ELLSWORTH & BALDWIN, Wis., April 28,2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 49-unit multifamily portfolio in Ellsworth and Baldwin, Wisconsin. The properties sold for $5.8 million.
“Though located in rural areas, the two counties (St. Croix & Pierce) in which the subject properties are located are increasingly viewed as extensions of the Twin Cities metro, and this portfolio’s strong rent performance reflects that trend,” said Scott M. Anderson, senior associate. “With top rents in their respective submarkets, the buyer is well-positioned to maximize value on this long-term hold. There’s never been a better time for sellers to transact—and for buyers, this is a rare opportunity to get in submarkets like these and get ahead of what we believe is the region’s next ‘wave of growth.’”
Anderson, multifamily investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the portfolio on behalf of the seller and procured the buyer. Both parties involved in the transaction are Wisconsin-based investors. Todd Lindblom is the firm’s broker of record in Wisconsin.
The subject portfolio includes 25 units across five buildings in Ellsworth, with a mix of 16 two-bedroom, eight one-bedroom and one studio unit; as well as two buildings in Baldwin, comprised of 24 two-bedroom units. Both properties are within an hour of the Minneapolis–St. Paul metro area.
