Marcus & Millichap announced the sale of McKinley Gardens, a 26-unit apartment property located in Mundelein, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $1,980,000.
First vice president investments Andrean Angelov, senior vice president investments Ryan D. Engle and associate Timothy B. Stephenson Jr., in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller, a private investor, as well as represented the buyer, a limited liability company.
McKinley Gardens is located at 520 McKinley Avenue in Mundelein. The unit mix is comprised of 11 one-bedroom/one-bathroom units and 15 two-bedroom/one-bathroom units. The property features ample off-street parking and an on-site laundry facility. The location provides convenient access to Route 176 and Interstate 94. The property is surrounded by a strong concentration of local retail stores and restaurants.