Marcus & Millichap facilitated the sale of a 24-unit apartment property located in Algonquin, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $2,000,000.
Andrean Angelov, Ryan D. Engle and Timothy B. Stephenson Jr., 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, also a private investor, was secured and represented by Angelov, Engle and Stephenson.
The property is located at 201-205 Sandbloom Road in Algonquin. The unit mix comprises eight one-bedroom/one-bathroom units and 16 two-bedroom/one-bathroom units measuring approximately 750 and 850 square feet, respectively. The property features on-site laundry facility and ample off-street parking. The property is conveniently located near numerous retail and dining options; Algonquin Town Center is located less than one mile east.