Lombard multifamily property sells for $2.15 million

Inland Real Estate Commercial Brokerage, Inc. announced the sale and closing of a 28-unit apartment complex located in Lombard, Illinois, a western suburb of Chicago, for $2.15 million. Senior vice presidents of Inland Commercial Brokerage Paul Montes and Eric Spiess facilitated the transaction on behalf of the seller.

Located at 1024 E. Division Street in Lombard, the residential property consists of seven buildings with seven one-bedroom units and 21 two-bedroom units, all with one bathroom. The property is located in close proximity to a variety of schools, shopping, restaurants, transportation, Westmore Woods Forest Preserve and is in a single-family neighborhood.

“We were pleased to successfully facilitate this transaction of a well-located, central DuPage County multifamily property located near desirable schools, outdoor recreation and entertainment options,” said Spiess. “Due to its location in a strong rental market and its tenant-paid, separately metered electric, the property has significant upside potential and attracted the attention of many investors.”

Inland Commercial Brokerage is a boutique brokerage firm providing sales, acquisition and exchange services to private, public and institutional owners and managers of commercial investment real estate.