The towers were the tallest apartment buildings in the world when completed. PriceĬall Fran at 77, text or email CONDOS SIMILAR TO MARINA CITY – MARINA TOWERSīuilt in 1964 each round tower has 61 stories with residential units above 15 floors of parking. You need to have a mortgage pre-approval or proof of funds letter ready to submit with your offer. That means you need to be ready to make an offer when the unit you want comes on market. Half of the Marina Towers condos that sold during the past 12 months had signed contracts in 10 days or less! Their average market time during the past 12 months was only 26 days! The average for all Near North Side condos was 114 days. UPDATE: Units in the Marina Towers sell much faster on average than other condos in the Near North Side. As you would expect given the round shape of the towers, the units are shaped like slices of pie getting wider from the entrances to the balconies. Three bedroom condos have 2,500+ SF.Īll of the condos have floor to ceiling windows and a curved balcony. Two bedroom condos have 1,200 to 1,500 SF. Marina City apartments have a condominium form of ownership. Here are the Marina City condos for sale and rent along with their location, building and unit information. Also be aware there is a transfer fee.Marina City – Marina Towers 300 North State Street, Chicago, IL 60654 Make sure you find out how much the HOAs+Ground Lease costs are when considering a condo.

The ground lease is a separate monthly expense in addition to HOA dues. Prices for these units tend to be similar to other condos in the area, because except for the additional monthly expense of the ground lease- buyers consider them the same. As an owner you can sell your condo to another party, but you do not actually own the land, apartment or common areas as a normal condominium owner would. Basically you are buying the right to possession for the length of the ground lease.

What you are actually buying is a “long-term, prepaid sublease”. Marina City Club units are officially called ‘condominiums’ but because the county owns the land- it is slightly different than with most condominiums. That means there are 56 years remaining on the ground lease plus potential extensions. The county approved a 39-year extension to the ground lease that now expires 2067. The property has a 60-year ground lease that began in 1968 and was scheduled to expire in 2028.

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