Press Releases
Marcus & Millichap Arranges Sale of $15.5M Mixed-Use Property in Chicago
October 20, 2025
CHICAGO, Oct. 20, 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 mixed-use property including 22 multifamily units and five commercial suites in Chicago, Illinois, for $15.5 million.
“This was a rare opportunity to acquire a well-maintained, mixed-use asset on a high-profile Wicker Park corner with immediate upside in apartment rents,” said Kyle Stengle, senior managing director investments. “Strong buyer demand, ample parking and proximity to the CTA Blue Line made this a highly competitive offering. With continued rental demand, low new supply and room to bring rents to market level, the property is well positioned for long-term growth.”
Stengle, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, Stocking Urban, LLC.
The property is located at 1542 N. Damen Ave. and 2010 W. Pierce Ave. in Chicago’s Wicker Park/Bucktown neighborhood. The residential units include a mix of one- and two-bedroom floor plans, with garage and outdoor parking available. The commercial suites are fully leased to La Colombe, Urbanbelly, Blue Line Lounge & Grill, Eccentric Fitness and the Kadampa Meditation Center. The property is within walking distance of the CTA Blue Line and multiple bus routes.
“This was a rare opportunity to acquire a well-maintained, mixed-use asset on a high-profile Wicker Park corner with immediate upside in apartment rents,” said Kyle Stengle, senior managing director investments. “Strong buyer demand, ample parking and proximity to the CTA Blue Line made this a highly competitive offering. With continued rental demand, low new supply and room to bring rents to market level, the property is well positioned for long-term growth.”
Stengle, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, Stocking Urban, LLC.
The property is located at 1542 N. Damen Ave. and 2010 W. Pierce Ave. in Chicago’s Wicker Park/Bucktown neighborhood. The residential units include a mix of one- and two-bedroom floor plans, with garage and outdoor parking available. The commercial suites are fully leased to La Colombe, Urbanbelly, Blue Line Lounge & Grill, Eccentric Fitness and the Kadampa Meditation Center. The property is within walking distance of the CTA Blue Line and multiple bus routes.
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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.
