A Total Gut Rehab 1-Bedroom in Marina City for $520,000: 300 N. State in River North
This 1-bedroom in Marina City at 300 N. State in River North came on the market in July 2023.
Marina City was designed in 1959 by Bertrand Goldberg and completed construction in 1964. Both towers have 65 stories. The complex has a marina along the river.
The towers have 896 units and 800 parking spaces. Originally built as apartments, they were converted to condominiums in 1977.
The Towers have door staff, on-site management and 24-hour maintenance. There’s a fitness center, grocery market, event room, bike storage, dry cleaner and roof deck access.
The listing says this unit had a “complete total gut rehab in 2022.”
It has hardwood floors throughout.
The kitchen has dark modern cabinets, high-end appliances and an island with a waterfall edge that seats 3.
The unit is being offered furnished. The bedroom has a new Vant Panel bed with built-in nightstands and lights that the listing says is worth $10,000+.
It has some of the features that buyers look for including washer/dryer in the unit and valet parking which is available in the building. The listing says it has “new A/C units.”
On the 58th floor, it has city views from two private balconies.
These buildings are iconic in Chicago. Sitting on the Chicago River, the “corn cob” buildings have been featured in dozens of commercials, movies and tourist promotions of the city.
These buildings are also near the shops and restaurants of River North, the Riverwalk and the Mag Mile.
Listed at $520,000, furnished, would this make a good in-town?
Van Ann Kim at Compass has the listing. See the pictures here.
Unit #5817: 1 bedroom, 1 bath, 725 square feet
- Sold in February 1996 for $70,000
- Sold in May 1999 for $136,000
- Sold in September 2006 for $515,000
- Sold in May 2016 for $225,000
- Sold in December 2020 for $225,000
- Currently listed at $520,000
- Being sold as “furnished”
- Assessments of $551 a month (includes doorman, exercise room, exterior maintenance, snow removal, Internet)
- Taxes of $6,033
- No central air but wall units
- Washer/dryer in the unit
- Valet parking in the building
- Public and guest parking next door
- Bedroom: 14×11
- Living room: 16×16
- Kitchen: 12×9
- 2 private balconies
It’s also close to Eataly
$515k in 06 had to be money laundering
At ask, unless you absolutely love it there’s probably $300/sf of money to play with to get exactly what you want. You might even be able to upgrade to a wall unit with sophisticated chips
With that said, it looks like they did drop a lot of coin upgrading the unit. Walls/ceilings look like Venetian plaster which is beaucoup $.. hopefully they got to enjoy it in the 3 years they owned
One thing I don’t understand is owners not embracing the bones and going full MCM. It’s trying to fit a square peg into a round hole if you stray too far away (This isn’t bad)
Nice unit but Ridiculous price, no thanks! I’d rather snag a 1/1.5 in many nicer buildings.
I appreciate the historic architecture, huge balconies, and marina access. There is a collection of features in the Marina City that you really cannot find anywhere else near this location. But every time I go into the complex I encounter an eclectic range of odd-balls which makes it feel unsafe. Enough to cross it off my list permanently.
“$515k in 06 had to be money laundering”
Was for both 5817 and 5818.
Next market sale of 5818 was Jul-16 for $236k (which is also the most recent sale). https://www.redfin.com/IL/Chicago/300-N-State-St-60654/unit-5818/home/14100178
Just not a $700 psf building. Only recent-ish sale I find over $400 was 5621, a three wedge (50% bigger) for $510k–updated, but now somewhat dated.
Think that the bleeding edge is $450 (for someone who thinks it’s perfect), and I would advise a friend against anything starting with a 4.
Good luck to the Seller.
“Nice unit but Ridiculous price, no thanks! I’d rather snag a 1/1.5 in many nicer buildings.”
This may be the most expensive 1 bedroom I’ve ever seen in the building. It’s a lovely renovation and this building is definitely unique (as are the interiors of the units).
Great views from the 58th floor. Big balcony.
Not sure what this will sell for though.
BTW, someone told me the other day that Joe Zekas died a few weeks ago…
JZ’s passing confirmed:
https://www.legacy.com/us/obituaries/name/joseph-zekas-obituary?id=52211503
Once I can stop laughing at the price I’ll check the listing.
I’ve never seen a condo in this building priced so high. It had better be great.
Interior ia nicely done and it’s on a high floor, at least, but come on, it faces the wrong way! The preferred side of these buildings faces the river. The view is OK, though, because at least it’s somewhat open.
Anyway, I’d never pay that much for a 1 bedroom especially not in Marina City where they typically go for $350,000 or so.
The thing that bugs me about every Marina City unit I’ve seen is those ugly AC units in every room above the balcony doors. There is something quite institutional looking about those. I wonder if they can be replaced or substituted by something with better aesthetics.
“The thing that bugs me about every Marina City unit I’ve seen is those ugly AC units in every room above the balcony doors. There is something quite institutional looking about those. I wonder if they can be replaced or substituted by something with better aesthetics.”
When they built this building in the 1960s, the wall units is what was commonly used Dan #2. Many of the 1960s and early 70s buildings used them. They can’t be replaced except with another unit. In this unit, the listing says they were replaced so these are updated A/C units.
You can see the box for them in pictures of the balcony. It’s literally a box on the outside of the building.
“JZ’s passing confirmed:”
I’m sorry to hear this. I had not heard this news. Thanks for letting us know anon (tfo). I respected him for all he did for real estate over the years including running YoChicago, even as we had our disagreements on this site over the years.
Can this put to rest the belief that I am Joe Zekas? I hope it does. Although I’m sure some of you will find some other man that I’m supposed to be now.
“BTW, someone told me the other day that Joe Zekas died a few weeks ago…”
Thanks Jack. For those of you who don’t know who he is, he’s been around Chicago real estate for decades. He originally published free informational magazine that you could get on in one of those boxes on various street corners. I did use to read it. But then he moved that over to the Internet with YoChicago. After the housing bubble crushed condo development, he switched over to featuring new apartments mostly.
He was known on this blog as “the one who shall not be named” because he used to fight with some of the people here and had a Google Alert on his name so we couldn’t use it or else he would show up. Although he did show up when someone mentioned him by name a few months ago.
That’s too bad that he’s passed. Changing of the guard in Chicago real estate for sure.
YoChicago had devolved into mostly sponsored apartment posts in the last years. It’s not a bad place to get apartment info, though. But most blogs can’t make enough money off of Google ads anymore. He had to take sponsored posts in order to make any money off the site.
I remain sponsor free. But I make almost nothing off this site. It’s a labor of love for me.
I wonder if they will simply just close the site now. Last post was in early June, before his death.
Lipstick on a pig. Window AC units are a deal killer for me at anything priced over $300k
“Lipstick on a pig. Window AC units”
Agree they are eyesores. Why not just pull them out and bring in a couple of Dyson fans during the 50 days per year where AC is necessary.
“50 days per year where AC is necessary.”
you think you’re only going to run the A/C 50 days living on the 58 floor. my A/C is on most days from June-Sept. I guess it depends on your comfort level.
“Agree they are eyesores. Why not just pull them out and bring in a couple of Dyson fans during the 50 days per year where AC is necessary.”
They don’t really look like eyesores in all of the units. This one looks fine. They also put in new units. Also has the preferred views. Listed at $380,000.
If you pulled it out, what would you put in the box? The building isn’t going to let you get rid of the box. Would just be a hole there.
https://www.redfin.com/IL/Chicago/300-N-State-St-60654/unit-4633/home/14100449
“Lipstick on a pig. Window AC units are a deal killer for me at anything priced over $300k”
Just a technical note, this building doesn’t have “window AC units.” It’s a wall unit. Built right into the wall.
Absolutely nuts price for Marina City. I’ve seen some go for $400K that looked pretty much gutted. $500K for a 1 bedroom is a no from me dawg. You can get a 2 bed for that in buildings just around the corner, easily.
Sabrina. Agree 4633 is a much more attractive unit at a better price.
100% 4633 has a MUCH better view and price.
Once heard Marina city referred to as a “trailer park in the sky” due to so many cluttered balconies, and now I can’t unsee it.
Postscript: I went to the open house for 4633 today and came away very impressed. I think it will go close to ask. The renovation is beautifully done and the views were outstanding. It is a high price for a one bedroom in this complex at $375,000 but in this case I think it’s realistic. We’ll see. Wish I was in position to buy it.
“Postscript: I went to the open house for 4633 today and came away very impressed. I think it will go close to ask.”
Thanks for the open house update Dan #2. How was the building, overall?
Was the open house crowded? What was the mood of the agent?
I was the only one at the open house – the agent was actually hanging around the lobby waiting for someone to come. So I get the feeling demand isn’t high, but another couple came in just as I left and wanted to see it.
Agent was great. Loved his friendly attitude. He obviously knows the unit and building well. The lobby isn’t impressive – very dull and no atmosphere. It felt like stepping into a dry cleaner’s shop. Doesn’t help that you have to go into basement to access. Common areas (hallway) was meh, but agent says it’s being redone. Elevators seemed to function well. Roof deck very nice but not developed -just a flat space with no deck chairs. I didn’t see the exercise room as it’s in the other tower, but agent said it’s no more than functional. He knew I’d rented in Hancock and he said it’s not nearly as nice.
“He knew I’d rented in Hancock and he said it’s not nearly as nice.”
At least he was giving you a realistic view.
Dan #2
Is the dry cleaners still in the Hancock? on the residence floor with the market and the pool?
I don’t remember a dry cleaners at the Hancock. But I wasn’t looking for one, either.
And for clarification, the Marina city agent was only referring to the Hancock’s fitness center being much nicer, not the building in general. I did find the Hancock’s lobby and public areas on 44 to be far nicer than Marina City’s however. Still, Marina City gives you outdoor space, a key consideration.