Chicago & Midwest + North Side + Apartments | February 19, 2021

Partnership Acquires North Side Apartments

Marcus & Millichap arranged the sale of 1620 N. Honore St., a three-unit apartment property in the North Side’s Wicker Park neighborhood. The property sold for $1,047,000, or $349,000 per unit.

The buyer, a partnership, was secured and represented by Steve Rachman, an investment specialist in Marcus & Millichap’s Chicago Downtown office.

The buyer was attracted to the property because of the luxury owner’s unit, comprised of a fully renovated, 2,300-square-foot duplex. Marcus & Millichap says the deal represents another example of its ability to import capital from out of state, since the principal investor is based in Iowa.

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About Paul Bubny

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).