Marcus & Millichap has closed the sale of Ridge Terrace Apartments, a 72-unit apartment property in Chicago Ridge, Illlinois.
The building sold for $4.53 million.
Andrean Angelov and Ryan Engle, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured by Engle and Angelov.
Ridge Terrace Apartments is located at 7030-40 West 100th & 9940 Nottingham in Chicago Ridge. It sold at 93 percent of original list price.
The three buildings consist of 36 one-bedroom/one-bathroom units and 36 two-bedroom/one-bathroom units measuring about 715 and 860 square feet, respectively. Each building features storage spaces, ample off-street parking and on-site laundry facilities.