Local Investment Group Acquires Six-Property Multifamily Portfolio In Chicago For $7.9M

A six-property, 38-unit multifamily portfolio has been sold in Chicago, encompassing the properties located at 1516 North Greenview Avenue, 1452 North Greenview Avenue, 1350 North Greenview Avenue, 1302 North Cleaver Street, 1362 West Crystal Street, and 1049 North Marshfield Avenue. The sale price was $7,900,000, resulting in a price per unit of $207,895. The properties are situated in the Chicago market, specifically in the Noble Square neighborhood.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,900,000
• Units: 38
• Price Per Unit: $207,895
• Market: Chicago
• Brokers: Tyler Preissing & James Ziegler - Marcus & Millichap

The seller was represented by Tyler Preissing and James Ziegler, who are affiliated with Marcus & Millichap. The buyer, a local investment group, intends to renovate the remaining un-updated units within the portfolio.