Business

Algonquin apartment complex sold for $2 million

Posted August 08, 2018 1:00 am

Daily Herald Report

Marcus & Millichap commercial real estate investment services firm said Wednesday that a 24-unit apartment complex in Algonquin sold for $2 million.

The property is at 201-205 Sandbloom Road in Algonquin. The unit mix comprises eight one-bedroom, one-bathroom units and 16 two-bedroom, one-bathroom units measuring approximately 750 and 850 square feet, respectively.

The property features on-site laundry facility and ample off-street parking. The property is located near numerous retail and dining options, including Algonquin Town Center which is less than a mile away.

Andrean Angelov, Ryan D. Engle and Timothy B. Stephenson Jr., investment specialists in Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, also a private investor, was secured and represented by Angelov, Engle and Stephenson.

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