Suburban Multifamily Asset Sells at 6.5% Cap Rate

Marcus & Millichap Real Estate Investment Brokerage Co. vice president of investments Eric Bell represented both parties to the sale of the property, built about 40 years on 11 acres in this DuPage County suburbs. However, the complex has been well-maintained, according to Marcus & Millichap, with the previous ownership collecting $680 per month to $930 per month in rent on the one- and two-bedroom units. However, vacancy at the property was 11% in an otherwise strong suburban submarket.