Marcus & Millichap brokered the sale of Briar Gardens Apartments, a 24-unit multifamily property in Cherry Valley, Illinois.
The property sold for $2,675,000, or $111,458 per unit.
Patrick Suffield, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the local seller, and procured the regional buyer.
Briar Gardens Apartments is situated on 1.5 acres at 7572 Cherryvale North Blvd. Built in 1975, the property includes a mix of one- and two-bedroom units across 8,800 rentable square feet. It is near Cherryvale Mall and several national retailers and restaurants, including Menards, Walgreens and Starbucks.
