Rany Management Sells Marine Terrace Apartments In Chicago's Uptown Neighborhood For $29.5M

Marine Terrace Apartments, a former condo building located at 4180 North Marine Drive in Chicago’s Uptown neighborhood, has been sold for $29.5 million. The multifamily property, owned by Rany Management, was sold by Nick Yassan. The transaction was brokered by Brien Martin and Dean Huber from Walker & Dunlop. The property consists of 190 units, making the per unit price $155,263.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $29,500,000
• Address: 4180 North Marine Drive, Chicago
• Market: Chicago
• Seller: Nick Yassan - Rany Management
• Brokers: Brien Martin & Dean Huber - Walker & Dunlop
• Lender: Prime Finance
• Units: 190
• Price Per Unit: $155,263

This transaction was facilitated by Walker & Dunlop within 40 days of the loan application. Marine Terrace Apartments is currently undergoing updates, including the addition of a rooftop deck and fitness room. Situated near the lakefront trail, beaches, parks, and retail options like Jewel-Osco, Aldi, and Target, the property offers convenient access to various amenities for its residents.