Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 2453 North 1st Avenue, a 28-unit apartment property located in River Grove, IL, according to Steven D. Weinstock, Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $2,025,000.
Andrean Angelov and Ryan D. Engle, 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 and represented by Ryan D. Engle and Andrean Angelov.
2453 North 1st Avenue sold in 34 days at 90 percent of its original list price. The subject property is five blocks south of the River Grove Metra station, three miles from Interstate 294 and less than five miles from O’Hare International Airport; offering tenants easy access to multiple modes of transportation. The property consists of 16 one-bedroom / one-bathroom units and 12 two-bedroom / one-bathroom units and features an on-site income-producing laundry facility and ample parking.
