Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 113 Lincoln Avenue, a 26-unit apartment property located in Riverside, IL, according to Steven D. Weinstock, Vice President/ Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $1,725,000.
Ryan D. Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured by Eric P Bell, an investment specialist in Marcus & Millichap’s Chicago O’Hare office.
113 Lincoln Avenue sold at 95 percent of its original list price. The property consists of 15 one-bedroom / one-bathroom units, nine two-bedroom / one-bathroom units and two two-bedroom / one-bathroom garden units. The one-bedroom units measure approximately 700 square feet each and the two-bedroom units measure approximately 800 square feet each.
