Marcus & Millichap Arranges $2.5M Sale of Eight-Unit Multifamily Property in Chicago

CHICAGO, June 2, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1503 North Wieland Street, an eight-unit multifamily property located in Chicago's Old Town neighborhood. The property sold for $2.5 million.

"Investor interest in this property was exceptionally strong given its location in Old Town, attractive unit mix and long-term rental stability," said Kyle Stengle, senior managing director investments. "The transaction ultimately attracted a 1031 exchange buyer seeking a well-positioned asset in one of Chicago's most established and supply-constrained multifamily submarkets."

Stengle, investment specialist in Marcus & Millichap's Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller,1503 North Weiland Street (Chicago) LLC, and procured the buyer, Sedgwick Properties LLC.

Built in 1899, the property features five one-bedroom units and three two-bedroom units across 5,310 square feet. It is steps from Wells Street and North Avenue, benefitting from immediate access to active retail and dining corridors.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.