December 20, 2018 Comments Off on Wicker Park Property Trades for Apt. Redevelopment Views: 339 Chicago News, North Side

Wicker Park Property Trades for Apt. Redevelopment

Marcus & Millichap arranged the sale of an apartment property located in Chicago’s Wicker Park neighborhood. The asset sold for $1,910,000; the buyer and seller were not disclosed.

Kyle A. Stengle, SVP investments, and associate Ryan Wewerka handled the transaction. Both are in the Marcus & Millichap’s Chicago downtown office.

The property, located at 1645 W. Le Moyne St., will be developed by the new owner into 16 apartments featuring 12- and 14-foot ceilings, with parking in the basement. Previously-zoned RT-4, the zoning was changed to RM-5.5 before the sale closed.

Future tenants will have convenient access to several Chicago Transit Authority bus stops, as well as the Damen Blue Line train stop.

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