Marcus & Millichap Brokers $15.2M Sale of Chicago Apartment Building
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Chicago capital flow has been concentrated in industrial along the I-55 and I-80 corridors and in the most select downtown trophy office submarkets. Multifamily transaction volume has moved up in the Near North and West Loop. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- The 24th Chicago story tracked on the wire in September 2026. All Chicago coverage →
- Disclosed multifamily deal value tracked in September 2026: $4.3B across 43 reported transactions. All Multifamily coverage →
- 153 stories mentioning Marcus & Millichap on the wire in the past 90 days. Marcus & Millichap coverage →
Computed from Real Estate Trail’s own tracked coverage
CHICAGO — Marcus & Millichap has brokered the $15.2 million sale of a 30-unit apartment building located at 3905 N. Western Ave. in Chicago’s North Center neighborhood. The property also features four retail suites. B…
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