WEDNESDAY, JUNE 10, 2009

Marcus & Millichap announce 180-unit apartment community sale

by Illinois Real Estate Journal Reports
Chicago-> South Cook

Marcus & Millichap Real Estate Investment Services has announced the sale of Crossroads Apartments, a high-quality, 180-unit apartment community located in Sauk Village, according to John Przybyla, vice president/regional manager of the firm's Chicago Downtown office. The list price was $8,950,000. The final sales price was not disclosed.

James Walsh and Michael Wernke, investment specialists in Marcus & Millichap's Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller. The buyer, a limited liability company, was also secured by James Walsh and Michael Wernke.

The property is comprised of ten, 18-unit apartment buildings, offering a total of 180 rental units. The buildings are in a circular layout that surrounds the community's outdoor swimming pool, tennis court, and picnic area. Sauk Village is a suburb of Chicago, located approximately 30 miles south of downtown Chicago.

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