Marcus & Millichap Real Estate Investment Services has sold a 13-unit multifamily property located in Chicago. The asset commanded a sales price of $1.5 million.
Kyle Stengle, an investment specialist in Marcus & Millichap’s Chicago downtown office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a local apartment investor, was secured and represented by James Clough and Joseph Smazal, investment specialists in Marcus & Millichap’s Chicago downtown office.
The asset is located at 945-947 W. Cullom Ave., in the Buena Park neighborhood of Chicago, approximately 5.5 miles north of the Chicago Loop. The building consists of a unit mix of one and two bedrooms, two gated tandem parking spaces and on-site laundry owned by the building. Many capital improvements 11 years ago include: tear-off roof, boiler, windows, vertical plumbing and new wiring to units.