Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 421 & 521 Kungs Way and 2414 Douglas, a 16-unit apartment property located in Joliet, IL, according to Steven D. Weinstock, Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $1,060,000.
Andrean Angelov, Ryan D. Engle and Adam Fortino, 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, a limited liability company, was also secured by Ryan D. Engle, Andrean Angelov and Adam Fortino.
The subject properties are located at 421 & 521 Kungs Way & 2414 Douglas in Joliet, IL and sold in 53 days at 94 percent of its original list price. The unit mix is comprised of three one-bedroom / one-bathroom units. Seven two-bedroom / one-bathroom units, and six three-bedroom / one and one-half bathroom units measuring approximately 800, 900-1,026 and 1,305 square feet respectively. Each property features ample off-street parking.
