CRE Midwest

Marcus & Millichap arranges the sale of a 23,035 SF mixed-use building

MM-milwaukee
2934 North Milwaukee

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale 2934 N Milwaukee, a 23,035-square foot mixed-use property located in Chicago, IL

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale 2934 N Milwaukee, a 23,035-square foot mixed-use property located in Chicago, IL, according to Steven D. Weinstock, Vice President/Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $6,100,000.

Sean R. Sharko, Austin Weisenbeck and Adrian J. Mendoza, investment specialists in Marcus & Millichap’s Chicago Oak Brook office and Kyle Stengle investment specialist in Marcus & Millichap’s Chicago Downtown office had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured by Kyle Stengle, Sean R. Sharko and Austin Weisenbeck.

The subject property is located at 2934 North Milwaukee in Chicago, IL and sold in 69 days at 95 percent of its original list price. This completely rehabbed mixed-use property is located in the Logan Square neighborhood of Chicago. The subject property offers a diverse retail tenant mix with 13 condo quality apartments. The retail tenants included Fifth Third Bank, Select Staffing and Enrique Cervera (Pizza).

In 2005, this property underwent major renovations including a new roof, plumbing, electric and façade work. The apartments were also completely renovated and the parking lot was resurfaced.