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Investor Snags Uptown Apartments as Value-Add Opportunity
Marcus & Millichap has finalized the sale of 815 W. Belle Plaine Ave., an 11-unit apartment property in the Uptown neighborhood of Chicago’s North Side. The asset sold for $1,565,000.
Duke Wang, Kyle A. Stengle and Steve Rachman, investment specialists in Marcus & Millichap’s Chicago Downtown office, marketed the property on behalf of the seller, an individual/personal trust.
The property was held in the same ownership for more than 30 years, with well below-market rents at the time of sale. This provided the opportunity for the buyer to execute a value-add strategy in a growing submarket and achieve substantial cash-flow post-renovation
- ◦Sale/Acquisition


