Marcus & Millichap, has announced the sale of North Edge, a 7-unit apartment property located in Oak Park, IL, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $3,316,500.
Eric P. Bell, senior managing director and investment specialist 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 private investor, was secured and represented by Bell.
North Edge is located at 6605 West North Ave in Oak Park, Illinois in a live/work zoning district and in the Horace Mann school district. The property is a fully-leased, new construction apartment building with a strong unit mix, attached garage parking and broker-arranged 10-year financing.