Marcus & Millichap brokered the sale of a six-building, 38-unit apartment portfolio in Noble Square for $7,925,000.  

The buyer and seller were not identified but were described as a local investment group and a private investor, respectively. 

The portfolio offers a mix of one-, two- and three-bedroom units, many of which have been recently renovated, as well as 10 income-producing garage spaces. The properties are located at 1516 N. Greenview Ave., 1452 N. Greenview Ave., 1350 N. Greenview Ave., 1302 N. Cleaver St., 1362 W. Crystal St. and 1049 N. Marshfield Ave. 

“The portfolio offering drew strong interest and was under contract within a month of hitting the market, which speaks to the continued demand for well-located multifamily assets in Chicago,” said Tyler Preissing, an investment specialist in Marcus & Millichap’s downtown office. “The buyer saw immediate value and plans to renovate the remaining un-updated units while continuing operations. Investor demand in Noble Square remains robust, driven by the area’s stability, rental growth and long-term upside potential.”  

Preissing was joined by his Marcus & Millichap colleague, James Ziegler, in listing the property and finding the buyer.