Marcus & Millichap Arranges $12M Sale of Wisconsin Townhomes

Marcus & Millichap Arranges $12M Sale of Wisconsin Townhomes
News| April 1, 2026| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Marcus & Millichap brokered the sale of Evergreen Townhomes, a 76-unit multifamily property in Manitowoc, Wisconsin. The property sold for $12.3 million, or $161,842 per unit.

“While this transaction was driven by a local investor seeking to expand their presence in the Manitowoc market, Evergreen Townhomes stands out as a high-quality asset with strong appeal to family-oriented renters,” said Dan Bowar, director investments. “With consistently low vacancy, strong renter demand, and ongoing growth in the manufacturing and food processing sectors, we expect sustained interest in both existing multifamily assets and new development across the market.”

Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, marketed the property on behalf of the seller, a Florida-based investor, and procured the buyer, a Wisconsin-based investor.
Evergreen Townhomes is situated on two acres at 4910 Benley Ct. Built in 1999, the property features 76 units across 91,200 rentable square feet.

Join us on Tuesday afternoon, June 2, 2026, at the Connect Midwest Multifamily Trends Conference as JDL Founder, Jim Leitchinger, is honored with the Changing Skyline Award, followed by an exclusive Keynote Interview. This is a rare opportunity to hear firsthand insights from one of the region’s most influential visionaries in multifamily development.

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