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Chicago & Midwest   /   February 19, 2021

Paul Bubny
By: Paul Bubny

Partnership Acquires North Side Apartments

Marcus & Millichap arranged the sale of 1620 N. Honore St., a three-unit apartment property in the North Side’s Wicker Park neighborhood. The property sold for $1,047,000, or $349,000 per unit.

The buyer, a partnership, was secured and represented by Steve Rachman, an investment specialist in Marcus & Millichap’s Chicago Downtown office.

The buyer was attracted to the property because of the luxury owner’s unit, comprised of a fully renovated, 2,300-square-foot duplex. Marcus & Millichap says the deal represents another example of its ability to import capital from out of state, since the principal investor is based in Iowa.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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