Marcus & Millichap has finalized the sale of a 32-unit apartment property located at 1518-1528 W. 99th Street in Chicago. The property was sold for over $3.69 million, equating to $115,375 per unit. This transaction set a new record for the highest price per unit in the Beverly neighborhood of Chicago.
Jack Stanton, a partner at the Stengle Stanton Group of Marcus & Millichap, commented on the sale, stating, “Out-of-state capital, particularly from coastal regions, is increasingly seeking higher returns in Chicago, often surpassing local private investors in bids. This trend is evident in neighborhoods on the South and Southwest sides of the city, as reflected in this record-setting transaction.”
Stanton, an investment specialist at Marcus & Millichap’s Chicago Downtown office, managed the sale and represented the seller, a private investor based in Chicago. Steven Weinstock, Illinois’ Broker of Record, supported the transaction’s closure.
The property at 1518-1528 W. 99th Street comprises 32 two-bedroom units and was built in 1959. It is located on 0.46 acres, near Interstate 57, in the Beverly suburb of Chicago.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
