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.
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).