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August 25, 2025
MARINETTE – Marcus & Millichap recently announced the sale of Dunlap Square, a 97-unit multifamily and office property in Marinette, for $7.25 million.
Dunlap Square, located at 1655 Ludington St., is a 1.86-acre mixed-use property built in 1920.
The 120,404-square-foot building features 97 apartment units with a mix of one-, two- and three-bedroom floor plans, along with 21 office suites.
Dan Bowar, associate director of investments with Marcus & Millichap, said larger mixed-use properties, like Dunlap Square, are gaining momentum in tertiary downtown markets as investors seek higher in-place cap rates and benefit from low vacancy levels driven by migration out of larger metros.
“This property is well positioned for long-term success as renter demand in Marinette continues to outpace supply – fueled in part by shipbuilders securing long-term government contracts,” he said. “The planned renovation of the unoccupied street-level retail space will further enhance the property’s value and appeal in the market.”
Bowar said he marketed the property on behalf of the seller, Three Sixty Real Estate Solutions, and procured the buyer, Ruesch Management Inc.
Dalton Ruesch, CEO of Ruesch Management Inc., said the acquisition reflects the company’s commitment to investing in “vibrant communities and delivering quality housing solutions.”
“We’re excited about the potential of Dunlap Square and look forward to working closely with the community to provide an exceptional living experience for our residents,” he said.
