Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 12-unit apartment property located in Burbank, Illinois.
Senior Managing Director Investments Ryan D. Engle, Senior Vice President Investments Andrean Angelov, and Associate Zack Mahoney, all investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Engle and Angelov.
According to the team, the property sold for over the list price. The team conducted over 16 tours of the property and received multiple offers from qualified investors from which the owner selected a buyer, and the property went under contract.
This 12-unit multifamily building is located at 7819 Rutherford Avenue in Burbank, Illinois. The property has convenient access to Interstate 294, Route 43, and Route 12 and is within walking distance of a PACE bus stop. The area is surrounded by numerous local and national retail and dining outlets. Originally built in 1970, the building features a desirable unit mix of one-bedroom and two-bedroom units. The building also offers off-street parking, an on-site laundry facility, designated tenant storage, and private balconies and patios.
