Solstice building in Lincoln Park sells for 7 Million to an investment group in China. The Solstice was built by Glen Pennington P.E. in 2008.

1. FOR IMMEDIATERELEASE
Contact: John M. Przybyla
First Vice President/Regional Manager/Managing Broker, Chicago Downtown
(312) 327-5400
MARCUS & MILLICHAP ARRANGES THE SALE OF
A 17-UNIT APARTMENT BUILDING
CHICAGO, IL, May 29, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real
estate investment services firm with offices throughout the United States and Canada, announced
the sale of Solstice Luxury Apartments, a 17-unit apartment property located in Chicago, IL,
according to John M. Przybyla, regional manager of the firm’s Chicago Downtown office.
Solstice Luxury Apartments is located at 2666-2668 North Halsted Street in Chicago, IL. The
property was completed in 2009 by Glen Pennington, Principal of Solstice Development Group,
LLC, Lake Forest, Illinois. Mr. Pennington is a Civil Engineer and graduated from Marquette
University in 1991.
This sophisticated building is five stories, built of structural steel and concrete with green
technology. There are 16 two-bedroom/two-bathroom apartment units with high end finishes.
The 17th unit is at street level and leased to a popular restaurant and bar. The property includes
12 indoor parking spaces and additional four spaces in the rear.

2. Kyle Stengle and James Walsh of Marcus & Millichap’s downtown Chicago office teamed on
the assignment on behalf of the seller, a repeat client. The property was purchased by a foreign
investor who paid cash. The closing price was $7,000,000, over $411,000 per unit.
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About Marcus & Millichap (NYSE: MMI)
With over 1,500 investment professionals located throughout the United States and Canada,
Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing,
research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in
2014 with a value of approximately $33.1 billion. The company has perfected a powerful system
for marketing properties that combines investment specialization, local market expertise, the
industry’s most comprehensive research, state-of-the-art technology, and relationships with the
largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
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