Marcus & Millichap closed the sale of a 12-unit apartment property located in Oak Forest, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. Terms of the transaction were not disclosed.
Andrean Angelov, first vice president investments, Adam Fortino, senior associate, Chandler Brown, associate, and Ryan D. Engle, senior vice president investments 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 private investor, was secured and represented by Angelov and Engle.
The property is located at 16733-16735 Forest Ave in Oak Forest. The property consists of two six-unit buildings comprised of four one-bedroom/one-bathroom units and eight two-bedroom/one-bathroom units measuring approximately 650 and 800 square feet, respectively. The property also features laundry facilities in each building, newer water heaters, a two-car attached parking garage, a six-and-a-half car detached parking garage and ample off-street parking. The area provides convenient access to Route 6 and Interstate 57 and the property is positioned close to 159th Street, a major east-west thoroughfare.