Despite the quick sale, the Glendale Heights property sold at an 8.88% overall capitalization rate, while the Beverly portfolio traded at a 9.85% cap rate.
The common denominator in both deals was Inland Real Estate Sales, Inc., as the deals were brokered by members of the firm's Chicago and Oak Brook offices.
Sales associates Kevin List and Joe Esselman represented CNK Property Management in its sale of 10607-13, 10619-21, 10623-25 and 10627-33 S. Hale Ave. to Tocal Property Management, which was represented by Marvin Robinson of Integrity Realty, Inc.
Meanwhile, it took 26 days for assistant vice president Robert Edmiston to sell 192 Gladstone Ave. in the Stratford Trails development. The property was sold by an investor from nearby Roselle to one in Glendale Heights.
"This property sold very quickly because the buyer was already familiar with the area and with the complex," Edmiston says in a statement. "He made one wise investment in this community and it was easy for him to invest a second time."
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