Marcus & Millichap sold an 18-unit apartment property, located in Addison, Illinois, said Steven Weinstock, the company’s first vice president/regional manager/managing broker of the firm’s Oak Brook, Illinois, office.
The building, located at 345 West Park Avenue, sold for an approximate $1.45 million.
Ryan D. Engle and Andrean Angelov, investment specialists for Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Engle and Angelov.
The property consists of nine one-bedroom/one-bathroom units and nine two-bedroom/one-bathroom units measuring approximately 750 and 850 square feet respectively. The property features a newer hot water heater, newer roof, ample off-street parking and on-site laundry. The property is approximately 22 miles west of the downtown Chicago Loop, and approximately 10 miles west of O’Hare International Airport.