Marcus & Millichap closed the sale of a 12-unit apartment property located in Joliet, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $910,000.
Adam Fortino, an investment specialist 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 was also a private investor.
This property is located at 508 Kungs Way in Joliet and consists of eight two-bedroom units, and four one-bedroom units. The property has many recent capital improvements including a new roof in 2012, new windows in 2002 and several recently renovated units. The property is 100 percent occupied.