Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 16-unit apartment property located in Chicago, according to David G. Bradley, regional manager of the firm’s Chicago Downtown office. The asset sold for $1,850,000.
Anthony Hardy, a senior associate, and Thomas Heitzman, an associate, in Marcus & Millichap’s Chicago Downtown office, represented the buyer and seller.
The vintage, 1923 building, is located at 6816 S. Oglesby Ave. and was completely renovated in 2014. The property is comprised of six two-bedroom/one-bathroom units, one two-bedroom/two-bathroom unit, five three-bedroom/two-bathroom units, two four-bedroom/two-bathroom units and two four-bedroom/two-and-one-half-bathroom units. All the spacious units feature large, open floor plans, new kitchen countertops, stainless steel appliances, new bathroom vanities and new flooring. The renovations in 2014 included exterior improvements to the roof, windows, plumbing, electrical and HVAC. The property is within walking distance to Jackson Park, home to the Museum of Science and Industry, an 18-hole golf course, and one of two proposed sites for the Obama Presidential Center.
About Marcus & Millichap
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.