Marcus & Millichap brokered two separate sales of apartment properties in Springfield, Illinois. In the first transaction, the 106-unit Victoria Village Apartments sold for $1,850,000. Additionally, the 156-unit Lake Victoria Apartments sold for $4,120,000.
Bryan W. Kunze, associate, and Scott D. Harris, senior managing director and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market both properties, each on behalf of private investor sellers. The buyers in each transaction, both limited liability companies, were secured and represented by Kunze and Harris.
Victoria Village Apartments is located at 2473 Ladley Court in Springfield. The property is situated on 6.4 acres and consists of 24 buildings. In addition, there is an on-site leasing and maintenance office of approximately 1,200 square feet.
Lake Victoria Apartments is located at 2925 Taylor Street in Springfield. The property consists of 19 two-story buildings, built in 1982. Each building is comprised of eight apartment units and ample parking. All buildings underwent extensive renovation beginning in 2013 with new carpet, cabinetry, water heaters, countertops and bathroom vanities.
