Marcus & Millichap Brokers $9M Condo Deconversion in Chicago

LAKEVIEW, ILL. — Marcus & Millichap has brokered the sale of 3244 N. Clifton Ave. in Chicago’s Lakeview neighborhood for $9 million. The condominium building features 32 units. Kyle Stengle of Marcus & Millichap marketed the property on behalf of the condo owners. Stengle also secured the buyer, Beal Properties. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent or more are in agreement. Sellers then have the option to either move out or to lease back the property from the new owner.