Marcus & Millichap Real Estate Investment Services has completed the sale of Riverside Apartments, a 21-unit apartment property located in Riverside. The asset sold for $1.2 million.
Jim Walsh, James Clough and Joseph Smazal, investment specialists in Marcus & Millichap’s Chicago downtown office, had the exclusive listing to market the property on behalf of the seller, a long term property owner trust. The buyer, a local investor, was secured and represented by Andrean Angelov and Ryan Engle, investment specialists in Marcus & Millichap’s Chicago Oak Brook office.
Riverside Apartments is located at 3408-3412 S. Harlem Ave. in Riverside, in a highly visible location within walking distance to the commuter train platform. The brick and stone building was built in 1927. The property consists of 21 units compromised of nine one-bedroom apartments, nine two-bedroom apartments and three commercial spaces. The property also included nine garages and 18 parking spaces.