TrueRate, a full-service commercial real estate advisory firm, today announced that its investment sales team has successfully closed the $2.4 million sale of 362-412 Amphitheater Drive in Rockford, Illinois, to Isa Becovic of Becovic Holdings, a private investment firm located in Chicago, Illinois. The 28,320-square-foot property contains 24 units, marking a price record of $100,000 price per unit (PPU) and $85 price per square foot (PPSF).
The TrueRate investment sales team exclusively represented the seller in the transaction.
TrueRate contacted the sellers to notify them that their property had increased in value substantially from the $1,480,500 they originally purchased it for in March of 2020, to $2,400,000 in March 2023. The sellers hired TrueRate exclusively to market the property for this number. TrueRate then produced multiple offers in writing, which yielded a contract that contained a day one hard money deposit at the exact asking price of $2,400,000.
The team uses a unique three-pronged marketing approach beginning with the utilization of live data APIs and dynamic models to pinpoint baseline values of each property, ensuring the most accurate valuation and optimal outcome for their clients. Based upon those predictive model findings, the team then identifies the most active buyers at both the local and national levels with the highest propensity to transact. TrueRate then exposes the properties to the widest variety of buyers through tiered marketing campaigns.
