Marcus & Millichap facilitated the sale of 1948 N. 19th Avenue, a six-unit apartment property located in Melrose Park, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $600,000.
Christopher Malay, associate, and Eric P. Bell, senior managing director investments, 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 subject property features condo-quality units and numerous capital improvements including tear-off roof, new windows throughout, water heaters, updated electric, copper plumbing and individual HVAC systems. Marcus & Millichap assembled 21 property tours and accumulated 11 offers, ultimately trading the property for one of the highest price-per-unit sales in Melrose Park.