Multifamily N Illinois

Marcus & Millichap arranges sale of 12-unit Aurora apartment building

Marcus & Millichap arranges sale of 12-unit Aurora apartment building,ph1

Marcus & Millichap closed the sale of a 12-unit apartment property located in Aurora, Illinois. Randolph Taylor, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust and also represented the buyer, an individual/personal trust. The asset sold for $785,000.

The property is located at 557-559 Ashland Avenue in Aurora and consists of all two-bedroom two-bath units on the south side of Aurora bordering Montgomery, Illinois. The property was fully occupied at the time of the sale. This is an example of the effectiveness of the Marcus & Millichap platform moving capital across the country, as an outstate Seattle buyer was able to realize greater returns in the Midwest, specifically in the suburban Chicago market, versus their local market.