For Affordable Lake Views, Go North: 4170 N. Marine Drive in Uptown
This updated 2-bedroom unit in The Waterford, at 4170 N. Marine Drive, in Uptown is currently under contract.
The Waterford is a high rise along the lake built in 1973.
The corner unit has stunning direct lake and park views from 2 balconies.
There are hardwood floors and the kitchen has a copper backsplash. The bathrooms have custom tile and marble.
The condo has an in-unit washer dryer but no central air (just window units.) Rental parking is available in the building.
Janet Stier at Baird & Warner has the listing. See the pictures here.
Unit #18B: 2 bedrooms, 2 baths, no square footage listed
- Sold in November 1997 for $185,000
- Listed in October 2009 for $369,000
- Reduced
- Currently listed for $358,000
- Under contract
- Assessments of $683 a month (includes cable and pool)
- Taxes of $3016
- Parking is rental for $123 a month
- No central air (window units)
- In-unit washer/dryer
- Bedroom #1: 14×15
- Bedroom #2: 11×13
$358K is not exactly “affordable”, especially since you can now score comparable units in buildings further south for about $300K or less. This neighborhood is Buena Park, which is not quite as “prime” as Lakeview.
$275K tops for this unit.
Um, it’s “under contract” so apparently someone thought it was worth well over $275K.
“$275K tops for this unit.”
“$275K tops for this unit.”
really?
well ok i can say 275k tops for the unit and add 40k to it for the view. then i shall agree.
Love the place, hate the price. Good for the sellers getting $358k for it, especially with those assessments/parking.
Hello Golden Girls….
yeah it should have been 275K just because of assessments. but I have to say the view is good.
Yep, assesments are high for a non-doorman building. And the electric heat bills must be enormous with all those windows.
We do not yet know for a fact that it sold for the ask price, because the price at which it sold will not be available until the sale closes. It is “under contract”, not “sold”.
I’ll be eager to see what it actually sold for. I will be surprised if the seller got the ask price.
I was going to say; there’s a big difference between being under contract and sold. When/if the sale goes through, I’d be surprised if it closes at or near ask.
The Waterford is a nice building and statistically speaking, units sell for higher prices than other buildings along the Buena Park strip of Marine Drive.
Per previous comments – just wanted to add my 2 cents:
– Building does have a doorman
– There isn’t any deeded parking because it didn’t really exist in 1973. I don’t think $130 for valet is high at all – completely in line with other LSD/Marine buildings. Parking at Imperial Towers next door (4250 Marine) is $190 for valet or $210 for self park
– Electric heat is certainly not very efficient but this building is well insulated and I’d estimate the electric bill around $100/mo year round
– A/C are wall sleeves if I remember correctly so they don’t actually take up window space
– Pool is nice bonus, although owners are certainly paying for it in their assessment. I tell clients that about $100 of their assmt goes towards the pool.
– In unit washer dryer which none of the other buildings have
– The assessments are high considering it doesn’t include heat but in comparison of other 2 bed/2bath units in Lake Shore high rises between Roscoe and Irving (Lakeview):
1. The only lower assessments are in the New York (3660 LSD) and they range from $500-667. They also don’t include heat and the building is newer built in 1987 and since the building has deeded parking, there’s an additional assessment for that.
2. The rest of the buildings have assmts ranging from $697 – $1499. Most of those buildings are older (50’s/60’s) and a bit tired looking
The Waterford is a nice building and the “B” tier faces dead east. There’s a new listing 2 bed 1.5 bath for $250,000. It’s smaller, carpeted and doesn’t have finishes close to this one. Not sure if links work –> http://www.readyrealestate.com/il_mred/search.cfm?action=listing_detail&property_id=07417519&searchkey=46d6e4eb-9858-88d5-5d83-a4f5f292192f&npp=10&sr=1
My overall take on this is that the Waterford already garners a bit higher price than it’s surrounding buildings. Since this unit was highly upgraded, it ends up being the nicest unit. Not generally smart from a real estate perspective, but not necessarily a bad idea for someone who wants to live in an updated unit on the lake with in unit laundry, a view, doorman & pool.
Thanks for the info on the Building. This isn’t really my desired unit/location, but $250K for the place you link to seems like a good deal! Put some work into the place (even $50K) and you’ll end up with a nice place.
In the New York, Assesments start in the $300 range, and heat IS included. Way better building in a better location, in my humble opinion…
Waterford is my favorite bldg. It was built as a condo thus the in unit washer/dryer, pool, cleaners, exercise room, party rooms, saunas etc. The other bldgs 3550,3600,3660,3800,3900,4250 LSD/Marine were all rental buildings and were not built the same as Waterford.
Yes assessments are higher, however, you’re getting the best bldg around and parking for your guests too. A & B units are over 1400 sq ft and are the front units of bldg, balconies facing the lake and along dining room and bedrooms. Two bedroom units in the other bldgs are 1100-1200 sq ft. It’s worth every dollar.