Marcus & Millichap announced the sale of an 18-unit apartment property located at 2628-2640 Desplaines Avenue in North Riverside, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $2,070,000.
Andrean Angelov, Ryan D. Engle and Samuel M. Antreasian, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller, a private investor. The private buyer was also secured and represented by Antreasian, Engle and Angelov.
The property consists of two five-unit buildings and one eight-unit building, with a unit mix that includes three one-bedroom/one-bathroom units and 15 two-bedroom/one-bathroom plans. Recent capital improvements added condo-quality finishes to residences as well as updated windows, doors, roofing, hot water heaters, boilers and air conditioners. Located a half mile from Cermak Road, this property offers convenient access to numerous retail and dining options, including Cermak Plaza Shopping Center and North Riverside Park Mall.