Marcus & Millichap announced the sale of a 12-unit apartment property located in Tinley Park, Illinois, according to Steven D. Weinstock, First Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $845,000.
Jordan Gilbert, Andrean Angelov and Ryan D. Engle, 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 limited liability company, was also secured by Ryan D. Engle, Andrean Angelov and Jordan Gilbert.
The subject property is located at 7351 Sandalwood Drive, and sold in 7 days at 97 percent of original list price. The property is comprised of four one-bedroom / one-bathroom units, measuring approximately 600 square feet each and eight two-bedroom / one-bathroom units, measuring approximately 875 square feet each.
The building features many capital improvements, including newer floors, new unit doors, newer appliances, a five-year-old roof, several newer furnaces, and a well-maintained parking lot. All units have storage, dishwashers, access to on-site laundry and a balcony or patio.
