Marcus & Millichap brokered the sale of 1620 N. Honore Street, a three-unit apartment property located in Chicago, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $1,047,000.
The buyer, a partnership, was secured and represented by Steve Rachman, an investment specialist in Marcus & Millichap’s Chicago Downtown office
The buyer was attracted to the property because of the luxury owner’s unit, comprised of a fully renovated, 2,300-square-foot duplex up. This is also another example of Marcus & Millichap’s ability to import capital from out of state as the principal investor is based in Iowa.