Press Releases
Marcus & Millichap Brokers Sale of 1894 Mixed-Use Property in Chicago’s River North
April 23, 2026
CHICAGO, April 23, 2026 – 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 440-448 N. State St., an 18,170-square-foot mixed-use property in Chicago, Illinois.
“This sale highlights the ongoing appeal of well-located multifamily assets in downtown Chicago, where we’re continuing to see strong interest,” said Ryan D. Engle, senior managing director investments. “Neighborhoods like River North that offer a mix of lifestyle amenities and accessibility are attracting investors seeking stable, long-term performance as new supply remains limited.”
Engle, Kyle Stengle and Andrean Angelov, all senior managing directors and investment specialists in Marcus & Millichap’s Chicago Oak Brook and Chicago Downtown offices, exclusively marketed the property on behalf of the seller and procured the buyer. Both parties are private investors.
This mixed-use site in Chicago’s River North neighborhood was built in 1894 and includes 11 residential units and three retail spaces. The residential component comprises two studios and nine two-bedroom, one-and-a-half-bath units. The building includes a basement for storage and an on-site laundry facility. The property is a well-maintained asset in a high-visibility location one block from the Grand Red Line station and is close to the Magnificent Mile, Navy Pier and Lake Michigan.
“This sale highlights the ongoing appeal of well-located multifamily assets in downtown Chicago, where we’re continuing to see strong interest,” said Ryan D. Engle, senior managing director investments. “Neighborhoods like River North that offer a mix of lifestyle amenities and accessibility are attracting investors seeking stable, long-term performance as new supply remains limited.”
Engle, Kyle Stengle and Andrean Angelov, all senior managing directors and investment specialists in Marcus & Millichap’s Chicago Oak Brook and Chicago Downtown offices, exclusively marketed the property on behalf of the seller and procured the buyer. Both parties are private investors.
This mixed-use site in Chicago’s River North neighborhood was built in 1894 and includes 11 residential units and three retail spaces. The residential component comprises two studios and nine two-bedroom, one-and-a-half-bath units. The building includes a basement for storage and an on-site laundry facility. The property is a well-maintained asset in a high-visibility location one block from the Grand Red Line station and is close to the Magnificent Mile, Navy Pier and Lake Michigan.
# # #
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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
