December 20, 2018
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.
For comments, questions or concerns, please contact Paul Bubny
Tags: Apartments & Multifamily