Marcus & Millichap Real Estate Investment Services has completed the sale of Rockford Apartments, a 21-unit apartment property located in Forest Park. The asset sold for $1.7 million.
Eric Bell and Ryan Engle, 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, OakParkApartments.com, was also secured and represented by Engle and Bell.
The Rockford Apartments at 37 Rockford Ave. sold in 11 days at 100 percent of its original list price. The property consists of six studio/one-bathroom units and 15 one-bedroom/one-bathroom units measuring approximately 400 and 650 square feet, respectively. Each unit is heated by a hot water baseboard system and cooled with one sleeve air conditioner. The property features flexi-core construction.
