Marcus & Millichap has brokered the $9.8 million sale of 5120 S. Harper Ave., a 61-unit multifamily property in Chicago’s Hyde Park neighborhood.
Marcus & Millichap Associate Jack Stanton represented the seller, a private Chicago-based company that had owned and operated the building for 22 years. Marcus & Millichap First Vice President James Ziegler procured the buyer, a local family-run LLC.
Constructed in 1924, the vintage property is located three blocks from Lake Michigan, with amenities including shared laundry facilities and a bike room. At time of sale, the building was 95% occupied. The buyer plans to update some apartments now and rehab additional units over time.
