Marcus & Millichap brokered the sale of Crescent Creek Apartments, a 96-unit multifamily property in Peoria, Illinois, for $5.53 million.
Yianni Mouflouzelis and Patrick Suffield, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the Washington-based seller, and procured the Chicago-based buyer.
Located at 2901–2979 W. Cannes Drive, Crescent Creek Apartments sits on 5.66 acres and includes 76,800 rentable square feet. Built in 1972, the unit mix consists of studio, one-bedroom and two-bedroom apartments. The buyer plans to execute a full renovation program to modernize the units and enhance the property’s long-term performance. The location offers proximity to shopping, dining, Bradley University and cultural attractions such as the Peoria Zoo and Riverfront Museum.
