Multifamily N Illinois

88-unit multifamily property in Rockford trades for $1.75 million

88-unit multifamily property in Rockford trades for 1.75 million,ph1

Marcus & Millichap closed the sale of Creekview Apartments, an 88-unit multifamily property located in Rockford, Illinois. James Ziegler, a first vice investments in the firm’s Downtown Chicago office, and Eric Wagner, an associate in Marcus & Millichap’s Milwaukee office, represented the seller in the $1,750,000 transaction.

Creekview Apartments is located at 4815-60 Creekview Road in Rockford and consists of 88 two-bedroom/one-bathroom units. The property was 50 percent vacant at the time of sale, and the buyer plans to fully renovate the buildings. Residents of the property are steps from the major retail corridor of East State Street, and Rockford’s connection to surrounding metropolitan areas via various interstates and highways make travel outside the city easy.