Firm brokers brokers two suburban apartment sales

Two suburban apartment building sales were recently brokered by Marcus & Millichap, the Oak Brook-based commercial real estate company announced Thursday.

Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office, said the agency sold a 24-unit apartment compelex at 1601-1603 Reckinger Road in Aurora for $1.65 million.

The property consists of two adjacent 12-unit buildings, each comprised of eight two-bedroom/one-bathroom units, 12 two-bedroom/one-bathroom with dining room units, and four one-bedroom/one-bathroom units. The property features tenant paid heat, central air conditioning, and electric hot water along with select units featuring in-unit laundry.

Marcus & Millichap Associate Randolph Taylor marketed the property on behalf of the local seller, and also represented the buyer, both of which were unnamed.

The firm also sold a 23-unit apartment property at 450 S. Belmont Ave. in Elgin. Terms of the sale were not announced.

The property is comprised of 23 studio units, is tenant heated and features ample off-street parking and an on-site laundry facility. The Elgin Metra station is located four miles northeast of the property and Pace Bus stops are located just one block east of the property. Elgin Community College is located within walking distance

Andrean Angelov, first vice president investments, and Ryan D. Engle, senior vice president investments, of the Chicago Oak Brook office marketed the property on behalf of the seller. Angelov and Engle, along with Timothy B. Stephenson Jr, an associate, in Marcus & Millichap's Chicago Oak Brook office, represented the buyer. Both parties were unnamed.