Marcus & Millichap announced the sale of Lincolnshire Court Apartments, a 56-unit apartment property located in Plainfield, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $7,500,000 representing $134,000 per unit.
Andrean Angelov and Ryan D. Engle, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller, a private investor. The buyer, a private investor from California, was also secured and represented by Angelov and Engle.
The property, which consists of four 14-unit apartment buildings, is in the heart of Plainfield at 15002-15100 S. Wood Farm Road. In total it has 24 one-bedroom/one-bathroom and 32 two-bedroom/two-bathroom units. Built in 2002, the property features balconies or patios for each unit, in-unit washers and dryers, garage parking and ample off-street parking.