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.
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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