Marcus & Millichap brokered the sale of 495-525 Madison Avenue, a 60-unit apartment property located in Calumet City, 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, and Ryan D. Engle, senior managing director, in Marcus & Millichap’s Chicago Oak Brook office and Anthony Hardy, senior associate, in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Angelov and Engle.
The property is located approximately 20 miles southeast of the downtown Chicago Loop, with immediate access to Route 83 and Interstate 94. There are five 12-unit buildings positioned parcel-to-parcel to each other on a 1.3-acre lot. The property features ample off-street parking and an on-site laundry facility for each building.