Multifamily N Illinois

Nine-unit apartment building sells in Chicago's Galewood neighborhood

Nine-unit apartment building sells in Chicago's Galewood neighborhood,ph1

Marcus & Millichap facilitated the sale of a nine-unit apartment property located in Chicago, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $625,000.

Andrean Angelov, a first vice president investments, Ryan D. Engle, a senior vice president investments, and Samuel M. Antreasian, an associate, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller. The buyer was represented by Duke Wang, an associate, Kyle A. Stengle, a senior vice president investments, and Steve Rachman, a first vice president investments, in Marcus & Millichap’s Chicago Downtown office.

The property, built in 1929, is located at 1654 N. Merrimac Avenue, in the Galewood neighborhood of Chicago. The unit mix is comprised of eight one-bedroom/one-bathroom units with dens, and one two-bedroom/one-bathroom garden unit. The property features numerous recent capital improvements including a recently replaced tear-off roof, windows, porches and boiler. A laundry facility and two garages are also on site.