Multifamily N Illinois

NIU-adjacent apartment portfolio sells for $3.2 million

NIU-adjacent apartment portfolio sells for 3.2 million,ph1
1055-1091 Spiros Court, Dekalb, Illinois.

Marcus & Millichap announced the sale of a 43-unit apartment portfolio located in Dekalb, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $3,235,000.

Andrean Angelov, first vice president investments, Adam Fortino, a senior associate, 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.

The properties are located at 1075-1076 Ridge Drive and 1055-1091 Spiros Court in Dekalb. The portfolio consists of three apartment buildings on Spiros Court comprising one seven-unit building and two ten-unit buildings, as well as two eight-unit buildings located on Ridge Drive less than one mile north of Northern Illinois University. The unit mix is comprised of 37 three-bedroom/three-bathroom units and six four-bedroom/three-bathroom units. The property was built in 2000 and features in-unit laundry and garage parking.