Marcus & Millichap negotiated the sale of a 23-unit apartment property in Elgin, Illinois.
Ryan D. Engle, Senior Managing Director, and Andrean Angelov, Senior Vice President, 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 private investor, was secured and represented by Engle and Angelov.
The 23-unit multifamily property is located at 450 South Belmont Avenue in Elgin, Illinois. The property has convenient access to Route 20 and is four miles from the Elgin Metra station. The property is near Elgin Community College, the Highlands of Elgin Golf Club, and Marcus Elgin Cinema. The building is close to local retail and dining options. Originally built in 1976, the property is comprised of 23 studio units. The property has ample off-street parking and an on-site laundry facility.
