Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of an 18-unit apartment property located in Chicago, according to David G. Bradley, regional manager of the firm’s Chicago Downtown office. The asset sold for $570,000 in a lender directed short sale.
Anthony Hardy, a senior associate, and Thomas Heitzman, an associate, in Marcus & Millichap’s Chicago Downtown office, exclusively marketed the property on behalf of the seller and also represented the buyer.
The property is located at 9355 S. Laflin St. in a quiet residential area of Chicago. The three-story building was built in 1927 and is comprised of five studio units, seven one-bedroom/one-bathroom units, and six two-bedroom/one-bathroom units. The property is conveniently located within walking distance to public transportation and has easy access to Interstate 94 and Interstate 57 along with Midway International Airport located just eight miles away.
About Marcus & Millichap
With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.