Press Releases
Marcus & Millichap Arranges the Sale of a 26-Unit Waukegan Multifamily Property
May 08, 2023
WAUKEGAN, IL, May 8, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 26-unit multifamily property located in Waukegan, Illinois, according to Steven D. Weinstock, Regional Manager and Senior Vice President of the firm’s Chicago Oak Brook office.
Senior Managing Director Investments Ryan D. Engle, Senior Vice President Investments Andrean Angelov, and Associate Jake Lenti, all investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor.
According to the team, the property had been meticulously well kept by the seller who had owned the property for thirty years. The property was also fully occupied at the time of sale. The team had conducted several property tours and had received multiple offers from qualified investors before the property went under contract.
This 26-unit multifamily building is located at 415-419 Franklin Street in Waukegan, Illinois, has convenient access to Route 137, and is within walking distance of the Waukegan Metra station and PACE bus stops. The area is also surrounded by numerous local and national retail and dining outlets. Originally built in 1971, the building has seen recent capital improvements, including a newer roof. The building also offers off-street parking and an on-site laundry facility in a quiet residential neighborhood.
Senior Managing Director Investments Ryan D. Engle, Senior Vice President Investments Andrean Angelov, and Associate Jake Lenti, all investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor.
According to the team, the property had been meticulously well kept by the seller who had owned the property for thirty years. The property was also fully occupied at the time of sale. The team had conducted several property tours and had received multiple offers from qualified investors before the property went under contract.
This 26-unit multifamily building is located at 415-419 Franklin Street in Waukegan, Illinois, has convenient access to Route 137, and is within walking distance of the Waukegan Metra station and PACE bus stops. The area is also surrounded by numerous local and national retail and dining outlets. Originally built in 1971, the building has seen recent capital improvements, including a newer roof. The building also offers off-street parking and an on-site laundry facility in a quiet residential neighborhood.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
