Marcus & Millichap announced the sale of 41 E. Blecke Ave., a 12-unit apartment property located in Addison, Illinois.
Christopher Malay, associate, and Eric P. Bell, executive managing director, both investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Ryan D. Engle and Andrean Angelov.
The subject property features two studio units and 10 one-bedroom/one-bathroom units. Malay and Bell secured 15 property tours and 10 offers. The asset sold for $1,135,000 or 98% of list price, to a local 1031 exchange buyer.
