Multifamily N Illinois

Northwest suburban Chicago apartment complex sells for $2.3M

Northwest suburban Chicago apartment complex sells for $2.3M,ph1

Marcus & Millichap announced the sale of a 32-unit apartment property in Schiller Park, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $2,250,000.

Andrean Angelov, Ryan D. Engle and Samuel M. Antreasian, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had exclusively marketed the property on behalf of the seller, a private investor. The buyer, also a private investor, was represented by Engle and Angelov.

Located at 3871-3873 Ruby Street, adjacent to the Schiller Park Plaza retail center, the property consists of two adjacent 16-unit buildings. Together, they include 16 studios, eight one-bedroom/one-bathroom units and eight two-bedroom/one-bathroom units measuring approximately 300, 500 and 750 square feet, respectively. The property features ample off-street parking and an on-site laundry facility.