Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced it has brokered the sale of 7100 South Shore Drive, a 164-unit multifamily property in Chicago’s South Shore neighborhood.

Marcus & Millichap’s Ryan Engle, senior managing director of investments, Andrean Angelov, senior vice president of investments, and Zack Mahoney, associate, represented the seller, Morgan Properties, and procured the buyer James Oppenheimer of New City Property Management.

“This is a marquis building in a very desirable South Shore location, near the lakefront, public transportation, South Shore Cultural Center and Jackson Park – the future home of the Obama Presidential Center,” said Engle. “We received substantial interest in the property and the end result was a win-win for both buyer and seller.”

Constructed in 1923, the vintage property has added modern amenities in recent years, including Amazon Hub Lockers, gated parking and a fitness center. The buyer has plans to update common spaces, including renovating and repurposing the building’s vacant ballroom.

About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit http://www.marcusmillichap.com/.