12-Unit Apartment Building For Sale 10% Cap Rate 557-559 Ashland Ave Aurora IL 60505

 

AURORA, IL, October 10, 2019 –  Marcus & Millichap (NYSE: MMI) , a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of  a 12-unit apartment property located in Aurora, Ill, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $785,000.

Randolph Taylor, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.  The buyer, an individual/personal trust, was also secured and represented by Randolph Taylor.

The property is located at 557-559 Ashland Ave in Aurora, Ill and is a twelve-unit multifamily property consisting of all two-bedroom two-bath units on the Southside of Aurora bordering Montgomery, Ill. The property was fully occupied at the time of the sale. This is an example of the effectiveness of the Marcus & Millichap platform moving capital across the country, as an outstate Seattle, WA buyer was able to realize greater returns in the Midwest, specifically in the suburban Chicago market, versus their local market. Continue reading “MARCUS & MILLICHAP ARRANGES THE SALE OF AN AURORA, ILL APARTMENT BUILDING”

Shifting Strategies: Multifamily Investors Adjust To Sector Slowdown, Mature Cycle

Shifting Strategies: Multifamily Investors Adjust To Sector Slowdown, Mature Cycle

 Investor confidence in the stability of the multifamily sector this year remains strong, despite robust new supply levels and concerns regarding rising inflation and aggressive interest rate hikes. 

 As the cycle continues to mature, investors are shifting their investment strategies to focus less on appreciation to generate crazy returns, and more on stability and betting on assets that will generate steady cash flow. 

Continue reading “Shifting Strategies: Multifamily Investors Adjust To Sector Slowdown, Mature Cycle”