Multifamily N Illinois

Marcus & Millichap brokers multifamily, mixed-use transactions in Chicago area

7801 S. Ashland Avenue, Chicago. 7801 S. Ashland Avenue, Chicago.
510-520 Main Street, Lemont, Illinois 510-520 Main Street, Lemont, Illinois
7227 W. 58th Street, Summit, Illinois. 7227 W. 58th Street, Summit, Illinois.

Marcus & Millichap brokered the sale of two rental properties and one mixed-use building in the Chicago area. The properties are located in Chicago, Lemont and Summit, Illinois.

The 15,600-square-foot mixed-use property located at 7801 S. Ashland Avenue in Chicago sold for $675,000. James Ziegler, a first vice president investments, and Keith Zelenika, an associate, in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller.

This mixed-use property consists of one first-floor retail unit measuring 1,000 square feet, six one-bedroom/one-bathroom units measuring 700 square feet and eleven two-bedroom/one-bathroom units measuring 900 square feet. This property’s location in the Auburn Gresham neighborhood provides residents and customers with close access to the Dan Ryan Expressway as well as CTA bus and train stops.

Andrean Angelov, first vice president investments, Adam Fortino, a senior associate, and Ryan D. Engle, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed Main Court Apartments in Lemont on behalf of the seller and represented the buyer. The 24-unit apartment property received multiple offers and sold above list price.

Main Court Apartments is located at 510-520 Main Street, four blocks east of the Lemont Metra Train station. The property consists of two 12-unit buildings comprised of all one-bedroom/one-bathroom units. The property features ample off-street parking, balconies or patios for each unit and an on-site laundry facility for each building.

Angelov, along with Ryan D. Engle, senior vice president investments, and Samuel M. Antreasian, an associate, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed Summit Court Apartments, a 48-unit apartment property located in Summit, on behalf of the seller. Engle and Angelov also represented the buyer. Terms of the transaction were not disclosed

Located at 7227 W. 58th Street off Harlem Avenue, the unit mix is comprised of 44 one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units. The property features 20 off-street parking spaces. Public transportation is readily available for residents with CTA and PACE bust stops located a half block east and the Summit train station located one-mile northwest of the property.