Marcus & Millichap Announces Four-Property Multifamily Portfolio Listing in Chicago
CHICAGO, Nov. 23, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today a Dec. 2, 2020 bid deadline for the court-supervised auction of the Windy City Portfolio; four multifamily properties totaling 528 units located in the Chicago Metropolitan Area. The assets are in St. Charles, Glen Ellyn, Addison, and Mundelein, Illinois.
“The Windy City Portfolio is an opportunity for an investor to establish a significant ownership and management presence with a single transaction in the suburbs of the nation’s third-largest city,” said Ryan Engle, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “The portfolio is being sold subject to a minimum stalking-horse overbid of $40,080,000 and the sale will be conducted subject to the court-approved bid procedures. If one or more qualified bids are submitted after the Dec. 2 bid deadline, an auction will be held on Dec. 4.”
The Windy City Portfolio represents a diverse range of suburbs outside Chicago’s main core and draws tremendous value from the city’s historically strong apartment fundamentals, demographics, vital employment centers, and wide array of entertainment options. The properties for sale are:
- Fox Run Apartments, St. Charles, 220 units
- Parkside Apartments, Glen Ellyn, 120 units
- Villa Brook Apartments, Addison, 118 units
- Embassy Apartments, Mundelein, 70 units
To be considered, bids must be delivered per the court approved sale procedure order on or before 5:00 p.m. (CDT) on the day of the deadline. For more information regarding the properties, process, and bid procedures, please contact Ryan Engle at 773-317-7771 firstname.lastname@example.org.
# # #
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.