August 5, 2020
Inland Real Estate Commercial Brokerage closed the sale of a six-unit residential property in Palatine, IL. SVPs Paul Montes and Eric Spiess facilitated the transaction on the seller’s behalf.
The multifamily property, located at 1551 N. Winslowe Dr. in the Palatine Square Apartment Complex, sold for $590,000. A private investor purchased the property as a value-add opportunity.
“The property’s owner was looking to retire, offering the buyer an opportunity to secure their first multifamily investment,” said Spiess. “Palatine Square’s strategic location, with an abundance of nearby shopping and dining, drives demand and ensures minimal turnover and vacancy.”
The property is comprised of five two-bedroom, one-bathroom units and a single one-bedroom, one-bath unit, each with a private balcony or patio and an on-site laundry facility. The Palatine Square complex is minutes from a commercial thoroughfare, with restaurants and national retailers including Walmart, Home Depot, TJ Maxx and Home Goods.
For comments, questions or concerns, please contact Paul Bubny