Multifamily units sold in Central Illinois

Property comprises 11-plus acres

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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....