ChicagoFar North

A bulk sale of units planned at Buena Park’s Polo Tower

by Joe Zekas on 12/19/12

Polo Tower, 4180 N Marine Dr in the Buena Park section of Uptown, has a long history with YoChicago and its New Homes Magazine predecessor.

We first mentioned Polo Tower as a high-rise condo conversion in October of 2001. At the time, one-bedrooms in the building ranged upwards from the $140s.

By the time of our last look at the property’s status, in September of last year, the project had been through a court-ordered bankruptcy sale. The few resales in the building had sold in the low $60s to the low $90s.

Yesterday’s Crain’s Chicago Real Estate Daily reports that a broker has been hired to sell the remaining 87 fully-leased units and 19 parking spaces in the building in bulk. According to Crain’s, a 2010 attempt to sell 83 units in bulk for $10.5 million was aborted. Read the details at Crain’s.

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