time.
“there is no way they took this from the Jan 2015 time-capsule of the 1970s to what it is now for less than $60k – – Demo and install of all new floors, Complete Demo and install of the kitchen (and did they open the wall?), Demo and install on both baths, install of the likely biofuel fireplace, all new paint”
In CC pricing, that’s maybe $35,000 of work. And that *includes* the $2500 appliance package.
re: the “6 grand” fireplace, the one in this unit looks a lot like this:
http://www.ethanolfireplacepros.com/lata-wall-mount-or-recessed-bio-ethanol-fireplace.html
which is $425, shipping included.
“The corner of Clark and IPR is over a mile away. That is *not* close per CC bylaws; indeed it is basically 2x ‘far’.”
It is close if you walk as fast as miu, a mile in 5 minutes (or whatever I claimed).
The person who bought this in Feb. 2015 for $223,000 rehabbed it in just four months and had it back on the market in June 2015 for $365,000. Even if they did put 60,000 into renovations, that just seems greedy to me and I’m glad they were not rewarded with a buyer. Now down to $325,000 if they get that they’ll still make a decent profit. But as I said before, I think $325,000 is asking too much. This unit is not much nicer than the ones that sold for around $300,000. If they take it down that low though, they basically wasted their time, if not also money.
As for the neighborhood, there is a coffee shop & corner store & pizza place on the next corner. Jewel and Whole Foods are about 4 blocks in each direction. Those are the main things that matter to me. And most importantly to me, as you might guess by my handle, the Lake is right there.
The price seems right for a beautiful 2/2, right near lakefront and park. I just did a total rehab on a 2/2 and there’s no way that rehab cost less than 60k, closer to 80k, I bet. People forget that in a high rise, there’s a huge hassle factor getting materials up, demolished materials down and out, parking for contractors, … Many people will pay to avoid that nightmare, and just move into a well done place.
Secondly, for those saying the hood doesn’t have all the requisite hipster neighborhood amenities, it may not, but if it did, you can double the ask on the unit. The location is great for people that want to jump on their bike and head for the lakefront, or who have a boat at Montrose harbor. And lake views are always welcome.