Multifamily N Illinois

Elgin apartment building sells for $2.35 million

Elgin apartment building sells for $2.35 million,ph01

Marcus & Millichap announced the sale of Regency Apartments, a 32-unit apartment property located in Elgin, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $2,350,000.

Andrean Angelov, first vice president investments, and Ryan D. Engle, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and also represented the buyer.

Regency Apartments is located at 230 S. State Street, walking distance from downtown Elgin and numerous retail and dining options. The property is comprised of four studios, 12 one-bedroom/one-bathroom units, 12 two-bedroom/one-bathroom units and four three-bedroom/one and one-half-bathroom units. The property features an elevator, ample off-street parking, storage lockers, and an on-site laundry facility.