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”

Fully Occupied Multifamily Properties Open Showing - Wednesday Sept 13th 12-2PM

Marcus & Millichap ARRANGES SALE OF a 24-UNIT APARTMENT property in Aurora, IL

 

AURORA, IL Apr. 24, 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 24-unit apartment property located in Aurora, Ill., according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $1,650,000.

Randolph Taylor, an Associate, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the local seller and also represented the 1031 exchange buyer.

Located at 1601-1603 Reckinger Road, the property consists of two adjacent 12-unit buildings. The unit mix is comprised of eight two-bedroom/one-bathroom units, 12 two-bedroom/one-bathroom with dining room units, and four one-bedroom/one-bathroom units. The property features tenant paid heat, central air conditioning, and electric hot water along with select units featuring in-unit laundry.

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About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.