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Marcus & Millichap sells 98-unit Lincoln Park multifamily for $20.4M
The Chicago property at 1515 N Fremont St. includes about 4,000 square feet of commercial space and sits roughly four miles from the Loop.
Marcus & Millichap has completed the sale of 1515 N Fremont St., a 98-unit multifamily property in Chicago’s Lincoln Park neighborhood, for $20.4 million, according to ConnectCRE.
The asset includes approximately 4,000 square feet of commercial space, and is about four miles from Chicago’s Loop. The location is near several Chicago Transit Authority stations and attractions including Oz Park, Lincoln Park, and the Peggy Notebaert Nature Museum.
ConnectCRE reports that Kyle Stengle, senior managing director of investments in Marcus & Millichap’s Chicago Downtown office, represented the seller, Jack Duncan of Thesis Investment Group, and procured the buyer, Bill Silverstein of Beal Properties.
In its commentary on the deal, Marcus & Millichap said the combination of the location, sizable scale, strong fundamentals, and limited market opportunities helped make the investment attractive and supported a successful closing.