December 19, 2018
Marcus & Millichap has brokered the sale of an eight-unit apartment property in Joliet, IL. The asset sold for $475,000, and was the second recent apartment deal the firm has arranged in this southwest suburb.
Adam Fortino, a senior associate in Marcus & Millichap’s Chicago Oak Brook office, represented both the seller and buyer.
The property (pictured) is located at 418-420 Nicholson St., adjacent to St. Francis University in Joliet. The unit mix is comprised of two one-bedroom/one-bathroom units and six two-bedroom/one-bathroom units.
Fortino finalized another multifamily sale in Joliet a few weeks ago, again representing both buyer and seller, with the 12-unit 516 Bellarmine Dr. East trading for $840,000. The tenant-heated building features 10 income producing garages, on-site laundry facilities and off-street parking.
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