Press Releases
Marcus & Millichap Brokers $7.9M Sale of 38-Unit Multifamily Portfolio in Chicago
August 26, 2025
CHICAGO, Aug. 26, 2025 – 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 six-property, 38-unit multifamily property portfolio in the Noble Square neighborhood of Chicago, Illinois. The properties sold for a collective $7,925,000.
“The portfolio offering drew strong interest and was under contract within a month of hitting the market, which speaks to the continued demand for well-located multifamily assets in Chicago,” said Tyler Preissing, associate investments. “The buyer saw immediate value and plans to renovate the remaining un-updated units while continuing operations. Investor demand in Noble Square remains robust, driven by the area’s stability, rental growth, and long-term upside potential.”
Preissing and James Ziegler, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, private investor, and procured the buyer, a local investment group.
The portfolio features a mix of one-, two- and three-bedroom units, many of which have been recently renovated. Located near Milwaukee Avenue and within walking distance of the CTA Blue Line and several bus routes, the properties offer convenient access to downtown and surrounding neighborhoods. The portfolio also includes 10 income-producing garage spaces.
The six properties are located at 1516 N. Greenview Ave., 1452 N. Greenview Ave., 1350 N. Greenview Ave., 1302 N. Cleaver St., 1362 W. Crystal St. and 1049 N. Marshfield Ave.
“The portfolio offering drew strong interest and was under contract within a month of hitting the market, which speaks to the continued demand for well-located multifamily assets in Chicago,” said Tyler Preissing, associate investments. “The buyer saw immediate value and plans to renovate the remaining un-updated units while continuing operations. Investor demand in Noble Square remains robust, driven by the area’s stability, rental growth, and long-term upside potential.”
Preissing and James Ziegler, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, private investor, and procured the buyer, a local investment group.
The portfolio features a mix of one-, two- and three-bedroom units, many of which have been recently renovated. Located near Milwaukee Avenue and within walking distance of the CTA Blue Line and several bus routes, the properties offer convenient access to downtown and surrounding neighborhoods. The portfolio also includes 10 income-producing garage spaces.
The six properties are located at 1516 N. Greenview Ave., 1452 N. Greenview Ave., 1350 N. Greenview Ave., 1302 N. Cleaver St., 1362 W. Crystal St. and 1049 N. Marshfield Ave.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
