Marcus & Millichap Brokers Deal for Landmarked Streeterville Apartments
Marcus & Millichap brokered the $10.5-million sale of 227 E. Walton, a landmarked 25-unit multifamily property in Chicago’s Streeterville neighborhood.
Kyle Stengle, senior managing director investments in Marcus & Millichap’s Chicago Downtown office, along with Sean Sharko and Austin Weisenbeck, senior managing directors investments in the firm’s Chicago Oak Brook office, represented the seller, Brad Management, which previously worked with the same brokerage team to acquire the property in 2018 through a condo deconversion. The new owner is Altitude Capital Partners.
“Even in the midst of interest rate uncertainties, this deal illustrates the high demand for well-located assets, especially in core downtown neighborhoods like Streeterville,” said Stengle, whose team procured multiple offers and closed at the initial contract price.
Designed by noted Chicago architect Harry Weese, 227 E. Walton was completed in 1956 and designated a Chicago landmark in 2012.
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. 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 15-20 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).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!