High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

Live-Work Portfolio Changes Hands in Evanston

Marcus & Millichap’s Stephen Lieberman and Peter Doughty have arranged the sale of five multifamily/office mixed-use properties in the North Shore suburb of Evanston, IL. The portfolio sold for $7,008,000.

“The buyer was a family office operation interested in expanding their existing self-managed portfolio while the interest rate environment remained relatively low,” said Lieberman, first VP investments in Marcus & Millichap’s Chicago Downtown office. “The portfolio included five mixed-use, live/work office buildings that were aggregated by the seller over a 20-year horizon.”

He added that each property has been “extensively renovated and operates as modernized office/live-work space. While all the properties were stabilized at the time of sale, there are strategic areas to enhance revenue and returns over time.”

Totaling 29 units, the portfolio includes 1611 Simpson St. (pictured); 537 Custer Ave.; 1128 Florence Ave.; 1715 Church St. and 1703-11 Darrow Ave.; and 2144 Ashland Ave.

Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Marcus & Millichap's Lieberman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action