DePasquale and Bill Montana, with the Chicago office ofHendricks & Partners, represented the seller in the salestransaction. The property has eight three-story apartment buildingsthat were constructed in 1972, in addition to a leasing office withlaundry facilities that was constructed in 1997, DePasquale says.The complex has 48 one-bedroom and 48 three-bedroom units. Theone-bedroom units have an average size of 640 sf and thethree-bedroom units have an average size of 1,088 sf, according tomarketing materials for the property.
The property had been 97% occupied in 2000, according toproperty marketing materials. Market rental rates are $670 for theone-bedroom units and $1,025 for the three-bedroom units.
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