CRE Midwest

Marcus & Millichap arrange sale of a 9-unit apartment building

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Marcus & Millichap has sold Sheridan Point Apartments, a 9-unit apartment property located in Highwood , IL,

Marcus & Millichap has sold Sheridan Point Apartments, a 9-unit apartment property located in Highwood , IL, according to Steven D. Weinstock, Vice President /Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $865,000.

Alan Katamanin, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Ryan D. Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office.

Sheridan Point Apartments located at 740 Sheridan Road sold in 55 days. This nine-unit building consists of eight two-bedroom / one-bathroom units and one one-bedroom / one-bathroom unit. The one-bedroom unit is approximately 650 square feet and the two-bedroom units are approximately 900 square feet. Highwood, IL is in the Moraine Township of Lake County, in what is considered the North Shore. Highwood is approximately 30 miles north of downtown Chicago.