Marcus & Millichap has announced the successful sale of ReNew on Main, a 69-unit mixed-use apartment and retail development located in Algonquin, Illinois. The property features 21 one-bedroom and 42 two-bedroom residential units, along with 10,221 square feet of ground-floor retail space.
“The buyer was drawn to the unique combination of newer construction, spacious apartments, and retail located along the Fox River in downtown Algonquin,” said Jordan Callaway, first vice president of investments at Marcus & Millichap. “With strong demand in the Algonquin rental market and continued growth across the Chicagoland area, this property is well-positioned for long-term success.”
Callaway, along with Eric Bell, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, represented the seller and secured the buyer.
ReNew on Main is located at 1 N. Main St., set on 1.6 acres and within walking distance of local shops, restaurants, and entertainment venues.
