Business

Lombard apartment complex sells for $2.15 million

Posted January 29, 2019 12:00 am

LOMBARD - Inland Real Estate Commercial Brokerage recently closed the sale of a 28-unit apartment complex in Lombard for $2.15 million.

Located at 1024 E. Division St., the residential property consists of seven buildings with seven one-bedroom units and 21 two-bedroom units, all with one bathroom. The property is located in proximity to a variety of schools, shopping, restaurants, transportation, Westmore Woods Forest Preserve and is in a single-family neighborhood.

Paul Montes and Eric Spiess, senior vice presidents of Oak Brook-based Inland Commercial Brokerage, facilitated the transaction on behalf of the seller.

"Due to its location in a strong rental market and its tenant-paid, separately metered electric, the property has significant upside potential and attracted the attention of many investors." said Spiess.

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