Marcus & Millichap Closes Suburban Chicago Multifamily Property Sale
Marcus & Millichap completed the sale of a 220-unit multifamily asset in St. Charles, Illinois.
“Located in a high-demand submarket, Fox Run Apartments is a fully renovated asset well-positioned for long-term growth,” said Ryan D. Engle, senior managing director of investments in Marcus & Millichap’s Chicago Oak Brook office. Engle and Andrean Angelov of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, also a private investor.
The property is accessible from Illinois Route 38 and Route 64, a short drive from the Geneva Metra commuter rail station, and within walking distance of public transportation. The downtown Chicago Loop and O’Hare International Airport are 45 and 30 miles away, respectively. Built in 1973 on 7.5 acres at 115 Walnut Drive, Fox Run Apartments has loft-style apartments with updated kitchens and stainless-steel appliances.
If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout