Multifamily N Illinois

Marcus & Millichap arranges more than $6M in suburban Chicago apartment property sales

South Suburban apartment property sells for $3.2 million,ph1
12551 S. Alpine Drive, Alsip, Illinois.

Marcus & Millichap announced the sale of apartment communities in the southwest and far northern parts of the Chicago MSA. The separate transactions, totaling over $6 million, occurred in Alsip, Illinois and Harvard, Illinois.

Andrean Angelov, first vice president investments, and Ryan D. Engle, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing on behalf of the seller for Alpine Apartments, a three-building, 48-unit apartment property located in Alsip. The pair also represented the buyer as the asset sold for $3,200,000.

Alpine Apartments consists of two 12-unit buildings located at 12543 S. Alpine Drive and 12535 S. Central Avenue, as well as one 24-unit building located at 12551 S. Alpine Drive. The unit mix is comprised of 19 one-bedroom/one-bathroom units and 29 two-bedroom/one-bathroom units. The property features ample off-street parking and on-site laundry facilities.

David B. Tarnoff, first vice president investments in Marcus & Millichap’s Chicago Downtown office, exclusively marketed Harvard Park Apartments on behalf of the seller and also represented the buyer. The 40-unit apartment property sold for $2,865,000.

Harvard Park Apartments is located at 108-24 W. Brink Street in Harvard, 80 miles northwest of Chicago. The five-building property is comprised of 40 two-bedroom/two-bathroom units each featuring central air-conditioning and a private patio or balcony. The property features two laundry facilities and ample parking for both residents and guests.