Iconic Building Week: A Renovated 1-Bedroom in Marina City at 300 N. State in River North
This 1-bedroom in Marina City at 300 N. State in River North came on the market in August 2016.
Marina City was designed in 1959 by Bertrand Goldberg and completed construction in 1964.
Both towers have 65 stories. There’s also a marina on the river level.
Originally built as apartments, they were converted to condos in 1977.
The corn cob buildings have been the star of many movies and television shows not to mention television commercials.
However, their appearance also makes for a unique “pie shape” layout in the units.
This unit is on the 59th floor and has been completely renovated including removing walls from the original kitchen and opening it up to the living space.
The listing indicates it has north, east and west city views.
The kitchen has white cabinets, new counter tops, a kitchen island, stainless steel appliances and a tile backsplash.
It appears that there are new hardwood floors throughout.
The bathroom has also been renovated with a stand-up shower.
There’s no central air but there are wall units.
There’s also no in-unit washer/dryer and parking is leased in the 896 car parking garage.
The buildings, however, were in the news this summer for some issues with their balconies.
An April 15, 2015, inspection resulted in building code violations including “failure to maintain the exterior walls of a building or structure” at 300 N. State St. It required a “comprehensive inspection of the building’s exterior,” city buildings department spokeswoman Mimi Simon said.
“The building’s management hired an engineering firm to conduct this examination, which found that all of the building’s facades and balconies need to be repaired or replaced to bring them up to code,” Simon said.
In March, the Marina Towers Condominum Association obtained a building permit to make more than $2.1 million in repairs to balconies at all elevations, public records show.
DKcondo, Marina City’s management company, did not respond to a request to be interviewed about the construction project.
Janiec offered vague details about the repairs, saying that it could take up to eight weeks to fix each affected balcony railing.
“Everything is a process. There are eight or nine steps to replace posts and certain grout takes a long time to cure,” Janiec said. “We are trying to get all the [repair] work done this year.”
Some residents, however, say they’ve been banned from balconies since October and they haven’t been given any guarantee the work will be finished this year.
Is a renovated Marina City unit a dream come true for a Millennial new to Chicago?
Dustin Harvey at Alto Realty has the listing. See the pictures here.
Unit #5918: 1 bedroom, 1 bath, 725 square feet
- Sold in November 1991 for $15,500
- Sold in October 2013 for $223,000 (per Redfin)
- Originally listed in August 2016 for $293,500
- Reduced
- Currently listed for $288,000
- Assessments of $539 a month (includes doorman, cable, clubhouse, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $4133
- No central air- wall units
- No in-unit washer/dryer
- Parking is leased in the 896 car parking garage
- Bedroom: 12×14
- Living room: 18×16
- Kitchen: 10×12
Should that 1991 figure be $155,000? While that sounds a bit high (going off my hazy memory of prices from 25 years ago!), $15,500 is clearly would not have been an appropriate price at that time.
Re the unit: Great job on the reno–really opened it up and created an up to date, attractive space, though it’s not a particularly large 1 br. unit. Not sure how the common areas of that building stack up these days (it was definitely getting very run down), or whether the repairs Sabrina mentions will require any special assessment. But for a young professional that could leave her for a while & then rent out, this doesn’t look to be a bad deal.
Of course, I’m looking at the costs with the current assessments & taxes, which are both likely to increase (the taxes, substantially!!)
SECONDS LOLZ!!!!!!!! ANYONE UP FOR HAPPY HOUR? LETS RAWKKKKK!!!!
Nice looking remodel. I’ve only seen one or two other units and opening up the kitchen makes a significant difference. It’s a shame they didn’t put a glass door in the bedroom – the solid door makes the room feel smaller and closed-in.
The taxes seem about typical and the assessments are generally in-line with other buildings – however given the all electric HVAC, the buyer should expect $200-250 monthly electric bills during the peak heating and cooling months.
This is one of the few units in this building that seems to have been redone nicely.
I’m not so concerned that the facade and balconies need the work, but I would be concerned that the buildings are deferring maintenance. It should not have taken a failed city inspection to get the building to start repairs. I work nearby and don’t see evidence of work going on. Are they just not going to fix the issues?
A nice looking unit for marina city, I think the price is about 50k too high though
Surprised by the pics. I like it. Seems like the 2013 buyer isn’t going to do as well as they should. If you bought in 2013, you should be sitting on 25-50% gains without lifting a finger. Wonder how much they put into the reno.
“Should that 1991 figure be $155,000?”
Recorder has it at 15,500. May not have been an arms-length sale.
Owned in the building for 15 years…
The repairs are limited only to the railings. No issues with the balcony concrete structure. There was over $1M given to the building as part of the adopt a landmark program to pay for a large part of the project.
http://www.loopnorth.com/news/marina0222.htm
Winter electric bill would be around $100 max. Cooling is less.
There have been some great renovations in select units, but overall these buildings are too hit or miss in my opinion to justify paying $400/SF. No in-unit washer dryer and rental parking are other factors that to me make this price a stretch. Unit does look good though.
I dislike the exterior of this building with passion, but it is not a bad remodel.
Sones, no complaints about the diagonal floors?
I see suspended scaffolding on Marina Towers almost daily. They take two scaffolds together at about a 30 degree angle to work on the curved balconies. I see a lot of balconies with white signs. I don’t know what the signs are for.
They did a lot of concrete repair last year too. Maybe they deferred maintenance in the past, but that does not seem to be the case anymore.
“Sones, no complaints about the diagonal floors?”
the units are pie shaped anyway so it would be near impossible to have perfectly straight floors anyway… I’ll allow it!
“There was over $1M given to the building as part of the adopt a landmark program to pay for a large part of the project.”
The linked article sez John Buck gets “a zoning ‘bonus'” enabling them to “construct a [new] building that takes up more of the lot on which it is located” in exchange for a $1m donation to “help pay for improvements at a landmarked building”, the Marina Towers.
Thus, the super rich buyers of the new John Buck building defray the housing costs of their brethren, the merely rich, living in 50-year-old Marina Towers—all in exchange for the rest of us having to live amidst a slightly more tightly packed building grid.
I wonder how much “landmark” money subsidizes Hancock owners.
Since sonies is being so magnanimous about the floors, I’ll let the micro-stove go. But it’s hard to let some of those pics go. I though I was annoyed looking at the power cords in the kitchen pics, but then saw the filthy towel framing one of the bathroom pics.
“I though I was annoyed looking at the power cords in the kitchen pics”
Totally agree this is a terrible picture. My guess is that they were showcasing the power outlet with a USB port as if it was some ground breaking technology.
“they were showcasing the power outlet with a USB port”
As the cord isn’t there in any of the wide shots, that has to be the case.
Unbelievable!
“they were showcasing the power outlet with a USB port”
“As the cord isn’t there in any of the wide shots, that has to be the case.”
Is that gfci?
My guess is that they were showcasing the power outlet with a USB port as if it was some ground breaking technology.
My guess would be it’s to show that recent electrical work has been done.
“My guess would be it’s to show that recent electrical work has been done.”
this is a $20 item that any homeowner can easily do on their own.
“this is a $20 item”
Yep.
“that any homeowner can easily do on their own”
You have more faith in the American homeowner than is warranted.
Nice unit! Anyone know the owner occupied vs. renter percentage in this building?