January 18, 2019
Marcus & Millichap has brokered the sale of Regency Apartments (pictured), a 32-unit apartment property in Elgin, IL. The asset sold for $2,350,000.
Andrean Angelov, first VP investments, and Ryan D. Engle, SVP investments, exclusively marketed the property on behalf of the seller. Angelov and Engle, both based in Marcus & Millichap’s Chicago Oak Brook office, also represented the buyer.
Regency Apartments is located at 230 S. State St., within walking distance from downtown Elgin and numerous retail and dining options.
The Regency Apartments sale represented the Chicago Oak Brook office’s second transaction in Elgin this week. Previously, associate Tami Andrew and first VP Tammy A. Saia arranged the $1-million sale of a 9,562-square-foot office building at 452 N. McLean Blvd. The 100% leased property sold to an out-of-state buyer in a 1031 exchange.
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