Marcus & Millichap Arranges Sale of Wisconsin Mixed-Use Property for $7.25 Million

Strategic Insights -

Marcus & Millichap, a leading commercial real estate brokerage firm, has announced the sale of Dunlap Square, a 97-unit multifamily and office property in Marinette, Wisconsin, for $7.25 million. The property, located at 1655 Ludington St., is a 1.86-acre mixed-use property built in 1920, featuring 97 apartment units with a mix of one-, two- and three-bedroom floor plans, along with 21 office suites. The sale reflects a growing trend of larger mixed-use properties gaining momentum in tertiary downtown markets, driven by low vacancy levels and renter demand outpacing supply.

Key Takeaways:

  • Dunlap Square, a 97-unit multifamily and office property in Marinette, Wisconsin, was sold for $7.25 million.
  • The property features 120,404 square feet of space, with 97 apartment units and 21 office suites.
  • The sale reflects a growing trend of larger mixed-use properties in tertiary downtown markets, driven by low vacancy levels and renter demand.
  • Renter demand in Marinette is outpacing supply, fueled by shipbuilders securing long-term government contracts.
  • The planned renovation of the unoccupied street-level retail space will enhance the property's value and appeal in the market.
  • Dalton Ruesch, CEO of Ruesch Management Inc., acquiring company, expressed excitement about the potential of Dunlap Square and commitment to investing in vibrant communities.
  • The acquisition reflects Marcus & Millichap's commitment to delivering quality housing solutions in vibrant communities.
  • Dunlap Square is a 1.86-acre mixed-use property built in 1920, with a mix of one-, two- and three-bedroom floor plans.
  • The property has 97 apartment units with a total square footage of 120,404.

Statistics:

  • The sale of Dunlap Square had a price of $7.25 million.
  • The property features 120,404 square feet of space.
  • The property has 97 apartment units and 21 office suites.
  • The company has 1,712 investment sales and financing professionals.
  • Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion.
  • The company offers market research, consulting and advisory services to clients.

Sources:

  • Marcus & Millichap, Inc.
  • "Marcus & Millichap Arranges Sale of Wisconsin Mixed-Use Property for $7.25 Million"
  • August 5, 2025, www.marcusmillichap.com/news-events/press/2025/08/08-04-dunlapsquare