Press Releases
Marcus & Millichap Arranges Sale of 69-Unit Mixed-Use Property in Algonquin, Illinois
March 31, 2025
ALGONQUIN, Ill., March 31, 2025 – 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 ReNew on Main, a 69-unit apartment and retail property in Algonquin, Illinois.
“The buyer was drawn to the unique combination of newer construction, spacious apartments and retail along the Fox River in downtown Algonquin,” said Jordan Callaway, first vice president investments. “With strong demand in the Algonquin rental market and continued growth in the Chicagoland area, this property is well-positioned for long-term success.”
Callaway and Eric Bell, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Situated on 1.6 acres at 1 N. Main St., ReNew on Main is within walking distance of local businesses, restaurants, and retail options. The property includes 21 one-bedroom and 42 two-bedroom apartments, along with 10,221 square feet of retail space across 6 units. Amenities feature a club room, an event room with a full kitchen, a fitness center and a private plaza.
“The buyer was drawn to the unique combination of newer construction, spacious apartments and retail along the Fox River in downtown Algonquin,” said Jordan Callaway, first vice president investments. “With strong demand in the Algonquin rental market and continued growth in the Chicagoland area, this property is well-positioned for long-term success.”
Callaway and Eric Bell, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Situated on 1.6 acres at 1 N. Main St., ReNew on Main is within walking distance of local businesses, restaurants, and retail options. The property includes 21 one-bedroom and 42 two-bedroom apartments, along with 10,221 square feet of retail space across 6 units. Amenities feature a club room, an event room with a full kitchen, a fitness center and a private plaza.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
