Multifamily units sold in Central Illinois

Marcus & Millichap brokered the sale of the 159-unit Park Willow Apartments in Clarendon Hills, Ill.

The value of the transaction was $14.4 million.

Park Willow Apartments is a 149,370-square foot, well-maintained property constructed in the late 1960s on more than 11 acres. The property's unit mix is comprised of 86 one-bedroom and 73 two-bedroom units, ranging in size from 620 to 1,200 square feet.

A Chicago-based private investor sold the property to an investment partnership based in Addison, Ill.

At the time of sale, occupancy was approximately 89 percent.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

***

What's your opinion? Send your Letter to the Editor to opinion@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.