
Marcus & Millichap Brokers South Shore Apartment Deal
Marcus & Millichap brokered the sale of 7100 South Shore Dr., a 164-unit multifamily property in Chicago’s South Shore neighborhood. The firm’s Ryan Engle, senior managing director of investments, SVP Andrean Angelov and associate Zack Mahoney represented the seller, Morgan Properties, and procured the buyer, James Oppenheimer of New City Property Management. Pricing wasn’t disclosed.
“This is a marquee building in a very desirable South Shore location, near the lakefront, public transportation, South Shore Cultural Center and Jackson Park – the future home of the Obama Presidential Center,” said Engle. “We received substantial interest in the property and the end result was a win-win for both buyer and seller.”
Constructed in 1923, the vintage property has added modern amenities in recent years, including Amazon Hub Lockers, gated parking and a fitness center. The buyer has plans to update common spaces, including renovating and repurposing the building’s vacant ballroom.
- ◦Sale/Acquisition