Kiser Group has arranged the sale of Marlene Court Apartments, a 39-unit property at 350 S. Main St. in Wauconda. The property traded for $1.7 million to a private 1031 exchange buyer.
Marlene Court Apartments was on the market seven days and received multiple offers.
Bill Baumann and John Meyer had the exclusive listing to market the property on behalf of the seller. The buyer, a private investor, was represented by Brian Semel, also of Kiser Group.
Marlene Court Apartments is four building, 39-unit apartment property on Main Street just south of Route 176 in downtown Wauconda. The property had undergone several capital improvements in recent years including all new roofs on all four buildings.