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CHICAGO — Marcus & Millichap has arranged the sale of 2203 West Rice, a 12-unit apartment property located in Chicago, for $1.8 million. Bill Bailey and John Bailey of Marcus & Millichap’s Chicago downtown office marketed the property on behalf of the seller, a private investor. The buyer, a partnership, was also secured and represented by the Baileys. The property is located in the heart of Ukrainian Village and includes 10 two-bedroom and two one-bedroom units. The building has received upgrades during the last several years including a new boiler, a new gas central hot water heater, new windows, a new tear-off roof, upgraded kitchen and baths and new security gates.