Marcus & Millichap Arranges $20M Sale of Chicago Multifamily Property

Marcus & Millichap completed the sale of 1515 N Fremont St., a 98-unit multifamily property with approximately 4,000 square feet of commercial space in Chicago’s Lincoln Park neighborhood. The property sold for $20.4 million.

“The combination of an exceptional location, sizable scale, strong fundamentals, and limited opportunities in the market made this a very attractive investment and ultimately resulted in a successful sale,” said Kyle Stengle, senior managing director of investments in Marcus & Millichap’s Chicago Downtown office. Stengle represented the seller, Jack Duncan of Thesis Investment Group, and procured the buyer, Bill Silverstein of Beal Properties, a private real estate investment office.

Located approximately four miles from Chicago’s Loop, 1515 N Fremont St. is situated in the heart of Lincoln Park, within walking distance of several Chicago Transit Authority stations. Nearby attractions include Oz Park, Lincoln Park, and the Peggy Notebaert Nature Museum.

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