Press Releases
Marcus & Millichap Arranges $20.4 Million Sale of Chicago Multifamily Property
August 20, 2026
CHICAGO, Aug. 20, 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 1515 N Fremont St., a 98-unit multifamily property with approximately 4,000 square feet of commercial space in Chicago’s Lincoln Park neighborhood. The property sold for $20.4 million.
“It was clear that the location was the driving force behind the demand,” said Kyle Stengle, senior managing director investments in Marcus & Millichap’s Chicago Downtown office. “This is an A-plus location in a highly desirable market, and buyers immediately recognized the long-term value and stability that comes with owning an asset in a location like this. The combination of an exceptional location, sizable scale, strong fundamentals, and limited opportunities in the market made this a very attractive investment and ultimately resulted in a successful sale.” Stengle represented the seller, Jack Duncan of Thesis Investment Group, and procured the buyer, Bill Silverstein of Beal Properties, a private real estate investment office.
Located approximately four miles from Chicago’s Loop, 1515 N Fremont St. is situated in the heart of Lincoln Park, within walking distance of several Chicago Transit Authority stations, including North/Clybourn, Armitage and Sedgwick. The property also benefits from proximity to the North & Kingsbury Center, Blackhawk/Halsted, and the Clybourn Corridor, providing residents with convenient access to shopping, dining, and services. Nearby attractions include Oz Park, Lincoln Park, and the Peggy Notebaert Nature Museum.
Built in 2016, 1515 N Fremont St. is a controlled-access building featuring a work and play lounge, barbecue and picnic areas, indoor bicycle storage, and package locker service. The property offers studio apartments designed with efficient layouts and modern finishes, including eight- to 10-foot ceilings, built-in desks and dressers, in-unit washers and dryers, and solid-core wood doors.
“It was clear that the location was the driving force behind the demand,” said Kyle Stengle, senior managing director investments in Marcus & Millichap’s Chicago Downtown office. “This is an A-plus location in a highly desirable market, and buyers immediately recognized the long-term value and stability that comes with owning an asset in a location like this. The combination of an exceptional location, sizable scale, strong fundamentals, and limited opportunities in the market made this a very attractive investment and ultimately resulted in a successful sale.” Stengle represented the seller, Jack Duncan of Thesis Investment Group, and procured the buyer, Bill Silverstein of Beal Properties, a private real estate investment office.
Located approximately four miles from Chicago’s Loop, 1515 N Fremont St. is situated in the heart of Lincoln Park, within walking distance of several Chicago Transit Authority stations, including North/Clybourn, Armitage and Sedgwick. The property also benefits from proximity to the North & Kingsbury Center, Blackhawk/Halsted, and the Clybourn Corridor, providing residents with convenient access to shopping, dining, and services. Nearby attractions include Oz Park, Lincoln Park, and the Peggy Notebaert Nature Museum.
Built in 2016, 1515 N Fremont St. is a controlled-access building featuring a work and play lounge, barbecue and picnic areas, indoor bicycle storage, and package locker service. The property offers studio apartments designed with efficient layouts and modern finishes, including eight- to 10-foot ceilings, built-in desks and dressers, in-unit washers and dryers, and solid-core wood doors.
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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 www.MarcusMillichap.com.
