Montgomery, IL, December 15th, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Victorian Apartments, a 152-unit multifamily property located in Montgomery, IL, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $13,500,000.
The offering was an exclusive listing of Marcus & Millichap and both Buyer and Seller were represented by Randolph Taylor, Senior Associate, and an investment specialist in the National Multi Housing Division in Marcus & Millichap’s Chicago Oak Brook office.
The property is located at 834 Victoria Drive in Montgomery, Illinois approximately 40 miles southwest of downtown Chicago. Victorian Apartments consists of 32 large studios, 72 one-bedrooms, and 48 two-bedroom apartment homes.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8.954 transactions in 2021 with a value of approximately $43.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.