Home Buying in Uptown>Question Details

Buy Cheap To…, Home Buyer in Uptown, Chicago, IL

What's 4180 N Marine like inside now? remodeled?

Asked by Buy Cheap To Rent, Uptown, Chicago, IL Mon Apr 4, 2011

Has this building Polo Towers finally upgraded and converted no more green hallways, nasty lobby ceiling or basement ceiling collapsing or water damage? New professional management? I saw 4 foreclosures and a short sale go from 63k-128k. There is 189 units I have seen 88 on sale for 13 million on loop net.com on sale from 1-11-10 to present with a breakdown of 156k based on that price. I believe the assessments are $200. Would it be a good time to buy as a rental? And at what price...909 is listed at 99k foreclosure? 720 F Gordon Terrace and 4170 N Marine Dr have some their buildings are why nicer and presentable hallways etc.... My lender told me cash for sure in Polo Tower because of the ratio of rentals to owners. I was also told the reserves were like $25k which 4170 were near a million. The lender said that reserve is to low for a building with 189 units. I guess 4180 has had some burglaries and 4170 none and 720 had no comment. Would it be worth buying in the cheaper Polo Tower f

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GiGi Property Search’s answer
I believe there is 83 units for sale total out of 189? This link on loopnet.com shows more info. I guess it is a apartment to condo conversion sale? Hope it helps as well.

http://www.loopnet.com/Listing/16521278/4180-N-Marine-Drive-…

I thought it was already converted? Good luck.
0 votes Thank Flag Link Sun Apr 24, 2011
I use ro live in this dump STAY away that building is doomed. Nothing has changed and one family controls the homeowners with their property mangement company running the building! The building manager is their friend. I have heard fights and yelling during the meetings. You have to pay a $200 non refundable pet deposit? Which is strange considering the hallways are green carpet I think the original. Some people tried to deal with the board and either short sold or walked away! LOL the funny thing is they were right! You should go to 720 or 4170 they have higher assessments but your getting clean nice hallways, pool, doorman, 720 has a tennis court. There nice places. Polo Tower owners pay like $200 suppose to get heat but it's sneaky cause you have ro turn on this electric heaters on the wall and pay for it since it's electric. I feel sorry for the owners and couldn't stand the so called building manager. She always seems bugged and annoyed. So take this warning and run from there! Also the management company is called Rany Management if you look and found they are the property managers RUN! You do not want to deal with Dorothy... That's funny I guess their selling their units and no one wants them! Priceless I would say 90k or less but the building needs tons of upgrades and repairs!!!! Hope it helps.
0 votes Thank Flag Link Mon Apr 4, 2011
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