Press Releases
Marcus & Millichap Arranges $15.2M Sale of Chicago Mixed-Use Property
September 02, 2026
CHICAGO, Sept. 2, 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 3905 North Western Avenue, a mixed-use property in Chicago's North Center neighborhood, including 30 apartment units and four retail suites. The property sold for $15.2 million.
“The property generated strong investor interest due to its large unit mix, ample parking and location within North Center, one of Chicago’s most desirable neighborhoods with highly regarded school districts,” said Kyle Stengle, senior managing director investments. “With strong rental demand remaining in the market, the property offered a compelling opportunity for new ownership to invest capital improvements, enhance operations and pursue future rent growth.”
Stengle and Steve Rachman, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller.
Built in 2009, the property is approximately 57,000 square feet. The residential component includes 30 apartment units, comprised of 12 two-bedroom, two-bathroom units and 18 three-bedroom, two-bathroom units, along with four street-level commercial spaces. It is near the intersection of Western Avenue and Byron Street, benefiting from access to public transportation, Bell school district, grocery-anchored retail, dining and neighborhood amenities.
“The property generated strong investor interest due to its large unit mix, ample parking and location within North Center, one of Chicago’s most desirable neighborhoods with highly regarded school districts,” said Kyle Stengle, senior managing director investments. “With strong rental demand remaining in the market, the property offered a compelling opportunity for new ownership to invest capital improvements, enhance operations and pursue future rent growth.”
Stengle and Steve Rachman, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller.
Built in 2009, the property is approximately 57,000 square feet. The residential component includes 30 apartment units, comprised of 12 two-bedroom, two-bathroom units and 18 three-bedroom, two-bathroom units, along with four street-level commercial spaces. It is near the intersection of Western Avenue and Byron Street, benefiting from access to public transportation, Bell school district, grocery-anchored retail, dining and neighborhood amenities.
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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, 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.
