The seller was represented by DePasquale and Bill Montana, alsowith the Chicago office of Hendricks & Partners. The propertyconsists of 10 two- and three-story buildings that were constructedin 1969 on an approximate 11.5-acre site. There is a mix of one-and two-bedroom units.
The units have been more than 90% occupied for the past threeyears, according to marketing materials for the property. Theaverage unit size is 803 sf and the average rent is $826, accordingto the materials. The buyer was attracted to the property becauseof the location at Route 59 and Roosevelt Road and "they felt theycould really take advantage with hands-on operations of theproperty," DePasquale says.
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