Marcus & Millichap Real Estate Investment Services has completed the sale of 1405 North Ave., a 32-unit apartment property located in Waukegan. The asset sold for $1.6 million.
Alan Katamanin, an 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 also secured and represented by Katamanin.
The property sold in 88 days at 94 percent of its original list price. There are a total of 32 apartment units consisting of 12 one-bedroom/one-bathroom units and 20 deluxe two-bedroom units. Ten of these units have one and one-half- bathrooms and 14 have private balconies. The units range from 800 to 1,000 square feet respectively. The property has a meeting center in the basement, storage lockers, laundry facilities and 50 outdoor parking spaces.
