Marcus & Millichap brokered the sale of Kingsley Commons and The Franklins, a 56-unit apartment property located in Normal, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The assets sold for $2,575,000.
Eric P. Bell, senior managing director, and Mitchell Kiven, senior associate, and investment specialists in Marcus & Millichap’s Chicago Oak Brook and Chicago Downtown offices, respectively, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Bell and Kiven.
Located at 907 Market Street and 809 – 911 Franklin Avenue in Normal, the buildings are Illinois State University student housing within walking distance to class. The buildings are well-maintained with recent capital improvements and on-site laundry facilities.