Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 7300 South May Street and 7800 South Throop Street, two multifamily properties totaling 18 units in Chicago, Illinois.
“The buyer was drawn to the value-add aspect of the deal and plans to undertake extensive renovations to enhance occupancy and adjust rents to market levels,” said Quentin Benedetto, associate with the Stengle Stanton Group. “We obtained multiple strong offers
and expedited the closing process for both buildings to meet the seller’s exit strategy on a strict timeline.”
Benedetto, Kyle Stengle and Jack Stanton, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, Badu Investments LLC, and procured the buyer, AT Holdings LLC, an out-of-state
investor, looking to expand his South Side, value-add portfolio.
The properties include a mix of one- and two-bedroom units in Chicago’s Auburn Gresham and Englewood neighborhoods. Both May Street and Throop Street are within walking distance of Metra train stations and major CTA bus routes, providing convenient access to downtown Chicago.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
