The demand for apartment rentals in downtown Chicago continues to be a draw for multifamily investors.

Older condo buildings, often with looming structural repair costs that make individual unit owners eager to sell, are especially popular in that they can be quickly switched to apartments and provide an immediate revenue stream. A recent example is the $10.3 million deconversion sale of 227 East Walton Place brokered by Taylor Johnson client Marcus & Millichap. We got the word out about the deal to target media outlets, securing coverage in Multihousing Pro, REBusinessOnline,REJournals, Multi-Housing News, GlobeSt.com and Bisnow.

Marcus & Millichap recently brokered the $10.3 million deconversion sale of 227 East Walton Place, a 13-story, 25-unit multifamily building in Chicago’s Streeterville neighborhood.