Marcus & Millichap brokered the sale of The Stilts, a 16-unit apartment property located in Normal, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,400,000.
Eric P. Bell, senior managing director, and Mitchell Kiven, senior associate and investment specialists in Marcus & Millichap’s Chicago Oak Brook and Downtown offices, 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 Bell and Kiven,
The Stilts is located at 401 E. College Avenue in close proximity to Normal’s Uptown neighborhood, home to numerous popular restaurants and bars. The asset features a mix of three- and four-bedroom units with covered garage parking and in-unit laundry. The property is well maintained and benefits from a number of recent capital improvements.
